Wall Street Zen upgraded shares of Magnolia Oil & Gas (NYSE:MGY – Free Report) from a hold rating to a buy rating in a research note issued to investors on Saturday.
Other research analysts also recently issued research reports about the stock. Mizuho upgraded shares of Magnolia Oil & Gas to a “strong-buy” rating in a research note on Friday, July 31st. Weiss Ratings lowered shares of Magnolia Oil & Gas from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, May 21st. Zacks Research cut shares of Magnolia Oil & Gas from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 19th. Citigroup lowered their target price 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. Finally, KeyCorp reissued an “overweight” rating on shares of Magnolia Oil & Gas in a report on Monday, June 29th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $31.50.
Get Our Latest Stock Analysis on Magnolia Oil & Gas
Magnolia Oil & Gas Price Performance
Magnolia Oil & Gas (NYSE:MGY – Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.99 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.06. Magnolia Oil & Gas had a return on equity of 21.04% and a net margin of 28.77%.The business had revenue of $478.81 million during the quarter, compared to the consensus estimate of $458.10 million. During the same period in the previous year, the company posted $0.41 earnings per share. The business’s revenue for the quarter was up 50.1% on a year-over-year basis. Analysts anticipate that Magnolia Oil & Gas will post 2.81 earnings per share for the current fiscal year.
Magnolia Oil & Gas Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Monday, August 10th will be paid a $0.18 dividend. This is an increase from Magnolia Oil & Gas’s previous quarterly dividend of $0.17. This represents a $0.72 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date is Monday, August 10th. Magnolia Oil & Gas’s dividend payout ratio (DPR) is presently 31.58%.
Institutional Trading of Magnolia Oil & Gas
A number of large investors have recently bought and sold shares of the business. Salomon & Ludwin LLC increased its stake in Magnolia Oil & Gas by 130.1% in the fourth quarter. Salomon & Ludwin LLC now owns 1,344 shares of the company’s stock valued at $29,000 after purchasing an additional 760 shares during the period. Valued Wealth Advisors LLC purchased a new stake in shares of Magnolia Oil & Gas in the first quarter valued at about $29,000. EverSource Wealth Advisors LLC boosted its stake 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 worth $31,000 after buying an additional 864 shares during the period. Torren Management LLC purchased a new position in shares of Magnolia Oil & Gas during the fourth quarter worth about $38,000. Finally, Harbor Investment Advisory LLC purchased a new position in shares of Magnolia Oil & Gas during the second quarter worth about $39,000. Institutional investors and hedge funds own 94.73% of the company’s stock.
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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