Magnolia Oil & Gas - MGY Stock Forecast, Price & News

Magnolia Oil & Gas Corporation 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 Field in South Texas principally comprising the Eagle Ford Shale and the Austin Chalk formation. As of December 31, 2021, the company's assets consisted of a total leasehold position of 4,71,263 net acres, including 23,785 net acres in Karnes and 4,47,478 net acres in the Giddings area, as well as holds 1,292 net wells with a total production capacity of 66.0 thousand barrels of oil equivalent per day. The company was incorporated in 2017 and is headquartered in Houston, Texas.

Wall Street Analysts Forecast Growth

MGY has been the topic of a number of analyst reports. KeyCorp lifted their price objective on shares of Magnolia Oil & Gas from $27.00 to $28.00 and gave the company an "overweight" rating in a research report on Thursday, April 14th. MKM Partners reiterated a "buy" rating and issued a $26.00 price objective on shares of Magnolia Oil & Gas in a research report on Wednesday, July 20th. Susquehanna lifted their price objective on shares of Magnolia Oil & Gas from $24.00 to $29.00 and gave the company a "positive" rating in a research report on Monday, April 25th. Susquehanna Bancshares boosted their target price on shares of Magnolia Oil & Gas from $24.00 to $29.00 and gave the stock a "positive" rating in a research report on Monday, April 25th. Finally, Truist Financial boosted their target price on shares of Magnolia Oil & Gas from $35.00 to $39.00 and gave the stock a "buy" rating in a research report on Tuesday, July 19th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $28.56.

Magnolia Oil & Gas Price Performance

Shares of NYSE:MGY traded up $0.37 during midday trading on Friday, hitting $22.17. 1,224,497 shares of the stock were exchanged, compared to its average volume of 1,451,863. The stock has a market cap of $4.94 billion, a P/E ratio of 5.98 and a beta of 2.13. The company has a current ratio of 2.22, a quick ratio of 2.22 and a debt-to-equity ratio of 0.36. Magnolia Oil & Gas has a twelve month low of $12.79 and a twelve month high of $30.31. The company has a 50 day moving average price of $23.49 and a 200-day moving average price of $23.36.

Magnolia Oil & Gas (NYSE:MGY - Get Rating) last released its quarterly earnings results on Monday, May 9th. The company reported $0.90 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.90. The business had revenue of $377.84 million during the quarter, compared to the consensus estimate of $374.63 million. Magnolia Oil & Gas had a return on equity of 67.32% and a net margin of 46.42%. The business's revenue was up 80.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.38 EPS. On average, research analysts forecast that Magnolia Oil & Gas will post 4.53 earnings per share for the current year.

Magnolia Oil & Gas Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 1st. Stockholders of record on Friday, August 12th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.80%. The ex-dividend date of this dividend is Thursday, August 11th. Magnolia Oil & Gas's dividend payout ratio (DPR) is presently 10.78%.

Insider Transactions at Magnolia Oil & Gas

In related news, Director Ltd. Enervest sold 7,500,000 shares of the business's stock in a transaction dated Monday, June 6th. The shares were sold at an average price of $27.01, for a total value of $202,575,000.00. Following the completion of the transaction, the director now owns 10,912,450 shares of the company's stock, valued at approximately $294,745,274.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 4.80% of the company's stock.