Magnolia Oil & Gas (NYSE:MGY) Price Target Raised to $33.00

Magnolia Oil & Gas (NYSE:MGY) had its target price hoisted by Truist Financial from $31.00 to $33.00 in a report issued on Friday morning, Benzinga reports. Truist Financial currently has a buy rating on the stock.

A number of other research analysts also recently issued reports on the company. Siebert Williams Shank downgraded Magnolia Oil & Gas from a “buy” rating to a “hold” rating and set a $30.00 price objective for the company. in a report on Tuesday, October 15th. Susquehanna decreased their target price on shares of Magnolia Oil & Gas from $33.00 to $32.00 and set a “positive” rating for the company in a research report on Wednesday, September 4th. JPMorgan Chase & Co. cut their price target on shares of Magnolia Oil & Gas from $26.00 to $23.00 and set a “neutral” rating on the stock in a research report on Thursday, September 12th. Piper Sandler reduced their price objective on shares of Magnolia Oil & Gas from $29.00 to $26.00 and set a “neutral” rating for the company in a research note on Thursday, August 15th. Finally, Bank of America lifted their target price on Magnolia Oil & Gas from $28.00 to $29.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $27.67.

Magnolia Oil & Gas Stock Performance

MGY stock opened at $25.72 on Friday. The company has a 50 day moving average price of $25.31 and a 200 day moving average price of $25.35. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.47 and a quick ratio of 1.47. The stock has a market capitalization of $5.12 billion, a PE ratio of 12.73, a price-to-earnings-growth ratio of 1.28 and a beta of 1.99. Magnolia Oil & Gas has a fifty-two week low of $19.16 and a fifty-two week high of $27.63.

Magnolia Oil & Gas (NYSE:MGY) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.52 earnings per share for the quarter, beating 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%. Analysts forecast that Magnolia Oil & Gas will post 1.98 EPS for the current year.

Magnolia Oil & Gas Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be issued a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 2.02%. The ex-dividend date of this dividend is Friday, November 8th. Magnolia Oil & Gas’s dividend payout ratio is 25.74%.

Insider Buying and Selling

In other news, Director Ltd. Enervest sold 7,000,000 shares of the firm’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $25.86, for a total value of $181,020,000.00. Following the completion of the sale, the director now directly owns 2,099,403 shares of the company’s stock, valued at approximately $54,290,561.58. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in MGY. Harbor Capital Advisors Inc. purchased a new position in Magnolia Oil & Gas during the 3rd quarter valued at about $25,000. Massmutual Trust Co. FSB ADV boosted its position 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 worth $26,000 after purchasing an additional 982 shares in the last quarter. Opal Wealth Advisors LLC purchased a new stake in shares of Magnolia Oil & Gas in the 2nd quarter worth approximately $26,000. GAMMA Investing LLC increased its position 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 buying an additional 1,042 shares in the last quarter. Finally, Fidelis Capital Partners LLC purchased a new position in Magnolia Oil & Gas during the first quarter valued at $50,000. Hedge funds and other institutional investors own 94.73% of the company’s stock.

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.