Magnolia Oil & Gas (NYSE:MGY) PT Raised to $22.00

Magnolia Oil & Gas (NYSE:MGY) had its target price lifted by Citigroup from $18.00 to $22.00 in a research report sent to investors on Monday morning, Benzinga reports. Citigroup currently has a sell rating on the stock.

Several other research firms also recently issued reports on MGY. Piper Sandler dropped their price target on shares of Magnolia Oil & Gas from $30.00 to $29.00 and set an overweight rating for the company in a research note on Wednesday, January 24th. Bank of America started coverage on shares of Magnolia Oil & Gas in a research note on Tuesday, February 27th. They set a buy rating and a $25.00 price target for the company. The Goldman Sachs Group raised their price target on shares of Magnolia Oil & Gas from $24.50 to $28.00 and gave the company a buy rating in a research note on Tuesday, March 26th. Wells Fargo & Company lowered their target price on shares of Magnolia Oil & Gas from $23.00 to $21.00 and set an equal weight rating for the company in a research note on Friday, January 19th. Finally, Truist Financial lifted their target price on shares of Magnolia Oil & Gas from $32.00 to $33.00 and gave the stock a buy rating in a research note on Friday, February 16th. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of Hold and an average target price of $26.29.

Magnolia Oil & Gas Stock Performance

Shares of Magnolia Oil & Gas stock opened at $25.82 on Monday. The company’s 50 day moving average price is $23.96 and its two-hundred day moving average price is $22.33. The firm has a market capitalization of $5.27 billion, a P/E ratio of 12.59, a P/E/G ratio of 1.61 and a beta of 2.05. Magnolia Oil & Gas has a fifty-two week low of $18.72 and a fifty-two week high of $27.33. 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 released its quarterly earnings results on Wednesday, February 14th. The company reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.04). The business had revenue of $322.63 million for the quarter, compared to the consensus estimate of $324.95 million. Magnolia Oil & Gas had a net margin of 31.65% and a return on equity of 21.21%. On average, equities analysts forecast that Magnolia Oil & Gas will post 2.08 earnings per share for the current fiscal year.

Magnolia Oil & Gas Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 16th were paid a $0.13 dividend. This is an increase from Magnolia Oil & Gas’s previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a yield of 2.01%. The ex-dividend date of this dividend was Thursday, February 15th. Magnolia Oil & Gas’s payout ratio is 25.37%.

Institutional Investors Weigh In On Magnolia Oil & Gas

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Mather Group LLC. bought a new stake in Magnolia Oil & Gas in the first quarter valued at $27,000. Private Wealth Management Group LLC bought a new stake in Magnolia Oil & Gas in the fourth quarter valued at $33,000. VisionPoint Advisory Group LLC increased its stake in Magnolia Oil & Gas by 112.3% in the third 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 in the last quarter. State of Wyoming increased its stake in Magnolia Oil & Gas by 38.8% in the second quarter. State of Wyoming now owns 2,552 shares of the company’s stock valued at $53,000 after purchasing an additional 713 shares in the last quarter. Finally, KBC Group NV bought a new stake in Magnolia Oil & Gas in the fourth quarter valued at $57,000. 94.73% of the stock is owned by institutional investors.

Magnolia Oil & Gas Company Profile

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.