Magnolia Oil & Gas Co. (NYSE:MGY) Receives Consensus Recommendation of "Hold" from Analysts

Shares of Magnolia Oil & Gas Co. (NYSE:MGY - Get Free Report) have been assigned an average recommendation of "Hold" from the fourteen brokerages that are presently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, eight have given a hold recommendation and four have given a buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $27.58.

Several equities research analysts recently commented on MGY shares. Piper Sandler raised their target price on Magnolia Oil & Gas from $24.00 to $26.00 and gave the stock a "neutral" rating in a research note on Wednesday, January 29th. Siebert Williams Shank downgraded shares of Magnolia Oil & Gas from a "buy" rating to a "hold" rating and set a $30.00 price objective for the company. in a research report on Tuesday, October 15th. Mizuho boosted their target price on shares of Magnolia Oil & Gas from $27.00 to $28.00 and gave the company a "neutral" rating in a research report on Monday, December 16th. Johnson Rice cut shares of Magnolia Oil & Gas from a "moderate buy" rating to a "hold" rating in a report on Tuesday, January 28th. Finally, Truist Financial lifted their price target on shares of Magnolia Oil & Gas from $33.00 to $34.00 and gave the company a "buy" rating in a research note on Monday, January 13th.

Magnolia Oil & Gas Trading Down 3.2 %

Magnolia Oil & Gas stock traded down $0.76 during trading hours on Monday, reaching $22.98. 1,659,271 shares of the company's stock were exchanged, compared to its average volume of 1,834,120. The firm's 50 day simple moving average is $24.91 and its 200 day simple moving average is $25.40. Magnolia Oil & Gas has a twelve month low of $20.08 and a twelve month high of $29.02. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $4.52 billion, a PE ratio of 11.37, a PEG ratio of 2.98 and a beta of 1.98.

Magnolia Oil & Gas Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Friday, February 14th will be given a $0.15 dividend. This is a positive change from Magnolia Oil & Gas's previous quarterly dividend of $0.13. This represents a $0.60 dividend on an annualized basis and a yield of 2.61%. The ex-dividend date is Friday, February 14th. Magnolia Oil & Gas's dividend payout ratio is presently 25.74%.

Hedge Funds Weigh In On Magnolia Oil & Gas

A number of hedge funds have recently bought and sold shares of the company. State Street Corp lifted its position in shares of Magnolia Oil & Gas by 4.2% during the third quarter. State Street Corp now owns 10,700,257 shares of the company's stock valued at $261,300,000 after purchasing an additional 435,326 shares in the last quarter. Geode Capital Management LLC increased its stake in Magnolia Oil & Gas by 2.9% in the 3rd quarter. Geode Capital Management LLC now owns 4,107,769 shares of the company's stock valued at $100,332,000 after buying an additional 116,431 shares during the last quarter. Boston Trust Walden Corp lifted its position in shares of Magnolia Oil & Gas by 9.5% during the 4th quarter. Boston Trust Walden Corp now owns 3,090,587 shares of the company's stock worth $72,258,000 after buying an additional 267,461 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Magnolia Oil & Gas by 1.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,061,846 shares of the company's stock worth $74,770,000 after buying an additional 50,351 shares during the last quarter. Finally, Systematic Financial Management LP grew its holdings in shares of Magnolia Oil & Gas by 7.5% in the third quarter. Systematic Financial Management LP now owns 2,920,018 shares of the company's stock valued at $71,307,000 after acquiring an additional 203,514 shares in the last quarter. 94.73% of the stock is owned by hedge funds and other institutional investors.

Magnolia Oil & Gas Company Profile

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.