Magnolia Oil & Gas Co. (NYSE:MGY) Given Consensus Rating of “Hold” by Brokerages

by · The Markets Daily

Shares of Magnolia Oil & Gas Co. (NYSE:MGY – Get Free Report) have been given an average rating of “Hold” by the thirteen analysts that are currently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and six have issued a buy recommendation on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $27.58.

MGY has been the subject of a number of recent research reports. JPMorgan Chase & Co. cut their price objective on Magnolia Oil & Gas from $26.00 to $23.00 and set a “neutral” rating for the company in a research report on Thursday, September 12th. Mizuho increased their price target on Magnolia Oil & Gas from $27.00 to $28.00 and gave the company a “neutral” rating in a research report on Monday, December 16th. Susquehanna dropped their price target on Magnolia Oil & Gas from $33.00 to $32.00 and set a “positive” rating on the stock in a research note on Wednesday, September 4th. Wells Fargo & Company lowered shares of Magnolia Oil & Gas from an “equal weight” rating to an “underweight” rating and reduced their price objective for the company from $26.00 to $22.00 in a research note on Tuesday, October 1st. Finally, Siebert Williams Shank downgraded shares of Magnolia Oil & Gas from a “buy” rating to a “hold” rating and set a $30.00 target price on the stock. in a research report on Tuesday, October 15th.

Get Our Latest Analysis on Magnolia Oil & Gas

Insider Activity

In other news, Director Ltd. Enervest sold 7,000,000 shares of Magnolia Oil & Gas stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $25.86, for a total transaction of $181,020,000.00. Following the completion of the sale, the director now directly owns 2,099,403 shares in the company, valued at $54,290,561.58. The trade was a 76.93 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Magnolia Oil & Gas

Hedge funds have recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. bought a new stake in Magnolia Oil & Gas in the third quarter worth approximately $25,000. First Horizon Advisors Inc. lifted its stake in shares of Magnolia Oil & Gas by 64.7% in the 3rd quarter. First Horizon Advisors Inc. now owns 1,008 shares of the company’s stock valued at $25,000 after purchasing an additional 396 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Magnolia Oil & Gas by 62.4% in the third quarter. GAMMA Investing LLC now owns 2,609 shares of the company’s stock worth $64,000 after purchasing an additional 1,002 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in Magnolia Oil & Gas by 61.9% during the second quarter. Nisa Investment Advisors LLC now owns 2,850 shares of the company’s stock valued at $72,000 after buying an additional 1,090 shares in the last quarter. Finally, Covestor Ltd lifted its position in shares of Magnolia Oil & Gas by 36.8% in the third quarter. Covestor Ltd now owns 2,986 shares of the company’s stock worth $73,000 after buying an additional 804 shares during the last quarter. Institutional investors and hedge funds own 94.73% of the company’s stock.

Magnolia Oil & Gas Price Performance

Shares of NYSE MGY opened at $22.89 on Friday. Magnolia Oil & Gas has a twelve month low of $19.16 and a twelve month high of $29.02. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.20. The firm has a 50-day moving average of $26.31 and a two-hundred day moving average of $25.60. The company has a market capitalization of $4.50 billion, a price-to-earnings ratio of 11.33, a PEG ratio of 1.29 and a beta of 1.99.

Magnolia Oil & Gas (NYSE:MGY – Get Free Report) last released its earnings results on Wednesday, October 30th. The company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.04. The business had revenue of $333.14 million for the quarter, compared to the consensus estimate of $331.45 million. Magnolia Oil & Gas had a net margin of 28.88% and a return on equity of 20.78%. As a group, analysts expect that Magnolia Oil & Gas will post 2 earnings per share for the current fiscal year.

Magnolia Oil & Gas Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Friday, November 8th were paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date was Friday, November 8th. Magnolia Oil & Gas’s dividend payout ratio (DPR) is currently 25.74%.

About Magnolia Oil & Gas

(Get Free Report

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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