Magnolia Oil & Gas Co. (NYSE:MGY) Receives Consensus Recommendation of “Hold” from Brokerages

Magnolia Oil & Gas Co. (NYSE:MGY) has earned a consensus rating of “Hold” from the thirteen research firms that are currently covering the stock, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $27.67.

MGY has been the topic of a number of research analyst reports. Truist Financial raised their price target on Magnolia Oil & Gas from $31.00 to $33.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Wells Fargo & Company downgraded shares of Magnolia Oil & Gas from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $26.00 to $22.00 in a report on Tuesday, October 1st. Benchmark reaffirmed a “hold” rating on shares of Magnolia Oil & Gas in a research note on Tuesday, October 15th. JPMorgan Chase & Co. lowered their price objective on shares of 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. Finally, Siebert Williams Shank lowered 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.

Insiders Place Their Bets

In related news, Director Ltd. Enervest sold 7,000,000 shares of Magnolia Oil & Gas stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $25.86, for a total transaction of $181,020,000.00. Following the sale, the director now owns 2,099,403 shares of the company’s stock, valued at $54,290,561.58. The trade was a 76.93 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.20% of the stock is owned by company insiders.

Institutional Trading of Magnolia Oil & Gas

Several large investors have recently modified their holdings of MGY. Vanguard Group Inc. boosted its holdings in Magnolia Oil & Gas by 16.6% in the first quarter. Vanguard Group Inc. now owns 20,757,369 shares of the company’s stock valued at $538,654,000 after purchasing an additional 2,956,314 shares during the last quarter. Oliver Luxxe Assets LLC grew its position in shares of Magnolia Oil & Gas by 80.6% during the third quarter. Oliver Luxxe Assets LLC now owns 87,624 shares of the company’s stock worth $2,140,000 after buying an additional 39,098 shares in the last quarter. Argent Capital Management LLC increased its stake in shares of Magnolia Oil & Gas by 56.8% in the second quarter. Argent Capital Management LLC now owns 29,111 shares of the company’s stock worth $738,000 after buying an additional 10,547 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its stake in shares of Magnolia Oil & Gas by 740.3% in the first quarter. CANADA LIFE ASSURANCE Co now owns 157,757 shares of the company’s stock worth $4,092,000 after buying an additional 138,982 shares during the last quarter. Finally, Comerica Bank raised its holdings in Magnolia Oil & Gas by 38.8% in the first quarter. Comerica Bank now owns 172,569 shares of the company’s stock valued at $4,478,000 after acquiring an additional 48,228 shares in the last quarter. 94.73% of the stock is currently owned by institutional investors and hedge funds.

Magnolia Oil & Gas Stock Performance

Shares of NYSE MGY opened at $27.95 on Wednesday. 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 company has a market cap of $5.49 billion, a PE ratio of 13.84, a price-to-earnings-growth ratio of 1.46 and a beta of 1.99. The company has a 50-day simple moving average of $26.22 and a 200-day simple moving average of $25.53. Magnolia Oil & Gas has a 12 month low of $19.16 and a 12 month high of $29.02.

Magnolia Oil & Gas (NYSE:MGY) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.04. Magnolia Oil & Gas had a return on equity of 20.78% and a net margin of 28.88%. The company had revenue of $333.14 million during the quarter, compared to the consensus estimate of $331.45 million. On average, equities analysts anticipate that Magnolia Oil & Gas will post 1.99 earnings per share for the current year.

Magnolia Oil & Gas Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 8th will be issued a dividend of $0.13 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.52 annualized dividend and a dividend yield of 1.86%. Magnolia Oil & Gas’s payout ratio is currently 25.74%.

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.