Magnolia Oil & Gas Co. (NYSE:MGY) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Magnolia Oil & Gas Co. (NYSE:MGY) have received an average recommendation of “Hold” from the thirteen brokerages that are covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and six have issued a buy recommendation on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $27.67.

A number of research firms recently issued reports on MGY. Benchmark reiterated a “hold” rating on shares of Magnolia Oil & Gas in a research report on Tuesday, October 15th. Piper Sandler lowered their price objective on shares of Magnolia Oil & Gas from $29.00 to $26.00 and set a “neutral” rating for the company in a research report on Thursday, August 15th. JPMorgan Chase & Co. lowered their price objective on shares of Magnolia Oil & Gas from $26.00 to $23.00 and set a “neutral” rating for the company in a research report on Thursday, September 12th. Mizuho lowered their price objective on shares of Magnolia Oil & Gas from $28.00 to $27.00 and set a “neutral” rating for the company in a research report on Monday, September 16th. Finally, Truist Financial upped their price objective on shares of Magnolia Oil & Gas from $31.00 to $33.00 and gave the stock a “buy” rating in a research report on Friday, November 1st.

Magnolia Oil & Gas Price Performance

Shares of NYSE:MGY opened at $27.29 on Wednesday. The firm has a 50 day moving average of $25.77 and a 200-day moving average of $25.45. The stock has a market capitalization of $5.36 billion, a PE ratio of 13.51, a PEG ratio of 1.37 and a beta of 1.99. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.20. Magnolia Oil & Gas has a 12 month low of $19.16 and a 12 month high of $27.96.

Magnolia Oil & Gas (NYSE:MGY) last issued its earnings results on Wednesday, October 30th. The company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.48 by $0.04. The company had revenue of $333.14 million during the quarter, compared to analysts’ expectations of $331.45 million. Magnolia Oil & Gas had a net margin of 28.88% and a return on equity of 20.78%. On average, equities research analysts predict that Magnolia Oil & Gas will post 1.99 EPS for the current fiscal year.

Magnolia Oil & Gas Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date is Friday, November 8th. Magnolia Oil & Gas’s dividend payout ratio is currently 25.74%.

Insider Activity

In other news, Director Ltd. Enervest sold 7,000,000 shares of the company’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $25.86, for a total value of $181,020,000.00. Following the sale, the director now directly owns 2,099,403 shares of the company’s stock, valued at approximately $54,290,561.58. This represents a 76.93 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 1.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Coldstream Capital Management Inc. boosted its stake in Magnolia Oil & Gas by 5.1% during the third quarter. Coldstream Capital Management Inc. now owns 16,117 shares of the company’s stock worth $394,000 after acquiring an additional 783 shares in the last quarter. Geode Capital Management LLC boosted its stake in Magnolia Oil & Gas by 2.9% during the third quarter. Geode Capital Management LLC now owns 4,107,769 shares of the company’s stock worth $100,332,000 after acquiring an additional 116,431 shares in the last quarter. Barclays PLC boosted its stake in Magnolia Oil & Gas by 62.5% during the third quarter. Barclays PLC now owns 1,653,736 shares of the company’s stock worth $40,383,000 after acquiring an additional 636,049 shares in the last quarter. MML Investors Services LLC boosted its stake in Magnolia Oil & Gas by 13.0% during the third quarter. MML Investors Services LLC now owns 9,522 shares of the company’s stock worth $233,000 after acquiring an additional 1,096 shares in the last quarter. Finally, Orion Portfolio Solutions LLC boosted its stake in Magnolia Oil & Gas by 1.0% during the third quarter. Orion Portfolio Solutions LLC now owns 127,181 shares of the company’s stock worth $3,106,000 after acquiring an additional 1,220 shares in the last quarter. 94.73% of the stock is owned by institutional investors.

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.