Magnolia Oil & Gas (NYSE:MGY) Given New $27.00 Price Target at Wells Fargo & Company

Magnolia Oil & Gas (NYSE:MGY) had its price target lifted by Wells Fargo & Company from $23.00 to $27.00 in a report published on Thursday, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

Other analysts have also recently issued reports about the company. Citigroup boosted their price objective on Magnolia Oil & Gas from $18.00 to $22.00 and gave the company a sell rating in a research report on Monday. Piper Sandler dropped their price target on Magnolia Oil & Gas from $30.00 to $29.00 and set an overweight rating for the company in a research report on Wednesday, January 24th. Truist Financial boosted their price target on Magnolia Oil & Gas from $32.00 to $33.00 and gave the stock a buy rating in a research report on Friday, February 16th. Mizuho boosted their price target on Magnolia Oil & Gas from $24.00 to $26.00 and gave the stock a neutral rating in a research report on Thursday, March 14th. Finally, Bank of America assumed coverage on Magnolia Oil & Gas in a research report on Tuesday, February 27th. They set a buy rating and a $25.00 price target for the company. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of Hold and a consensus target price of $27.14.

Magnolia Oil & Gas Stock Down 0.6 %

Magnolia Oil & Gas stock opened at $25.68 on Thursday. The stock has a market capitalization of $5.24 billion, a PE ratio of 12.52, a price-to-earnings-growth ratio of 1.59 and a beta of 2.05. Magnolia Oil & Gas has a 12 month low of $18.72 and a 12 month high of $27.33. The business has a 50 day simple moving average of $23.96 and a 200-day simple moving average of $22.33. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.88 and a quick ratio of 1.88.

Magnolia Oil & Gas (NYSE:MGY) last posted its quarterly earnings data on Wednesday, February 14th. The company reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.04). The business 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%. On average, analysts anticipate that Magnolia Oil & Gas will post 2.08 EPS for the current fiscal year.

Magnolia Oil & Gas Increases Dividend

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

Hedge Funds Weigh In On Magnolia Oil & Gas

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Mather Group LLC. acquired a new position in shares of Magnolia Oil & Gas in the 1st quarter valued at $27,000. Private Wealth Management Group LLC acquired a new position in shares of Magnolia Oil & Gas in the 4th quarter valued at $33,000. VisionPoint Advisory Group LLC lifted its stake in shares of Magnolia Oil & Gas by 112.3% in 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 lifted its stake 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 purchasing an additional 713 shares during the last quarter. Finally, KBC Group NV acquired a new position in shares of Magnolia Oil & Gas in the 4th quarter valued at $57,000. Institutional investors and hedge funds 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.