Piper Sandler Has Lowered Expectations for Magnolia Oil & Gas (NYSE:MGY) Stock Price

Magnolia Oil & Gas (NYSE:MGY) had its price target cut by Piper Sandler from $25.00 to $24.00 in a research note published on Tuesday,Benzinga reports. They currently have a neutral rating on the stock.

MGY has been the subject of a number of other research reports. Williams Trading set a $29.00 price objective on Magnolia Oil & Gas in a report on Wednesday, March 5th. The Goldman Sachs Group downgraded shares of Magnolia Oil & Gas from a “buy” rating to a “neutral” rating and cut their price objective for the company from $27.00 to $26.00 in a report on Friday, January 31st. Johnson Rice downgraded shares of Magnolia Oil & Gas from a “moderate buy” rating to a “hold” rating in a report on Tuesday, January 28th. Citigroup cut their price objective on shares of Magnolia Oil & Gas from $22.00 to $19.00 and set a “sell” rating for the company in a report on Tuesday, April 8th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Magnolia Oil & Gas from $28.00 to $24.00 and set a “neutral” rating for the company in a report on Thursday, March 13th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $27.14.

Magnolia Oil & Gas Stock Up 1.3%

Magnolia Oil & Gas stock opened at $23.31 on Tuesday. The firm has a market capitalization of $4.53 billion, a PE ratio of 12.08, a P/E/G ratio of 3.01 and a beta of 1.25. The company’s 50-day moving average is $22.39 and its 200-day moving average is $24.14. Magnolia Oil & Gas has a fifty-two week low of $19.09 and a fifty-two week high of $29.02. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.42 and a quick ratio of 1.47.

Magnolia Oil & Gas (NYSE:MGY) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.02. Magnolia Oil & Gas had a return on equity of 20.74% and a net margin of 27.82%. The company had revenue of $350.30 million during the quarter, compared to analysts’ expectations of $337.83 million. During the same quarter in the previous year, the company posted $0.46 earnings per share. The business’s revenue was up 9.7% on a year-over-year basis. Sell-side analysts anticipate that Magnolia Oil & Gas will post 2.1 earnings per share for the current year.

Magnolia Oil & Gas Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Monday, May 12th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 2.57%. The ex-dividend date of this dividend is Monday, May 12th. Magnolia Oil & Gas’s payout ratio is 29.85%.

Insider Activity at Magnolia Oil & Gas

In related news, CEO Christopher G. Stavros acquired 2,500 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was acquired at an average price of $22.05 per share, with a total value of $55,125.00. Following the purchase, the chief executive officer now directly owns 892,372 shares in the company, valued at approximately $19,676,802.60. This trade represents a 0.28% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Magnolia Oil & Gas

Several institutional investors and hedge funds have recently added to or reduced their stakes in MGY. Mather Group LLC. lifted its stake in Magnolia Oil & Gas by 100.0% in the 4th quarter. Mather Group LLC. now owns 1,090 shares of the company’s stock valued at $25,000 after purchasing an additional 545 shares during the last quarter. Larson Financial Group LLC lifted its stake in Magnolia Oil & Gas by 112.3% in the 4th quarter. Larson Financial Group LLC now owns 1,072 shares of the company’s stock valued at $25,000 after purchasing an additional 567 shares during the last quarter. Opal Wealth Advisors LLC bought a new position in Magnolia Oil & Gas in the 1st quarter valued at approximately $30,000. R Squared Ltd bought a new position in Magnolia Oil & Gas in the 4th quarter valued at approximately $43,000. Finally, Quarry LP lifted its stake in Magnolia Oil & Gas by 1,047.8% in the 4th quarter. Quarry LP now owns 2,135 shares of the company’s stock valued at $50,000 after purchasing an additional 1,949 shares during the last quarter. Institutional investors own 94.73% of the company’s stock.

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.