Magnolia Oil & Gas (NYSE:MGY) Reaches New 52-Week High at $27.33

Magnolia Oil & Gas Co. (NYSE:MGY - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Friday . The company traded as high as $27.33 and last traded at $27.09, with a volume of 100728 shares changing hands. The stock had previously closed at $26.80.

Analyst Ratings Changes

MGY has been the topic of a number of research analyst reports. Mizuho increased their price objective on shares of Magnolia Oil & Gas from $24.00 to $26.00 and gave the stock a "neutral" rating in a report on Thursday, March 14th. Truist Financial raised their price target on shares of Magnolia Oil & Gas from $32.00 to $33.00 and gave the company a "buy" rating in a report on Friday, February 16th. The Goldman Sachs Group upped 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. Bank of America began coverage on Magnolia Oil & Gas in a research note on Tuesday, February 27th. They issued a "buy" rating and a $25.00 target price for the company. Finally, Piper Sandler cut their price target on Magnolia Oil & Gas from $30.00 to $29.00 and set an "overweight" rating on the stock in a research note on Wednesday, January 24th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $25.71.

Magnolia Oil & Gas Stock Down 0.4 %

The business's fifty day simple moving average is $23.47 and its 200 day simple moving average is $22.25. The stock has a market cap of $5.45 billion, a price-to-earnings ratio of 13.01, a price-to-earnings-growth ratio of 1.69 and a beta of 2.05. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.21.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last posted its quarterly earnings results on Wednesday, February 14th. The company reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.04). The company had revenue of $322.63 million during the quarter, compared to the consensus estimate of $324.95 million. Magnolia Oil & Gas had a return on equity of 21.21% and a net margin of 31.65%. Equities analysts forecast that Magnolia Oil & Gas Co. will post 2.03 earnings per share for the current fiscal year.

Magnolia Oil & Gas Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 16th were given a dividend of $0.13 per share. This is a positive change from Magnolia Oil & Gas's previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a dividend yield of 1.95%. The ex-dividend date of this dividend was Thursday, February 15th. Magnolia Oil & Gas's payout ratio is presently 25.37%.

Institutional Trading of Magnolia Oil & Gas

A number of hedge funds have recently modified their holdings of MGY. Advisor Group Holdings Inc. increased its position in shares of Magnolia Oil & Gas by 121.9% in the 1st quarter. Advisor Group Holdings Inc. now owns 16,774 shares of the company's stock valued at $396,000 after buying an additional 9,214 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Magnolia Oil & Gas by 3.6% during the first quarter. Bank of New York Mellon Corp now owns 1,118,918 shares of the company's stock worth $26,462,000 after acquiring an additional 39,115 shares in the last quarter. Acadian Asset Management LLC grew its stake in Magnolia Oil & Gas by 320.2% in the first quarter. Acadian Asset Management LLC now owns 10,686 shares of the company's stock valued at $252,000 after acquiring an additional 8,143 shares during the period. MetLife Investment Management LLC increased its holdings in shares of Magnolia Oil & Gas by 55.1% in the first quarter. MetLife Investment Management LLC now owns 77,409 shares of the company's stock worth $1,831,000 after acquiring an additional 27,498 shares in the last quarter. Finally, Panagora Asset Management Inc. acquired a new stake in shares of Magnolia Oil & Gas during the first quarter worth about $1,084,000. 94.73% of the stock is currently owned by institutional investors and hedge funds.

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.