Magnolia Oil & Gas (NYSE:MGY) Price Target Raised to $36.00 at Piper Sandler

Magnolia Oil & Gas (NYSE:MGYGet Rating) had its price objective hoisted by Piper Sandler from $32.00 to $36.00 in a research report released on Thursday, The Fly reports. Piper Sandler currently has an overweight rating on the stock.

Other analysts also recently issued research reports about the stock. TheStreet upgraded shares of Magnolia Oil & Gas from a c rating to a b- rating in a report on Thursday, October 27th. KeyCorp raised their price objective on shares of Magnolia Oil & Gas from $28.00 to $30.00 and gave the stock an overweight rating in a report on Thursday, November 3rd. Finally, MKM Partners reiterated a buy rating and issued a $26.00 target price on shares of Magnolia Oil & Gas in a research note on Wednesday, July 20th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and an average target price of $30.38.

Magnolia Oil & Gas Stock Performance

NYSE MGY opened at $26.31 on Thursday. Magnolia Oil & Gas has a 52-week low of $17.23 and a 52-week high of $30.31. The company has a 50-day simple moving average of $23.66 and a 200 day simple moving average of $23.67. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.63 and a current ratio of 2.63. The company has a market capitalization of $5.69 billion, a PE ratio of 6.08 and a beta of 2.15.

Magnolia Oil & Gas (NYSE:MGYGet Rating) last posted its quarterly earnings data on Tuesday, November 1st. The company reported $1.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.18 by $0.11. Magnolia Oil & Gas had a net margin of 48.42% and a return on equity of 66.39%. The business had revenue of $482.96 million during the quarter, compared to the consensus estimate of $454.87 million. On average, research analysts predict that Magnolia Oil & Gas will post 4.7 EPS for the current year.

Magnolia Oil & Gas Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Monday, November 7th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, November 4th. This represents a $0.40 annualized dividend and a yield of 1.52%. Magnolia Oil & Gas’s dividend payout ratio is currently 9.24%.

Hedge Funds Weigh In On Magnolia Oil & Gas

Hedge funds have recently bought and sold shares of the company. Ten Capital Wealth Advisors LLC purchased a new position in Magnolia Oil & Gas during the second quarter valued at approximately $28,000. CWM LLC grew its stake in Magnolia Oil & Gas by 60.6% during the third quarter. CWM LLC now owns 1,635 shares of the company’s stock valued at $32,000 after acquiring an additional 617 shares in the last quarter. NN Investment Partners Holdings N.V. purchased a new position in Magnolia Oil & Gas during the first quarter valued at approximately $54,000. Exchange Traded Concepts LLC purchased a new position in Magnolia Oil & Gas during the third quarter valued at approximately $56,000. Finally, Assetmark Inc. grew its stake in Magnolia Oil & Gas by 311.4% during the second quarter. Assetmark Inc. now owns 2,880 shares of the company’s stock valued at $60,000 after acquiring an additional 2,180 shares in the last quarter. Hedge funds and other institutional investors own 84.09% of the company’s stock.

Magnolia Oil & Gas Company Profile

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Magnolia Oil & Gas Corporation 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 Field in South Texas principally comprising the Eagle Ford Shale and the Austin Chalk formation.

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