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

Magnolia Oil & Gas Co. (NYSE:MGY) has earned an average recommendation of “Hold” from the fourteen brokerages that are covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $27.58.

Several analysts recently commented on MGY shares. Truist Financial upped their target price on Magnolia Oil & Gas from $33.00 to $34.00 and gave the company a “buy” rating in a report on Monday, January 13th. Johnson Rice downgraded shares of Magnolia Oil & Gas from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, January 28th. The Goldman Sachs Group cut shares of Magnolia Oil & Gas from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $27.00 to $26.00 in a research report on Friday, January 31st. Siebert Williams Shank lowered Magnolia Oil & Gas from a “buy” rating to a “hold” rating and set a $30.00 target price for the company. in a research report on Tuesday, October 15th. Finally, 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 report on Monday, December 16th.

Magnolia Oil & Gas Stock Performance

Shares of MGY stock opened at $22.78 on Monday. The business’s 50-day moving average price is $24.81 and its 200-day moving average price is $25.39. Magnolia Oil & Gas has a 12 month low of $20.08 and a 12 month high of $29.02. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $4.48 billion, a price-to-earnings ratio of 11.28, a PEG ratio of 2.98 and a beta of 1.98.

Magnolia Oil & Gas Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Friday, February 14th will be paid a $0.15 dividend. The ex-dividend date is Friday, February 14th. This is a boost from Magnolia Oil & Gas’s previous quarterly dividend of $0.13. This represents a $0.60 annualized dividend and a dividend yield of 2.63%. Magnolia Oil & Gas’s dividend payout ratio (DPR) is presently 25.74%.

Hedge Funds Weigh In On Magnolia Oil & Gas

Several hedge funds have recently made changes to their positions in MGY. Soros Fund Management LLC bought a new position in shares of Magnolia Oil & Gas during the third quarter valued at approximately $18,120,000. Barclays PLC grew its holdings in shares of Magnolia Oil & Gas by 62.5% in the third quarter. Barclays PLC now owns 1,653,736 shares of the company’s stock worth $40,383,000 after acquiring an additional 636,049 shares during the period. Raymond James Financial Inc. purchased a new stake in Magnolia Oil & Gas during the fourth quarter valued at $13,634,000. State Street Corp lifted its holdings in Magnolia Oil & Gas by 4.2% in the third quarter. State Street Corp now owns 10,700,257 shares of the company’s stock valued at $261,300,000 after acquiring an additional 435,326 shares during the period. Finally, Centiva Capital LP boosted its position in Magnolia Oil & Gas by 767.6% in the third quarter. Centiva Capital LP now owns 487,148 shares of the company’s stock worth $11,896,000 after purchasing an additional 430,996 shares during the last quarter. 94.73% of the stock is owned by hedge funds and other institutional investors.

About Magnolia Oil & Gas

Magnolia Oil & Gas Corp. engages in the acquisition, development, exploration, and production of oil and natural gas properties. It operates assets located in the Eagle Ford Shale and Austin Chalk formations in South Texas. The company was founded on February 14, 2017 and is headquartered in Houston, TX.