Magnolia Oil & Gas' (MGY) Buy Rating Reiterated at UBS Group

UBS Group restated their buy rating on shares of Magnolia Oil & Gas (NYSE:MGY - Free Report) in a research report report published on Friday, MarketBeat Ratings reports. They currently have a $29.00 price target on the stock, up from their prior price target of $26.00.

Several other research analysts have also commented on MGY. Williams Trading set a $29.00 price objective on Magnolia Oil & Gas in a research report on Wednesday, March 5th. JPMorgan Chase & Co. dropped their target price on shares of Magnolia Oil & Gas from $28.00 to $24.00 and set a "neutral" rating for the company in a research report on Thursday, March 13th. Piper Sandler reduced their price target on shares of Magnolia Oil & Gas from $25.00 to $24.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 13th. Citigroup decreased their target price on shares of 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. Finally, Susquehanna cut their price target on Magnolia Oil & Gas from $31.00 to $30.00 and set a "positive" rating on the stock in a report on Tuesday, April 22nd. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $27.00.

Magnolia Oil & Gas Trading Down 0.4%

Shares of MGY stock traded down $0.10 on Friday, reaching $24.12. 2,505,609 shares of the stock were exchanged, compared to its average volume of 2,663,717. The company has a quick ratio of 1.47, a current ratio of 1.42 and a debt-to-equity ratio of 0.20. The stock has a market cap of $4.64 billion, a P/E ratio of 12.50, a price-to-earnings-growth ratio of 3.01 and a beta of 1.29. The firm has a 50 day moving average of $21.75 and a two-hundred day moving average of $23.40. Magnolia Oil & Gas has a 1-year low of $19.09 and a 1-year high of $29.02.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The company reported $0.55 EPS for the quarter, topping analysts' consensus estimates of $0.53 by $0.02. The company had revenue of $350.30 million for the quarter, compared to the consensus estimate of $337.83 million. Magnolia Oil & Gas had a return on equity of 20.74% and a net margin of 27.82%. The company's quarterly revenue was up 9.7% compared to the same quarter last year. During the same period last year, the business posted $0.46 EPS. On average, research analysts anticipate that Magnolia Oil & Gas will post 2.1 EPS for the current 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 issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Monday, May 12th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.49%. Magnolia Oil & Gas's dividend payout ratio is 29.85%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in MGY. Larson Financial Group LLC grew its holdings in shares of Magnolia Oil & Gas by 112.3% during the 4th quarter. Larson Financial Group LLC now owns 1,072 shares of the company's stock valued at $25,000 after acquiring an additional 567 shares in the last quarter. Opal Wealth Advisors LLC acquired a new position in Magnolia Oil & Gas in the 1st quarter worth about $30,000. Quarry LP increased its position in Magnolia Oil & Gas by 1,047.8% in the 4th quarter. Quarry LP now owns 2,135 shares of the company's stock worth $50,000 after purchasing an additional 1,949 shares during the last quarter. Parallel Advisors LLC raised its stake in shares of Magnolia Oil & Gas by 122.8% during the 1st quarter. Parallel Advisors LLC now owns 2,308 shares of the company's stock worth $58,000 after purchasing an additional 1,272 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its holdings in shares of Magnolia Oil & Gas by 95.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 3,777 shares of the company's stock valued at $88,000 after buying an additional 1,844 shares during the last quarter. Institutional investors and hedge funds own 94.73% of the company's stock.

Magnolia Oil & Gas Company Profile

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.