Fintel reports that on May 5, 2023, Truist Securities maintained coverage of Magnolia Oil & Gas Corp - (NYSE:MGY) with a Buy recommendation.
Analyst Price Forecast Suggests 55.31% Upside
As of April 24, 2023, the average one-year price target for Magnolia Oil & Gas Corp - is 29.38. The forecasts range from a low of 25.25 to a high of $37.80. The average price target represents an increase of 55.31% from its latest reported closing price of 18.92.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Magnolia Oil & Gas Corp - is 1,683MM, an increase of 3.57%. The projected annual non-GAAP EPS is 3.88.
Magnolia Oil & Gas Corp - Declares $0.12 Dividend
On May 1, 2023 the company declared a regular quarterly dividend of $0.12 per share ($0.46 annualized). Shareholders of record as of May 11, 2023 will receive the payment on June 1, 2023. Previously, the company paid $0.12 per share.
At the current share price of $18.92 / share, the stock's dividend yield is 2.43%.
Looking back five years and taking a sample every week, the average dividend yield has been 3.88%, the lowest has been 0.73%, and the highest has been 11.95%. The standard deviation of yields is 2.46 (n=237).
The current dividend yield is 0.59 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.11. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company has not increased its dividend in the last three years.
What is the Fund Sentiment?
There are 731 funds or institutions reporting positions in Magnolia Oil & Gas Corp -. This is an increase of 28 owner(s) or 3.98% in the last quarter. Average portfolio weight of all funds dedicated to MGY is 0.38%, an increase of 1.89%. Total shares owned by institutions decreased in the last three months by 1.48% to 243,814K shares. 
The put/call ratio of MGY is 0.96, indicating a bullish outlook.
What are Other Shareholders Doing?
T. Rowe Price Investment Management holds 15,721K shares representing 8.19% ownership of the company. In it's prior filing, the firm reported owning 15,665K shares, representing an increase of 0.35%. The firm increased its portfolio allocation in MGY by 14.10% over the last quarter.
Alliancebernstein holds 10,574K shares representing 5.51% ownership of the company. In it's prior filing, the firm reported owning 10,974K shares, representing a decrease of 3.79%. The firm increased its portfolio allocation in MGY by 6.02% over the last quarter.
EnerVest holds 8,296K shares representing 4.32% ownership of the company. In it's prior filing, the firm reported owning 10,912K shares, representing a decrease of 31.54%.
Wellington Management Group Llp holds 7,394K shares representing 3.85% ownership of the company. In it's prior filing, the firm reported owning 6,120K shares, representing an increase of 17.23%. The firm increased its portfolio allocation in MGY by 34.64% over the last quarter.
Janus Henderson Group holds 7,277K shares representing 3.79% ownership of the company. In it's prior filing, the firm reported owning 7,639K shares, representing a decrease of 4.97%. The firm increased its portfolio allocation in MGY by 7.52% over the last quarter.
Magnolia Oil & Gas Background Information
(This description is provided by the company.)
Magnolia is an oil and gas exploration and production company with operations primarily in South Texas in the core of the Eagle Ford Shale and Austin Chalk formations. Magnolia focuses on generating value for shareholders through steady production growth, strong pre-tax margins, and free cash flow.
See all Magnolia Oil & Gas Corp - regulatory filings.This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
