Magnolia Oil & Gas Co. (NYSE:MGY) Receives $27.64 Consensus Price Target from Analysts

Shares of Magnolia Oil & Gas Co. (NYSE:MGYGet Free Report) have received an average recommendation of “Hold” from the twelve ratings firms that are presently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $27.27.

Several research firms recently commented on MGY. Wolfe Research began coverage on Magnolia Oil & Gas in a research note on Thursday, July 18th. They issued an “outperform” rating and a $32.00 price objective for the company. JPMorgan Chase & Co. reduced their price objective on Magnolia Oil & Gas from $26.00 to $23.00 and set a “neutral” rating for the company in a research note on Thursday, September 12th. Susquehanna reduced their price objective on Magnolia Oil & Gas from $33.00 to $32.00 and set a “positive” rating for the company in a research note on Wednesday, September 4th. Mizuho reduced their price objective on Magnolia Oil & Gas from $28.00 to $27.00 and set a “neutral” rating for the company in a research note on Monday, September 16th. Finally, Piper Sandler dropped their target price on Magnolia Oil & Gas from $29.00 to $26.00 and set a “neutral” rating for the company in a report on Thursday, August 15th.

Read Our Latest Analysis on Magnolia Oil & Gas

Insider Transactions at Magnolia Oil & Gas

In other news, Director Ltd. Enervest sold 7,000,000 shares of the stock in a transaction on 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 transaction, the director now directly owns 2,099,403 shares in the company, valued at approximately $54,290,561.58. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On Magnolia Oil & Gas

A number of hedge funds have recently modified their holdings of the business. Massmutual Trust Co. FSB ADV boosted its holdings in Magnolia Oil & Gas by 1,753.6% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,038 shares of the company’s stock valued at $26,000 after acquiring an additional 982 shares during the period. Opal Wealth Advisors LLC purchased a new position in Magnolia Oil & Gas during the 2nd quarter valued at about $26,000. Mather Group LLC. purchased a new position in Magnolia Oil & Gas during the 1st quarter valued at about $27,000. GAMMA Investing LLC boosted its holdings in Magnolia Oil & Gas by 184.4% during the 2nd quarter. GAMMA Investing LLC now owns 1,607 shares of the company’s stock valued at $41,000 after acquiring an additional 1,042 shares during the period. Finally, Fidelis Capital Partners LLC purchased a new position in Magnolia Oil & Gas during the 1st quarter valued at about $50,000. 94.73% of the stock is currently owned by hedge funds and other institutional investors.

Magnolia Oil & Gas Trading Up 2.3 %

Shares of MGY stock opened at $26.85 on Tuesday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.28 and a quick ratio of 1.28. The company has a market cap of $5.44 billion, a price-to-earnings ratio of 13.36, a PEG ratio of 1.29 and a beta of 1.99. The stock has a 50 day simple moving average of $24.88 and a 200-day simple moving average of $25.36. Magnolia Oil & Gas has a 1-year low of $19.16 and a 1-year high of $27.63.

Magnolia Oil & Gas (NYSE:MGYGet Free Report) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.56 EPS for the quarter, beating the consensus estimate of $0.51 by $0.05. Magnolia Oil & Gas had a return on equity of 21.18% and a net margin of 29.44%. The firm had revenue of $336.73 million during the quarter, compared to the consensus estimate of $340.72 million. On average, equities research analysts expect that Magnolia Oil & Gas will post 1.98 EPS for the current fiscal year.

Magnolia Oil & Gas Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were issued a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 1.94%. The ex-dividend date of this dividend was Friday, August 9th. Magnolia Oil & Gas’s payout ratio is currently 25.87%.

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.

Further Reading

Analyst Recommendations for Magnolia Oil & Gas (NYSE:MGY)

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