Magnolia Oil & Gas (NYSE:MGY) PT Lowered to $32.00 at Susquehanna

Magnolia Oil & Gas (NYSE:MGY) had its price objective decreased by Susquehanna from $33.00 to $32.00 in a report issued on Wednesday morning, Benzinga reports. Susquehanna currently has a positive rating on the stock.

Several other analysts also recently weighed in on the stock. Capital One Financial initiated coverage on shares of Magnolia Oil & Gas in a research note on Tuesday, June 11th. They issued an overweight rating and a $28.00 price target for the company. Mizuho increased their target price on Magnolia Oil & Gas from $26.00 to $28.00 and gave the company a neutral rating in a report on Monday, May 13th. Bank of America lifted their price target on Magnolia Oil & Gas from $28.00 to $29.00 and gave the stock a buy rating in a research note on Tuesday, July 23rd. Wolfe Research initiated coverage on Magnolia Oil & Gas in a research note on Thursday, July 18th. They set an outperform rating and a $32.00 price objective for the company. Finally, Piper Sandler decreased their target price on shares of Magnolia Oil & Gas from $29.00 to $26.00 and set a neutral rating on the stock in a research note on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of Hold and an average price target of $28.60.

Magnolia Oil & Gas Price Performance

Shares of Magnolia Oil & Gas stock opened at $23.57 on Wednesday. The firm has a market capitalization of $4.69 billion, a PE ratio of 11.73, a price-to-earnings-growth ratio of 1.15 and a beta of 2.00. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.21. Magnolia Oil & Gas has a 12 month low of $19.16 and a 12 month high of $27.63. The business’s 50-day moving average price is $25.43 and its 200-day moving average price is $25.13.

Magnolia Oil & Gas (NYSE:MGY) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.05. The business had revenue of $336.73 million for the quarter, compared to analysts’ expectations of $340.72 million. Magnolia Oil & Gas had a net margin of 29.44% and a return on equity of 21.18%. Sell-side analysts forecast that Magnolia Oil & Gas will post 2.13 EPS for the current fiscal year.

Magnolia Oil & Gas Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were issued a $0.13 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $0.52 annualized dividend and a yield of 2.21%. Magnolia Oil & Gas’s dividend payout ratio (DPR) is presently 25.87%.

Institutional Investors Weigh In On Magnolia Oil & Gas

A number of large investors have recently modified their holdings of MGY. Mather Group LLC. purchased a new stake in Magnolia Oil & Gas in the first quarter worth about $27,000. Massmutual Trust Co. FSB ADV lifted its stake in shares of Magnolia Oil & Gas by 1,753.6% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,038 shares of the company’s stock valued at $26,000 after purchasing an additional 982 shares during the period. Opal Wealth Advisors LLC bought a new stake in shares of Magnolia Oil & Gas during the second quarter valued at approximately $26,000. Private Wealth Management Group LLC purchased a new stake in Magnolia Oil & Gas in the fourth quarter worth $33,000. Finally, GAMMA Investing LLC raised its holdings in Magnolia Oil & Gas by 184.4% in the second quarter. GAMMA Investing LLC now owns 1,607 shares of the company’s stock worth $41,000 after purchasing an additional 1,042 shares in the last quarter. Institutional investors own 94.73% of the company’s stock.

About Magnolia Oil & Gas

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.