Magnolia Oil & Gas (NYSE:MGY) Given New $28.00 Price Target at The Goldman Sachs Group

Magnolia Oil & Gas (NYSE:MGYFree Report) had its price objective hoisted by The Goldman Sachs Group from $24.50 to $28.00 in a research note released on Tuesday morning, Benzinga reports. The Goldman Sachs Group currently has a buy rating on the stock.

Other equities analysts have also issued reports about the company. Wells Fargo & Company reduced their target price on Magnolia Oil & Gas from $23.00 to $21.00 and set an equal weight rating for the company in a report on Friday, January 19th. Citigroup lowered Magnolia Oil & Gas from a neutral rating to a sell rating and reduced their price objective for the company from $24.00 to $18.00 in a report on Monday, December 11th. Truist Financial raised their price target on Magnolia Oil & Gas from $32.00 to $33.00 and gave the stock a buy rating in a report on Friday, February 16th. Piper Sandler cut their price target on Magnolia Oil & Gas from $30.00 to $29.00 and set an overweight rating for the company in a report on Wednesday, January 24th. Finally, Mizuho raised their price target on Magnolia Oil & Gas from $24.00 to $26.00 and gave the stock a neutral rating in a report on Thursday, March 14th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus price target of $25.71.

View Our Latest Report on MGY

Magnolia Oil & Gas Stock Performance

Shares of MGY opened at $25.04 on Tuesday. The firm has a market capitalization of $5.12 billion, a P/E ratio of 12.21, a P/E/G ratio of 1.58 and a beta of 2.03. Magnolia Oil & Gas has a 52 week low of $18.72 and a 52 week high of $25.40. The stock has a 50 day moving average price of $22.01 and a two-hundred day moving average price of $21.94. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.88 and a current ratio of 1.88.

Magnolia Oil & Gas (NYSE:MGYGet Free Report) last issued its quarterly earnings data on Wednesday, February 14th. The company reported $0.50 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.04). The company had revenue of $322.63 million during the quarter, compared to analysts’ expectations of $324.95 million. Magnolia Oil & Gas had a return on equity of 21.21% and a net margin of 31.65%. Equities analysts forecast that Magnolia Oil & Gas will post 2 earnings per share for the current fiscal year.

Magnolia Oil & Gas Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 16th were given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date of this dividend was Thursday, February 15th. This is an increase from Magnolia Oil & Gas’s previous quarterly dividend of $0.12. Magnolia Oil & Gas’s dividend payout ratio (DPR) is 25.37%.

Institutional Investors Weigh In On Magnolia Oil & Gas

Institutional investors and hedge funds have recently made changes to their positions in the business. Private Wealth Management Group LLC purchased a new stake in Magnolia Oil & Gas during the fourth quarter valued at about $33,000. VisionPoint Advisory Group LLC grew its stake in shares of Magnolia Oil & Gas by 112.3% in the third quarter. VisionPoint Advisory Group LLC now owns 1,537 shares of the company’s stock worth $35,000 after purchasing an additional 813 shares during the last quarter. State of Wyoming boosted its position in Magnolia Oil & Gas by 38.8% during 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 in the last quarter. KBC Group NV bought a new stake in Magnolia Oil & Gas during the 4th quarter valued at approximately $57,000. Finally, Captrust Financial Advisors lifted its holdings in shares of Magnolia Oil & Gas by 42.4% during the first quarter. Captrust Financial Advisors now owns 3,608 shares of the company’s stock valued at $85,000 after purchasing an additional 1,075 shares during the last quarter. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Magnolia Oil & Gas Company Profile

(Get Free Report)

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.

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