Brokerages Set Magnolia Oil & Gas Co. (NYSE:MGY) Target Price at $27.63

Shares of Magnolia Oil & Gas Co. (NYSE:MGY) have earned a consensus recommendation of “Hold” from the nine ratings firms that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $27.63.

Several research analysts have recently weighed in on the stock. The Goldman Sachs Group lifted their price target on shares of Magnolia Oil & Gas from $24.50 to $28.00 and gave the stock a “buy” rating in a research note on Tuesday, March 26th. Mizuho lifted their target price on Magnolia Oil & Gas from $24.00 to $26.00 and gave the company a “neutral” rating in a research report on Thursday, March 14th. Piper Sandler restated a “neutral” rating and issued a $29.00 price target on shares of Magnolia Oil & Gas in a research report on Friday, April 19th. Citigroup lifted 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, April 15th. Finally, Susquehanna upped their target price on shares of Magnolia Oil & Gas from $28.00 to $31.00 and gave the stock a “positive” rating in a report on Monday, April 22nd.

Hedge Funds Weigh In On Magnolia Oil & Gas

Hedge funds have recently bought and sold shares of the business. Sciencast Management LP bought a new position in Magnolia Oil & Gas in the 1st quarter worth about $270,000. Quantbot Technologies LP bought a new stake in Magnolia Oil & Gas during the 1st quarter valued at $762,000. Duality Advisers LP purchased a new stake in shares of Magnolia Oil & Gas during the 1st quarter worth $414,000. Texas Permanent School Fund Corp purchased a new position in Magnolia Oil & Gas in the first quarter valued at about $4,207,000. Finally, Mutual of America Capital Management LLC bought a new stake in shares of Magnolia Oil & Gas in the 1st quarter valued at about $828,000. Institutional investors own 94.73% of the company’s stock.

Magnolia Oil & Gas Stock Up 2.3 %

MGY stock opened at $25.68 on Friday. The business’s 50-day moving average is $25.12 and its two-hundred day moving average is $22.61. The company has a market cap of $5.24 billion, a price-to-earnings ratio of 12.52, a P/E/G ratio of 1.52 and a beta of 2.03. Magnolia Oil & Gas has a fifty-two week low of $18.91 and a fifty-two week high of $27.33. 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:MGY) last issued its quarterly earnings data on Wednesday, February 14th. The company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.04). The business had revenue of $322.63 million during the quarter, compared to the consensus estimate of $324.95 million. Magnolia Oil & Gas had a return on equity of 21.21% and a net margin of 31.65%. As a group, analysts forecast that Magnolia Oil & Gas will post 2.11 earnings per share for the current year.

Magnolia Oil & Gas Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Monday, May 13th will be paid a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 2.03%. The ex-dividend date of this dividend is Friday, May 10th. Magnolia Oil & Gas’s payout ratio is currently 25.37%.

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.