Magnolia Oil & Gas (NYSE:MGY) Price Target Lowered to $26.00 at Piper Sandler

Magnolia Oil & Gas (NYSE:MGY) had its price target decreased by Piper Sandler from $29.00 to $26.00 in a report published on Thursday, Benzinga reports. Piper Sandler currently has a neutral rating on the stock.

Several other brokerages also recently weighed in on MGY. Susquehanna upped their price target on Magnolia Oil & Gas from $31.00 to $33.00 and gave the stock a positive rating in a report on Monday, July 22nd. Mizuho upped their target price 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. Capital One Financial initiated coverage on shares of Magnolia Oil & Gas in a research note on Tuesday, June 11th. They issued an overweight rating and a $28.00 price target for the company. Truist Financial increased their price objective on shares of Magnolia Oil & Gas from $34.00 to $35.00 and gave the company a buy rating in a research report on Friday, August 2nd. Finally, Wells Fargo & Company reduced their price objective on shares of Magnolia Oil & Gas from $27.00 to $26.00 and set an equal weight rating on the stock in a report on Monday, August 5th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of Hold and an average target price of $28.70.

Magnolia Oil & Gas Stock Down 0.3 %

Magnolia Oil & Gas stock opened at $25.07 on Thursday. The firm 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 current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.21. Magnolia Oil & Gas has a twelve month low of $19.16 and a twelve month high of $27.63. The stock’s fifty day simple moving average is $25.39 and its 200-day simple moving average is $24.71.

Magnolia Oil & Gas Dividend Announcement

The business also recently declared 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. The ex-dividend date is Friday, August 9th. This represents a $0.52 annualized dividend and a yield of 2.07%. Magnolia Oil & Gas’s dividend payout ratio is currently 25.87%.

Institutional Trading of Magnolia Oil & Gas

Large investors have recently made changes to their positions in the company. Mather Group LLC. acquired a new position in Magnolia Oil & Gas during the first quarter worth approximately $27,000. Massmutual Trust Co. FSB ADV grew its position in shares of Magnolia Oil & Gas by 1,753.6% during the second quarter. Massmutual Trust Co. FSB ADV now owns 1,038 shares of the company’s stock worth $26,000 after acquiring an additional 982 shares during the last quarter. Opal Wealth Advisors LLC acquired a new position in shares of Magnolia Oil & Gas in the 2nd quarter valued at $26,000. Private Wealth Management Group LLC purchased a new stake in Magnolia Oil & Gas in the 4th quarter valued at $33,000. Finally, GAMMA Investing LLC boosted its stake in Magnolia Oil & Gas by 184.4% during the 2nd quarter. GAMMA Investing LLC now owns 1,607 shares of the company’s stock worth $41,000 after purchasing an additional 1,042 shares during the period. 94.73% of the stock is owned by institutional investors and hedge funds.

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.