Magnolia Oil & Gas Co. (NYSE:MGY) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Magnolia Oil & Gas Co. (NYSE:MGY) have been assigned an average rating of “Hold” from the eleven brokerages that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $28.70.

Several analysts have recently commented on the company. Wells Fargo & Company reduced their price target on Magnolia Oil & Gas from $27.00 to $26.00 and set an “equal weight” rating for the company in a report on Monday, August 5th. Mizuho upped their price target on shares of Magnolia Oil & Gas from $26.00 to $28.00 and gave the stock a “neutral” rating in a research note on Monday, May 13th. Piper Sandler reduced their price objective on shares of Magnolia Oil & Gas from $29.00 to $26.00 and set a “neutral” rating for the company in a research note on Thursday. Capital One Financial assumed coverage on shares of Magnolia Oil & Gas in a research report on Tuesday, June 11th. They set an “overweight” rating and a $28.00 target price on the stock. Finally, Susquehanna lifted their price target on shares of Magnolia Oil & Gas from $31.00 to $33.00 and gave the company a “positive” rating in a research report on Monday, July 22nd.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Massmutual Trust Co. FSB ADV increased its stake in Magnolia Oil & Gas by 1,753.6% in the second quarter. Massmutual Trust Co. FSB ADV now owns 1,038 shares of the company’s stock valued at $26,000 after purchasing an additional 982 shares during the last quarter. Opal Wealth Advisors LLC acquired a new position in shares of Magnolia Oil & Gas during the 2nd quarter valued at about $26,000. Mather Group LLC. purchased a new position in shares of Magnolia Oil & Gas during the 1st quarter worth about $27,000. Private Wealth Management Group LLC acquired a new stake in shares of Magnolia Oil & Gas in the fourth quarter worth approximately $33,000. Finally, GAMMA Investing LLC grew its holdings in Magnolia Oil & Gas by 184.4% in the second quarter. GAMMA Investing LLC now owns 1,607 shares of the company’s stock valued at $41,000 after purchasing an additional 1,042 shares during the period. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Magnolia Oil & Gas Trading Down 0.3 %

NYSE MGY opened at $25.07 on Monday. Magnolia Oil & Gas has a 52-week low of $19.16 and a 52-week high of $27.63. The firm has a 50-day moving average price of $25.39 and a 200 day moving average price of $24.71. The stock has a market capitalization of $5.08 billion, a P/E ratio of 12.47, a P/E/G ratio of 0.89 and a beta of 2.02. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.21.

Magnolia Oil & Gas Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Friday, August 9th will be paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 2.07%. The ex-dividend date of this dividend is Friday, August 9th. Magnolia Oil & Gas’s payout ratio is 25.87%.

About Magnolia Oil & Gas

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.