Magnolia Oil & Gas (NYSE:MGY) Price Target Raised to $26.00 at Mizuho

Magnolia Oil & Gas (NYSE:MGY) had its target price increased by Mizuho from $24.00 to $26.00 in a research report sent to investors on Thursday, Benzinga reports. They currently have a neutral rating on the stock.

MGY has been the topic of several other research reports. Wells Fargo & Company dropped their target price on Magnolia Oil & Gas from $23.00 to $21.00 and set an equal weight rating on the stock in a report on Friday, January 19th. Piper Sandler cut their price objective on Magnolia Oil & Gas from $30.00 to $29.00 and set an overweight rating for the company in a report on Wednesday, January 24th. Truist Financial raised their target price on Magnolia Oil & Gas from $32.00 to $33.00 and gave the company a buy rating in a research note on Friday, February 16th. Citigroup downgraded shares of Magnolia Oil & Gas from a neutral rating to a sell rating and cut their price target for the company from $24.00 to $18.00 in a report on Monday, December 11th. Finally, Bank of America initiated coverage on shares of Magnolia Oil & Gas in a research note on Tuesday, February 27th. They issued a buy rating and a $25.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of Hold and an average price target of $25.33.

Magnolia Oil & Gas Stock Performance

Shares of MGY traded up $0.41 during trading hours on Thursday, reaching $24.27. 3,748,361 shares of the company’s stock traded hands, compared to its average volume of 3,585,435. Magnolia Oil & Gas has a twelve month low of $18.72 and a twelve month high of $24.34. The business’s fifty day simple moving average is $21.46 and its two-hundred day simple moving average is $21.88. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.88 and a quick ratio of 1.88. The firm has a market capitalization of $4.96 billion, a price-to-earnings ratio of 11.84, a P/E/G ratio of 1.54 and a beta of 2.03.

Magnolia Oil & Gas (NYSE:MGY) last announced its earnings results on Wednesday, February 14th. The company reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.04). Magnolia Oil & Gas had a net margin of 31.65% and a return on equity of 21.21%. The company had revenue of $322.63 million during the quarter, compared to the consensus estimate of $324.95 million. Analysts predict that Magnolia Oil & Gas will post 1.99 earnings per share for the current year.

Magnolia Oil & Gas Increases Dividend

The company 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. The ex-dividend date was Thursday, February 15th. This is a positive change from Magnolia Oil & Gas’s previous quarterly dividend of $0.12. This represents a $0.52 dividend on an annualized basis and a yield of 2.14%. Magnolia Oil & Gas’s dividend payout ratio is currently 25.37%.

Hedge Funds Weigh In On Magnolia Oil & Gas

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of Montreal Can increased its holdings in shares of Magnolia Oil & Gas by 2.4% in the 2nd quarter. Bank of Montreal Can now owns 20,230 shares of the company’s stock valued at $463,000 after purchasing an additional 473 shares during the period. Albert D Mason Inc. lifted its position in Magnolia Oil & Gas by 1.6% in the 4th quarter. Albert D Mason Inc. now owns 31,094 shares of the company’s stock worth $662,000 after buying an additional 490 shares in the last quarter. Advantage Alpha Capital Partners LP grew its holdings in shares of Magnolia Oil & Gas by 1.1% during the 4th quarter. Advantage Alpha Capital Partners LP now owns 46,895 shares of the company’s stock valued at $1,100,000 after acquiring an additional 501 shares in the last quarter. Signaturefd LLC increased its stake in shares of Magnolia Oil & Gas by 6.7% in the third quarter. Signaturefd LLC now owns 8,325 shares of the company’s stock worth $191,000 after acquiring an additional 523 shares during the last quarter. Finally, Hsbc Holdings PLC raised its holdings in shares of Magnolia Oil & Gas by 4.7% during the first quarter. Hsbc Holdings PLC now owns 12,112 shares of the company’s stock worth $293,000 after acquiring an additional 539 shares in the last quarter. 94.73% of the stock is currently owned by hedge funds and other 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.