Magnolia Oil & Gas Corp (NYSE:MGY – Get Free Report) has been assigned a consensus rating of “Hold” from the seventeen research firms that are covering the firm, MarketBeat Ratings reports. Ten analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $31.4167.
A number of analysts have commented on MGY shares. Weiss Ratings downgraded shares of Magnolia Oil & Gas from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, May 21st. The Goldman Sachs Group increased their price objective on shares of Magnolia Oil & Gas from $23.00 to $26.00 and gave the company a “neutral” rating in a report on Wednesday, February 11th. Truist Financial increased their price objective on shares of Magnolia Oil & Gas from $33.00 to $34.00 and gave the company a “hold” rating in a report on Monday, April 27th. UBS Group increased their price objective on shares of Magnolia Oil & Gas from $29.00 to $35.00 and gave the company a “buy” rating in a report on Thursday, March 5th. Finally, Mizuho increased their price objective on shares of Magnolia Oil & Gas from $33.00 to $35.00 and gave the company an “outperform” rating in a report on Wednesday.
Read Our Latest Stock Analysis on Magnolia Oil & Gas
Magnolia Oil & Gas Stock Down 1.5%
Magnolia Oil & Gas (NYSE:MGY – Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.03. Magnolia Oil & Gas had a net margin of 24.40% and a return on equity of 16.28%. The firm had revenue of $358.51 million during the quarter, compared to the consensus estimate of $349.89 million. During the same quarter in the prior year, the firm earned $0.54 EPS. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. Sell-side analysts expect that Magnolia Oil & Gas will post 2.85 earnings per share for the current fiscal year.
Magnolia Oil & Gas Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Tuesday, May 12th will be issued a $0.165 dividend. The ex-dividend date is Tuesday, May 12th. This represents a $0.66 dividend on an annualized basis and a yield of 2.4%. Magnolia Oil & Gas’s dividend payout ratio is presently 38.37%.
Insider Buying and Selling at Magnolia Oil & Gas
In other news, EVP Timothy D. Yang sold 150,000 shares of the firm’s stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $29.29, for a total transaction of $4,393,500.00. Following the completion of the sale, the executive vice president owned 526,661 shares in the company, valued at $15,425,900.69. This trade represents a 22.17% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Dan F. Smith sold 18,000 shares of the firm’s stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $29.01, for a total transaction of $522,180.00. Following the sale, the director owned 119,204 shares of the company’s stock, valued at $3,458,108.04. This represents a 13.12% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 338,954 shares of company stock worth $9,911,733. Insiders own 0.92% of the company’s stock.
Institutional Trading of Magnolia Oil & Gas
Hedge funds and other institutional investors have recently made changes to their positions in the company. Valued Wealth Advisors LLC acquired a new stake in shares of Magnolia Oil & Gas during the first quarter valued at about $29,000. Salomon & Ludwin LLC increased its position in shares of Magnolia Oil & Gas by 130.1% during the fourth quarter. Salomon & Ludwin LLC now owns 1,344 shares of the company’s stock valued at $29,000 after acquiring an additional 760 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Magnolia Oil & Gas by 165.5% during the second quarter. EverSource Wealth Advisors LLC now owns 1,386 shares of the company’s stock valued at $31,000 after acquiring an additional 864 shares during the last quarter. Torren Management LLC acquired a new stake in shares of Magnolia Oil & Gas during the fourth quarter valued at about $38,000. Finally, Parallel Advisors LLC boosted its position in shares of Magnolia Oil & Gas by 79.8% during the 4th quarter. Parallel Advisors LLC now owns 1,769 shares of the company’s stock worth $39,000 after purchasing an additional 785 shares during the period. Institutional investors and hedge funds own 94.73% of the company’s stock.
About Magnolia Oil & Gas
Magnolia Oil & Gas Corp (NYSE: MGY) is an independent exploration and production company focused on the acquisition, development and optimization of onshore oil and gas assets in South Texas. Headquartered in Houston, the company concentrates its efforts on the Eagle Ford Shale, where it holds significant working interests in key producing counties.
The company’s core operations center on horizontal drilling and multi-stage completions designed to extract light crude oil, natural gas and natural gas liquids (NGLs).
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