Magnolia Oil & Gas Corporation (NYSE:MGY) shares traded 1.85% higher at $21.49 on Wall Street last session.
In accordance with the data, 15 analysts cover Magnolia Oil & Gas Corporation (NYSE:MGY). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $30.00 and a low of $21.00, we find $26.50. Given the previous closing price of $21.10, this indicates a potential upside of 25.59 percent. MGY stock price is now 5.71% away from the 50-day moving average and -3.79% away from the 200-day moving average. The market capitalization of the company currently stands at $4.55B.
It has been rated a hold by 5 analysts and a buy by 10. Brokers who have rated the stock have averaged $25.79 as their price target over the next twelve months.
With the price target of $32, Mizuho recently initiated with Buy rating for Magnolia Oil & Gas Corporation (NYSE: MGY).
In other news, Walker John B, Director sold 7,500,000 shares of the company’s stock on Nov 08. The stock was sold for $181,950,000 at an average price of $24.26. Upon completion of the transaction, the Director now directly owns 8,296,077 shares in the company, valued at $178.28 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Nov 08, Director EnerVest, Ltd. sold 7,500,000 shares of the business’s stock. A total of $181,950,000 was realized by selling the stock at an average price of $24.26. This leaves the insider owning 8,296,077 shares of the company worth $178.28 million. Insiders disposed of 167,110 shares of company stock worth roughly $3.59 million over the past 1 year. A total of 0.50% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in MGY stock. A new stake in Magnolia Oil & Gas Corporation shares was purchased by SIR CAPITAL MANAGEMENT, L.P. during the first quarter worth $19,941,000. GREAT LAKES ADVISORS, LLC invested $10,763,000 in shares of MGY during the first quarter. In the first quarter, POINT72 ASSET MANAGEMENT, L.P. acquired a new stake in Magnolia Oil & Gas Corporation valued at approximately $5,550,000. FOSTER VICTOR WEALTH ADVISORS, LLC acquired a new stake in MGY for approximately $3,643,000. JUPITER ASSET MANAGEMENT LTD purchased a new stake in MGY valued at around $3,081,000 in the second quarter. In total, there are 419 active investors with 104.43% ownership of the company’s stock.
Magnolia Oil & Gas Corporation (NYSE: MGY) opened at $21.23 on Monday. During the past 12 months, Magnolia Oil & Gas Corporation has had a low of $18.17 and a high of $27.57. As of last week, the company has a debt-to-equity ratio of 0.24, a current ratio of 2.60, and a quick ratio of 2.60. The fifty day moving average price for MGY is $20.37 and a two-hundred day moving average price translates $22.33 for the stock.
The latest earnings results from Magnolia Oil & Gas Corporation (NYSE: MGY) was released for Mar, 2023. According to the Oil & Gas E&P Company, earnings per share came in at $0.5, missing analysts’ expectations of $0.54 by -0.04. This compares to $1.14 EPS in the same period last year. The net profit margin was 50.70% and return on equity was 59.50% for MGY. The company reported revenue of $308.38 million for the quarter, compared to $377.84 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -18.38 percent. For the current quarter, analysts expect MGY to generate $307.31M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 06/01/2023. Investors who held shares on 05/11/2023 were paid a $0.115 dividend. On an annualized basis, this represents a $0.46 dividend and a 2.14% percent yield. There was an ex-dividend date of 05/10/2023 for this dividend. In terms of dividend payout ratio, MGY is presently at 9.90%.
Magnolia Oil & Gas Corporation(MGY) Company Profile
Magnolia Oil & Gas Corporation 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. The company was incorporated in 2017 and is headquartered in Houston, Texas.
