Shares of Magnolia Oil & Gas Co. (NYSE:MGY – Get Rating) have earned a consensus recommendation of “Moderate Buy” from the eleven ratings firms that are currently covering the firm, Marketbeat.com reports. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $28.56.
A number of equities analysts recently commented on the stock. KeyCorp assumed coverage on shares of Magnolia Oil & Gas in a research report on Monday, September 19th. They issued an “overweight” rating and a $28.00 target price on the stock. Truist Financial lifted their target price on shares of Magnolia Oil & Gas from $35.00 to $39.00 and gave the stock a “buy” rating in a research report on Tuesday, July 19th. MKM Partners restated a “buy” rating and issued a $26.00 price objective on shares of Magnolia Oil & Gas in a research report on Wednesday, July 20th. Finally, Wells Fargo & Company boosted their price objective on shares of Magnolia Oil & Gas from $29.00 to $30.00 and gave the company an “equal weight” rating in a research report on Monday, July 11th.
Hedge Funds Weigh In On Magnolia Oil & Gas
Hedge funds and other institutional investors have recently modified their holdings of the stock. Ten Capital Wealth Advisors LLC purchased a new position in shares of Magnolia Oil & Gas during the second quarter valued at about $28,000. NN Investment Partners Holdings N.V. purchased a new position in shares of Magnolia Oil & Gas during the first quarter valued at about $54,000. Newbridge Financial Services Group Inc. increased its position in shares of Magnolia Oil & Gas by 1,748.0% during the first quarter. Newbridge Financial Services Group Inc. now owns 2,310 shares of the company’s stock valued at $55,000 after buying an additional 2,185 shares during the period. Counterpoint Mutual Funds LLC purchased a new position in shares of Magnolia Oil & Gas during the first quarter valued at about $64,000. Finally, Assetmark Inc. boosted 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 worth $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 Price Performance
Shares of NYSE:MGY opened at $19.69 on Friday. The stock has a market cap of $4.28 billion, a PE ratio of 5.31 and a beta of 2.10. The company’s fifty day moving average is $22.71 and its 200 day moving average is $23.63. Magnolia Oil & Gas has a 52 week low of $17.17 and a 52 week high of $30.31. The company has a quick ratio of 2.25, a current ratio of 2.25 and a debt-to-equity ratio of 0.31.
Magnolia Oil & Gas (NYSE:MGY – Get Rating) last issued its earnings results on Tuesday, August 2nd. The company reported $1.10 EPS for the quarter, missing analysts’ consensus estimates of $1.18 by ($0.08). The business had revenue of $484.65 million during the quarter, compared to analysts’ expectations of $459.13 million. Magnolia Oil & Gas had a return on equity of 63.23% and a net margin of 46.42%. Research analysts anticipate that Magnolia Oil & Gas will post 4.86 earnings per share for the current year.
Magnolia Oil & Gas Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, September 1st. Investors of record on Friday, August 12th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 2.03%. The ex-dividend date of this dividend was Thursday, August 11th. Magnolia Oil & Gas’s dividend payout ratio is currently 5.39%.
Magnolia Oil & Gas Company Profile
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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Source: marketbeat.com
