Magnolia Oil & Gas Corp (NYSE:MGY) Given Consensus Recommendation of "Hold" by Brokerages

Magnolia Oil & Gas Corp (NYSE:MGY - Get Free Report) has been given a consensus rating of "Hold" by the fourteen brokerages that are covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $26.4167.

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MGY has been the topic of a number of recent research reports. William Blair began coverage on Magnolia Oil & Gas in a research note on Monday, August 25th. They issued an "outperform" rating on the stock. KeyCorp set a $29.00 price objective on shares of Magnolia Oil & Gas and gave the stock an "overweight" rating in a research note on Wednesday, October 15th. Mizuho lifted their target price on shares of Magnolia Oil & Gas from $25.00 to $26.00 and gave the company a "neutral" rating in a report on Thursday, October 30th. Weiss Ratings reiterated a "hold (c)" rating on shares of Magnolia Oil & Gas in a research note on Wednesday, October 8th. Finally, Piper Sandler raised their price target on shares of Magnolia Oil & Gas from $24.00 to $25.00 and gave the company a "neutral" rating in a research report on Thursday, July 17th.

View Our Latest Stock Report on MGY

Magnolia Oil & Gas Trading Down 2.7%

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NYSE:MGY opened at $21.92 on Wednesday. The stock has a market capitalization of $4.18 billion, a price-to-earnings ratio of 12.25, a PEG ratio of 3.02 and a beta of 1.18. Magnolia Oil & Gas has a 52 week low of $19.09 and a 52 week high of $29.02. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.20. The firm has a 50 day moving average of $23.74 and a 200 day moving average of $23.18.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last issued its quarterly earnings results on Wednesday, October 29th. The company reported $0.41 earnings per share for the quarter, hitting analysts' consensus estimates of $0.41. Magnolia Oil & Gas had a return on equity of 18.10% and a net margin of 25.90%.The business had revenue of $324.94 million for the quarter, compared to analyst estimates of $322.52 million. During the same quarter in the previous year, the firm earned $0.52 earnings per share. The company's revenue was down 2.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Magnolia Oil & Gas will post 2.1 earnings per share for the current fiscal year.

Magnolia Oil & Gas Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Monday, November 10th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 2.7%. The ex-dividend date is Monday, November 10th. Magnolia Oil & Gas's dividend payout ratio is 33.52%.

Hedge Funds Weigh In On Magnolia Oil & Gas

Hedge funds and other institutional investors have recently modified their holdings of the business. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Magnolia Oil & Gas by 236.2% during the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,190 shares of the company's stock worth $27,000 after acquiring an additional 836 shares during the period. Mather Group LLC. purchased a new position in Magnolia Oil & Gas during the third quarter worth about $31,000. Caitong International Asset Management Co. Ltd acquired a new position in Magnolia Oil & Gas in the 2nd quarter valued at about $30,000. EverSource Wealth Advisors LLC boosted its holdings in Magnolia Oil & Gas by 165.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,386 shares of the company's stock valued at $31,000 after purchasing an additional 864 shares during the last quarter. Finally, Geneos Wealth Management Inc. grew its stake in shares of Magnolia Oil & Gas by 90.5% in the 2nd quarter. Geneos Wealth Management Inc. now owns 2,212 shares of the company's stock valued at $50,000 after buying an additional 1,051 shares during the period. 94.73% of the stock is owned by hedge funds and other institutional investors.

Magnolia Oil & Gas Company Profile

Magnolia Oil & Gas Corp. engages in the acquisition, development, exploration, and production of oil and natural gas properties. It operates assets located in the Eagle Ford Shale and Austin Chalk formations in South Texas. The company was founded on February 14, 2017 and is headquartered in Houston, TX.

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