Magnolia Oil & Gas Corp (NYSE:MGY) Receives $27.00 Consensus Target Price from Brokerages

Shares of Magnolia Oil & Gas Corp (NYSE:MGY - Get Free Report) have been assigned a consensus rating of "Hold" from the fourteen brokerages that are currently covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $27.00.

Several equities analysts have recently issued reports on MGY shares. Citigroup lowered their price target on Magnolia Oil & Gas from $22.00 to $19.00 and set a "sell" rating for the company in a research report on Tuesday, April 8th. JPMorgan Chase & Co. reduced their price objective on shares of Magnolia Oil & Gas from $28.00 to $24.00 and set a "neutral" rating for the company in a research note on Thursday, March 13th. UBS Group reiterated a "buy" rating and issued a $29.00 target price (up previously from $26.00) on shares of Magnolia Oil & Gas in a research note on Friday, June 13th. Susquehanna reduced their price target on shares of Magnolia Oil & Gas from $31.00 to $30.00 and set a "positive" rating for the company in a research report on Tuesday, April 22nd. Finally, Piper Sandler decreased their price objective on shares of Magnolia Oil & Gas from $25.00 to $24.00 and set a "neutral" rating for the company in a report on Tuesday, May 13th.

Magnolia Oil & Gas Stock Down 0.1%

Shares of NYSE MGY traded down $0.03 on Thursday, reaching $23.33. 837,262 shares of the company's stock traded hands, compared to its average volume of 2,354,126. The business's 50 day simple moving average is $22.53 and its two-hundred day simple moving average is $23.16. Magnolia Oil & Gas has a 12 month low of $19.09 and a 12 month high of $29.02. The company has a market cap of $4.49 billion, a price-to-earnings ratio of 11.61, a price-to-earnings-growth ratio of 3.11 and a beta of 1.28. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.20.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $0.55 earnings per share for the quarter, beating analysts' consensus estimates of $0.53 by $0.02. Magnolia Oil & Gas had a return on equity of 20.73% and a net margin of 28.50%. The company had revenue of $350.30 million during the quarter, compared to analyst estimates of $337.83 million. During the same quarter last year, the company earned $0.46 EPS. The firm's revenue for the quarter was up 9.7% on a year-over-year basis. As a group, equities research analysts forecast that Magnolia Oil & Gas will post 2.1 EPS for the current fiscal year.

Magnolia Oil & Gas Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 12th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 2.57%. The ex-dividend date was Monday, May 12th. Magnolia Oil & Gas's payout ratio is currently 29.85%.

Hedge Funds Weigh In On Magnolia Oil & Gas

A number of institutional investors and hedge funds have recently made changes to their positions in MGY. First Trust Advisors LP boosted its stake in shares of Magnolia Oil & Gas by 24.6% during the 4th quarter. First Trust Advisors LP now owns 15,410,496 shares of the company's stock worth $360,297,000 after acquiring an additional 3,038,709 shares during the last quarter. Encompass Capital Advisors LLC purchased a new position in Magnolia Oil & Gas during the first quarter valued at $53,819,000. Jane Street Group LLC grew its holdings in Magnolia Oil & Gas by 1,382.9% during the first quarter. Jane Street Group LLC now owns 1,059,335 shares of the company's stock valued at $26,759,000 after purchasing an additional 987,896 shares during the period. Millennium Management LLC raised its stake in shares of Magnolia Oil & Gas by 506.2% in the first quarter. Millennium Management LLC now owns 1,022,836 shares of the company's stock worth $25,837,000 after buying an additional 854,113 shares during the period. Finally, Nuveen LLC purchased a new position in shares of Magnolia Oil & Gas during the 1st quarter valued at about $21,066,000. Hedge funds and other institutional investors own 94.73% of the company's stock.

About Magnolia Oil & Gas

Magnolia Oil & Gas Corp. engages in the acquisition, development, exploration, and production of oil and natural gas properties. It operates assets located in the Eagle Ford Shale and Austin Chalk formations in South Texas. The company was founded on February 14, 2017 and is headquartered in Houston, TX.