Magnolia Oil & Gas (NYSE:MGY) Sets New 52-Week High at $26.15

Magnolia Oil & Gas Co. (NYSE:MGY - Get Free Report) shares reached a new 52-week high on Monday . The company traded as high as $26.15 and last traded at $26.15, with a volume of 692 shares traded. The stock had previously closed at $25.95.

Wall Street Analyst Weigh In

MGY has been the topic of a number of recent research reports. Wells Fargo & Company cut their price target on Magnolia Oil & Gas from $23.00 to $21.00 and set an "equal weight" rating on the stock in a research note on Friday, January 19th. Bank of America initiated coverage on Magnolia Oil & Gas in a research report on Tuesday, February 27th. They set a "buy" rating and a $25.00 price target on the stock. Citigroup lowered Magnolia Oil & Gas from a "neutral" rating to a "sell" rating and dropped their price objective for the stock from $24.00 to $18.00 in a research note on Monday, December 11th. The Goldman Sachs Group raised their price objective on Magnolia Oil & Gas from $24.50 to $28.00 and gave the stock a "buy" rating in a report on Tuesday, March 26th. Finally, Truist Financial lifted their price objective on Magnolia Oil & Gas from $32.00 to $33.00 and gave the company a "buy" rating in a research note on Friday, February 16th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $25.71.

Magnolia Oil & Gas Stock Performance

The stock has a market cap of $5.35 billion, a price-to-earnings ratio of 12.78, a PEG ratio of 1.66 and a beta of 2.03. The stock's fifty day moving average is $22.52 and its 200-day moving average is $22.02. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.21.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last issued its quarterly earnings data on Wednesday, February 14th. The company reported $0.50 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.54 by ($0.04). The business had revenue of $322.63 million during the quarter, compared to the consensus estimate of $324.95 million. Magnolia Oil & Gas had a net margin of 31.65% and a return on equity of 21.21%. On average, analysts forecast that Magnolia Oil & Gas Co. will post 2 EPS for the current year.

Magnolia Oil & Gas Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 16th were given a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 1.99%. This is a boost from Magnolia Oil & Gas's previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Thursday, February 15th. Magnolia Oil & Gas's dividend payout ratio (DPR) is presently 25.37%.

Hedge Funds Weigh In On Magnolia Oil & Gas

Several large investors have recently modified their holdings of MGY. Private Wealth Management Group LLC acquired a new stake in Magnolia Oil & Gas during the fourth quarter worth about $33,000. VisionPoint Advisory Group LLC boosted its position in shares of Magnolia Oil & Gas by 112.3% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 1,537 shares of the company's stock valued at $35,000 after purchasing an additional 813 shares during the period. State of Wyoming raised its stake in shares of Magnolia Oil & Gas by 38.8% during the 2nd quarter. State of Wyoming now owns 2,552 shares of the company's stock worth $53,000 after buying an additional 713 shares in the last quarter. KBC Group NV acquired a new stake in Magnolia Oil & Gas during the 4th quarter valued at $57,000. Finally, Captrust Financial Advisors raised its position in Magnolia Oil & Gas by 42.4% in the first quarter. Captrust Financial Advisors now owns 3,608 shares of the company's stock valued at $85,000 after purchasing an additional 1,075 shares during the period. Institutional investors own 94.73% of the company's stock.

Magnolia Oil & Gas Company Profile

Magnolia Oil & Gas Corporation, an independent oil and natural gas company, engages in the acquisition, development, exploration, and production of oil, natural gas, and natural gas liquids reserves in the United States. Its properties are located primarily in Karnes County and the Giddings area in South Texas principally comprising the Eagle Ford Shale and the Austin Chalk formation.