Magnolia Oil & Gas (NYSE:MGY) Stock Rating Reaffirmed by Piper Sandler

Piper Sandler reiterated their neutral rating on shares of Magnolia Oil & Gas (NYSE:MGY) in a research note released on Friday, MarketBeat reports. They currently have a $29.00 target price on the stock.

Other analysts have also issued research reports about the company. Bank of America began coverage on Magnolia Oil & Gas in a report on Tuesday, February 27th. They issued a buy rating and a $25.00 price target for the company. Wells Fargo & Company upped their target price on Magnolia Oil & Gas from $23.00 to $27.00 and gave the stock an equal weight rating in a report on Thursday. Mizuho upped their target price on Magnolia Oil & Gas from $24.00 to $26.00 and gave the stock a neutral rating in a report on Thursday, March 14th. The Goldman Sachs Group upped their target price on Magnolia Oil & Gas from $24.50 to $28.00 and gave the stock a buy rating in a report on Tuesday, March 26th. Finally, Truist Financial upped their target price on Magnolia Oil & Gas from $32.00 to $33.00 and gave the stock a buy rating in a report on Friday, February 16th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of Hold and an average target price of $27.14.

Magnolia Oil & Gas Stock Down 0.3 %

Shares of NYSE MGY opened at $25.62 on Friday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.88 and a current ratio of 1.88. The firm has a market capitalization of $5.23 billion, a price-to-earnings ratio of 12.50, a PEG ratio of 1.58 and a beta of 2.05. The stock has a 50 day moving average price of $24.07 and a 200 day moving average price of $22.36. Magnolia Oil & Gas has a 52-week low of $18.72 and a 52-week high of $27.33.

Magnolia Oil & Gas (NYSE:MGY) last announced its quarterly 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). The firm had revenue of $322.63 million during the quarter, compared to analysts’ expectations of $324.95 million. Magnolia Oil & Gas had a net margin of 31.65% and a return on equity of 21.21%. Sell-side analysts expect that Magnolia Oil & Gas will post 2.08 earnings per share for the current year.

Magnolia Oil & Gas Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 16th were issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 2.03%. The ex-dividend date of this dividend was Thursday, February 15th. This is a positive change from Magnolia Oil & Gas’s previous quarterly dividend of $0.12. Magnolia Oil & Gas’s dividend payout ratio is currently 25.37%.

Institutional Trading of Magnolia Oil & Gas

Several hedge funds and other institutional investors have recently made changes to their positions in MGY. Mather Group LLC. purchased a new stake in shares of Magnolia Oil & Gas during the 1st quarter valued at $27,000. Private Wealth Management Group LLC purchased a new stake in shares of Magnolia Oil & Gas during the 4th quarter valued at $33,000. VisionPoint Advisory Group LLC lifted its holdings in shares of Magnolia Oil & Gas by 112.3% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 1,537 shares of the company’s stock valued at $35,000 after purchasing an additional 813 shares during the last quarter. State of Wyoming increased its position in shares of Magnolia Oil & Gas by 38.8% in the 2nd quarter. State of Wyoming now owns 2,552 shares of the company’s stock valued at $53,000 after acquiring an additional 713 shares during the period. Finally, KBC Group NV acquired a new position in shares of Magnolia Oil & Gas in the 4th quarter valued at $57,000. Hedge funds and other 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.