Magnolia Oil & Gas (NYSE:MGY - Free Report) had its target price boosted by Wells Fargo & Company from $23.00 to $27.00 in a report published on Thursday morning, Benzinga reports. They currently have an equal weight rating on the stock.
Other equities research analysts have also issued research reports about the stock. Truist Financial increased their price objective on shares of Magnolia Oil & Gas from $32.00 to $33.00 and gave the stock a buy rating in a report on Friday, February 16th. The Goldman Sachs Group increased their price target on shares of Magnolia Oil & Gas from $24.50 to $28.00 and gave the company a buy rating in a research note on Tuesday, March 26th. Mizuho boosted their price objective on shares of Magnolia Oil & Gas from $24.00 to $26.00 and gave the stock a neutral rating in a research report on Thursday, March 14th. Citigroup increased their price objective on Magnolia Oil & Gas from $18.00 to $22.00 and gave the company a sell rating in a research report on Monday. Finally, Bank of America initiated 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. One analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of Hold and a consensus target price of $27.14.
Read Our Latest Report on MGY
Magnolia Oil & Gas Price Performance
Shares of NYSE:MGY traded down $0.14 during trading on Thursday, reaching $25.68. The stock had a trading volume of 2,019,844 shares, compared to its average volume of 3,267,906. The stock has a market capitalization of $5.24 billion, a PE ratio of 12.52, a P/E/G ratio of 1.60 and a beta of 2.05. Magnolia Oil & Gas has a 52 week low of $18.72 and a 52 week high of $27.33. The business's 50-day moving average price is $23.96 and its 200 day moving average price is $22.33. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.88 and a quick ratio of 1.88.
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 the consensus estimate 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%. As a group, equities analysts predict that Magnolia Oil & Gas will post 2.08 earnings per share for the current year.
Magnolia Oil & Gas Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 16th were paid a $0.13 dividend. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.03%. This is an increase from Magnolia Oil & Gas's previous quarterly dividend of $0.12. Magnolia Oil & Gas's dividend payout ratio is 25.37%.
Institutional Investors Weigh In On Magnolia Oil & Gas
Institutional investors have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC raised its stake in Magnolia Oil & Gas by 4.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,184,107 shares of the company's stock worth $82,628,000 after buying an additional 142,717 shares during the period. Oliver Luxxe Assets LLC increased its stake in Magnolia Oil & Gas by 2.7% during the 1st quarter. Oliver Luxxe Assets LLC now owns 44,618 shares of the company's stock worth $1,158,000 after purchasing an additional 1,179 shares in the last quarter. Mather Group LLC. acquired a new stake in Magnolia Oil & Gas during the 1st quarter worth approximately $27,000. PNC Financial Services Group Inc. grew its position in Magnolia Oil & Gas by 33.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 53,570 shares of the company's stock valued at $1,141,000 after purchasing an additional 13,288 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in Magnolia Oil & Gas by 15.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 790,363 shares of the company's stock valued at $16,827,000 after buying an additional 103,183 shares during the last quarter. 94.73% of the stock is owned by institutional investors and hedge funds.
Magnolia Oil & Gas Company Profile
(
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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.
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