Magnolia Oil & Gas Corp (NYSE:MGY – Get Free Report) has earned a consensus recommendation of “Hold” from the seventeen brokerages that are presently covering the firm, MarketBeat reports. Nine research analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $31.0833.
A number of brokerages have recently issued reports on MGY. UBS Group lowered their target price on shares of Magnolia Oil & Gas from $38.00 to $34.00 and set a “buy” rating on the stock in a research report on Friday, July 10th. Wells Fargo & Company reduced their price target on shares of Magnolia Oil & Gas from $32.00 to $31.00 and set an “equal weight” rating for the company in a research report on Wednesday, May 13th. Citigroup decreased their price target on shares of Magnolia Oil & Gas from $35.00 to $32.00 and set a “neutral” rating for the company in a research note on Monday, April 13th. Roth Capital raised shares of Magnolia Oil & Gas from a “neutral” rating to a “buy” rating and set a $31.00 price objective on the stock in a research report on Monday, June 22nd. Finally, KeyCorp restated an “overweight” rating on shares of Magnolia Oil & Gas in a research note on Monday, June 29th.
Hedge Funds Weigh In On Magnolia Oil & Gas
Magnolia Oil & Gas Stock Up 0.0%
Shares of NYSE MGY opened at $27.27 on Monday. The business has a 50-day moving average price of $27.36 and a 200 day moving average price of $27.34. The stock has a market cap of $5.04 billion, a PE ratio of 15.85 and a beta of 0.70. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.19. Magnolia Oil & Gas has a 52-week low of $21.07 and a 52-week high of $32.76.
Magnolia Oil & Gas (NYSE:MGY – Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.51 by $0.03. Magnolia Oil & Gas had a return on equity of 16.28% and a net margin of 24.40%.The company had revenue of $358.51 million for the quarter, compared to analyst estimates of $349.89 million. During the same quarter in the previous year, the company posted $0.54 earnings per share. The firm’s revenue was up 2.3% compared to the same quarter last year. Equities research analysts forecast that Magnolia Oil & Gas will post 2.67 earnings per share for the current year.
Magnolia Oil & Gas Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Tuesday, May 12th were paid a dividend of $0.165 per share. The ex-dividend date was Tuesday, May 12th. This represents a $0.66 annualized dividend and a dividend yield of 2.4%. Magnolia Oil & Gas’s dividend payout ratio is 38.37%.
Magnolia Oil & Gas Company Profile
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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