Magnolia Oil & Gas’ (MGY) “Neutral” Rating Reiterated at Bank of America

Bank of America restated their neutral rating on shares of Magnolia Oil & Gas (NYSE:MGY) in a research report released on Monday morning, Marketbeat Ratings reports. The firm currently has a $28.00 target price on the stock, down from their previous target price of $29.00.

MGY has been the topic of a number of other research reports. Benchmark reaffirmed a “hold” rating on shares of Magnolia Oil & Gas in a research note on Tuesday, October 15th. Wells Fargo & Company lowered shares of Magnolia Oil & Gas from an “equal weight” rating to an “underweight” rating and dropped their price target for the company from $26.00 to $22.00 in a research report on Tuesday, October 1st. Mizuho upped their price objective on shares of Magnolia Oil & Gas from $27.00 to $28.00 and gave the stock a “neutral” rating in a research report on Monday, December 16th. Truist Financial raised their target price on Magnolia Oil & Gas from $31.00 to $33.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Finally, Siebert Williams Shank cut Magnolia Oil & Gas from a “buy” rating to a “hold” rating and set a $30.00 price target for the company. in a report on Tuesday, October 15th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Magnolia Oil & Gas presently has a consensus rating of “Hold” and a consensus price target of $27.58.

Magnolia Oil & Gas Price Performance

NYSE:MGY opened at $26.53 on Monday. The firm’s fifty day moving average is $25.63 and its two-hundred day moving average is $25.51. The firm has a market cap of $5.21 billion, a price-to-earnings ratio of 13.13, a PEG ratio of 1.29 and a beta of 2.00. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.47 and a current ratio of 1.47. Magnolia Oil & Gas has a one year low of $19.16 and a one year high of $29.02.

Magnolia Oil & Gas (NYSE:MGY) last issued its earnings results on Wednesday, October 30th. The company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.04. The firm had revenue of $333.14 million for the quarter, compared to the consensus estimate of $331.45 million. Magnolia Oil & Gas had a return on equity of 20.78% and a net margin of 28.88%. Research analysts expect that Magnolia Oil & Gas will post 2 EPS for the current year.

Magnolia Oil & Gas Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Friday, November 8th were given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date of this dividend was Friday, November 8th. Magnolia Oil & Gas’s payout ratio is 25.74%.

Institutional Investors Weigh In On Magnolia Oil & Gas

Institutional investors have recently made changes to their positions in the stock. First Horizon Advisors Inc. boosted its position in shares of Magnolia Oil & Gas by 64.7% during the 3rd quarter. First Horizon Advisors Inc. now owns 1,008 shares of the company’s stock worth $25,000 after purchasing an additional 396 shares during the period. Albert D Mason Inc. boosted its position in shares of Magnolia Oil & Gas by 0.7% during the fourth quarter. Albert D Mason Inc. now owns 61,497 shares of the company’s stock worth $1,438,000 after buying an additional 411 shares during the period. Jennison Associates LLC grew its stake in shares of Magnolia Oil & Gas by 2.2% in the third quarter. Jennison Associates LLC now owns 23,836 shares of the company’s stock valued at $582,000 after buying an additional 506 shares in the last quarter. Atria Investments Inc raised its holdings in shares of Magnolia Oil & Gas by 2.3% in the 3rd quarter. Atria Investments Inc now owns 23,576 shares of the company’s stock valued at $576,000 after buying an additional 523 shares during the period. Finally, PNC Financial Services Group Inc. lifted its stake in Magnolia Oil & Gas by 1.0% during the 3rd quarter. PNC Financial Services Group Inc. now owns 52,834 shares of the company’s stock worth $1,290,000 after acquiring an additional 548 shares in the last quarter. 94.73% of the stock is currently owned by institutional investors and hedge funds.

Magnolia Oil & Gas Company Profile

Magnolia Oil & Gas Corporation, an independent oil and natural gas company, engages in the acquisition, development, exploration, and production of oil, natural gas, and natural gas liquids reserves in the United States. Its properties are located primarily in Karnes County and the Giddings area in South Texas principally comprising the Eagle Ford Shale and the Austin Chalk formation.