Susquehanna Increases Magnolia Oil & Gas (NYSE:MGY) Price Target to $31.00

Magnolia Oil & Gas (NYSE:MGY - Free Report) had its target price increased by Susquehanna from $28.00 to $31.00 in a research note published on Monday morning, Benzinga reports. The firm currently has a positive rating on the stock.

Several other equities research analysts have also recently issued reports on the stock. Truist Financial lifted their price objective on shares of Magnolia Oil & Gas from $32.00 to $33.00 and gave the company a buy rating in a research report on Friday, February 16th. Bank of America assumed coverage on shares of Magnolia Oil & Gas in a report on Tuesday, February 27th. They issued a buy rating and a $25.00 price target on the stock. The Goldman Sachs Group increased their price objective on shares of Magnolia Oil & Gas from $24.50 to $28.00 and gave the company a buy rating in a report on Tuesday, March 26th. Piper Sandler restated a neutral rating and set a $29.00 price objective on shares of Magnolia Oil & Gas in a research report on Friday. Finally, Citigroup boosted their target price on Magnolia Oil & Gas from $18.00 to $22.00 and gave the stock a sell rating in a research report on Monday, April 15th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given 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 $27.63.

Magnolia Oil & Gas Stock Performance

NYSE MGY traded up $0.10 on Monday, reaching $25.72. 3,290,461 shares of the stock were exchanged, compared to its average volume of 3,260,071. 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 has a one year low of $18.72 and a one year high of $27.33. The firm has a market capitalization of $5.25 billion, a PE ratio of 12.50, a PEG ratio of 1.58 and a beta of 2.05. The company's 50-day simple moving average is $24.17 and its two-hundred day simple moving average is $22.39.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last released its earnings results on Wednesday, February 14th. The company reported $0.50 earnings per share for the quarter, missing analysts' consensus estimates of $0.54 by ($0.04). The firm had revenue of $322.63 million for the quarter, compared to analysts' expectations of $324.95 million. Magnolia Oil & Gas had a net margin of 31.65% and a return on equity of 21.21%. Analysts expect that Magnolia Oil & Gas will post 2.08 EPS for the current fiscal year.

Magnolia Oil & Gas Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 16th were paid a dividend of $0.13 per share. This is a boost from Magnolia Oil & Gas's previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a yield of 2.02%. The ex-dividend date of this dividend was Thursday, February 15th. Magnolia Oil & Gas's payout ratio is presently 25.37%.

Institutional Investors Weigh In On Magnolia Oil & Gas

Several institutional investors have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC lifted its holdings in shares of Magnolia Oil & Gas by 9.9% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 3,041,390 shares of the company's stock worth $64,751,000 after acquiring an additional 274,908 shares during the last quarter. Vest Financial LLC boosted its position in shares of Magnolia Oil & Gas by 51.4% during the fourth quarter. Vest Financial LLC now owns 606,277 shares of the company's stock valued at $12,908,000 after buying an additional 205,924 shares during the period. VisionPoint Advisory Group LLC grew its stake in shares of Magnolia Oil & Gas by 112.3% during the third quarter. VisionPoint Advisory Group LLC now owns 1,537 shares of the company's stock valued at $35,000 after buying an additional 813 shares during the last quarter. Sei Investments Co. raised its holdings in shares of Magnolia Oil & Gas by 6.2% in the third quarter. Sei Investments Co. now owns 818,397 shares of the company's stock worth $18,750,000 after buying an additional 47,564 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Magnolia Oil & Gas by 12.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,735,955 shares of the company's stock worth $39,771,000 after buying an additional 195,467 shares during the period. 94.73% of the stock is owned by institutional investors.

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.