Magnolia Oil & Gas (NYSE:MGY) Stock Price Expected to Rise, UBS Group Analyst Says

Magnolia Oil & Gas (NYSE:MGY - Free Report) had its price objective raised by UBS Group from $26.00 to $29.00 in a research report released on Friday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other research firms also recently weighed in on MGY. Bank of America raised their target price on Magnolia Oil & Gas from $23.00 to $25.00 and gave the company a "neutral" rating in a research report on Friday, May 23rd. Williams Trading set a $29.00 target price on Magnolia Oil & Gas in a research note on Wednesday, March 5th. Piper Sandler cut their target price on Magnolia Oil & Gas from $25.00 to $24.00 and set a "neutral" rating for the company in a research note on Tuesday, May 13th. Citigroup dropped their price objective on Magnolia Oil & Gas from $22.00 to $19.00 and set a "sell" rating for the company in a research note on Tuesday, April 8th. Finally, Susquehanna decreased their target price on Magnolia Oil & Gas from $31.00 to $30.00 and set a "positive" rating for the company in a report on Tuesday, April 22nd. Two 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, the stock presently has an average rating of "Hold" and a consensus target price of $27.08.

Magnolia Oil & Gas Stock Performance

Shares of MGY traded up $0.52 during mid-day trading on Friday, reaching $24.13. The company had a trading volume of 4,846,396 shares, compared to its average volume of 2,299,060. Magnolia Oil & Gas has a 52-week low of $19.09 and a 52-week high of $29.02. 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 capitalization of $4.64 billion, a P/E ratio of 12.50, a PEG ratio of 3.01 and a beta of 1.29. The stock has a 50 day moving average of $21.75 and a two-hundred day moving average of $23.46.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $0.55 earnings per share (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%. Magnolia Oil & Gas's revenue for the quarter was up 9.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.46 earnings per share. On average, analysts expect that Magnolia Oil & Gas will post 2.1 earnings per share for the current year.

Magnolia Oil & Gas Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 12th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.49%. The ex-dividend date of this dividend was Monday, May 12th. Magnolia Oil & Gas's dividend payout ratio (DPR) is currently 29.85%.

Institutional Trading of Magnolia Oil & Gas

A number of hedge funds and other institutional investors have recently made changes to their positions in MGY. First Trust Advisors LP increased its position in Magnolia Oil & Gas by 24.6% in the 4th quarter. First Trust Advisors LP now owns 15,410,496 shares of the company's stock valued at $360,297,000 after acquiring an additional 3,038,709 shares during the period. Encompass Capital Advisors LLC acquired a new position in Magnolia Oil & Gas during the 1st quarter worth approximately $53,819,000. Jane Street Group LLC boosted its stake in shares of Magnolia Oil & Gas by 1,382.9% during the 1st quarter. Jane Street Group LLC now owns 1,059,335 shares of the company's stock worth $26,759,000 after acquiring an additional 987,896 shares in the last quarter. Millennium Management LLC boosted its stake in shares of Magnolia Oil & Gas by 506.2% during the 1st quarter. Millennium Management LLC now owns 1,022,836 shares of the company's stock worth $25,837,000 after acquiring an additional 854,113 shares in the last quarter. Finally, Nuveen LLC purchased a new stake in shares of Magnolia Oil & Gas during the 1st quarter worth approximately $21,066,000. Institutional investors and hedge funds own 94.73% of the company's stock.

About Magnolia Oil & Gas

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.