Magnolia Oil & Gas (NYSE:MGY) Downgraded to Neutral Rating by The Goldman Sachs Group

The Goldman Sachs Group cut shares of Magnolia Oil & Gas (NYSE:MGY - Free Report) from a buy rating to a neutral rating in a research note published on Friday, MarketBeat reports. The brokerage currently has $26.00 price objective on the stock, down from their prior price objective of $27.00.

A number of other brokerages also recently weighed in on MGY. Siebert Williams Shank downgraded shares of Magnolia Oil & Gas from a "buy" rating to a "hold" rating and set a $30.00 price target for the company. in a report on Tuesday, October 15th. Mizuho increased 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 note on Monday, December 16th. Johnson Rice lowered Magnolia Oil & Gas from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, January 28th. Benchmark reiterated a "hold" rating on shares of Magnolia Oil & Gas in a research report on Tuesday, October 15th. Finally, 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 research note on Monday, January 13th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Magnolia Oil & Gas has a consensus rating of "Hold" and an average price target of $27.58.

Magnolia Oil & Gas Stock Performance

MGY stock traded up $0.52 during mid-day trading on Friday, reaching $24.19. 1,151,685 shares of the stock traded hands, compared to its average volume of 1,798,246. 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 business has a 50-day moving average of $25.06 and a two-hundred day moving average of $25.43. The firm has a market capitalization of $4.75 billion, a PE ratio of 11.98, a P/E/G ratio of 2.98 and a beta of 1.98. Magnolia Oil & Gas has a 52 week low of $19.53 and a 52 week high of $29.02.

Magnolia Oil & Gas Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Friday, February 14th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 2.48%. This is a positive change from Magnolia Oil & Gas's previous quarterly dividend of $0.13. Magnolia Oil & Gas's payout ratio is currently 25.74%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. First Horizon Advisors Inc. lifted its holdings in Magnolia Oil & Gas by 64.7% during the 3rd quarter. First Horizon Advisors Inc. now owns 1,008 shares of the company's stock worth $25,000 after buying an additional 396 shares in the last quarter. Albert D Mason Inc. grew its position in shares of Magnolia Oil & Gas by 0.7% during the 4th quarter. Albert D Mason Inc. now owns 61,497 shares of the company's stock worth $1,438,000 after buying an additional 411 shares during the period. Jennison Associates LLC grew its position in shares of Magnolia Oil & Gas by 2.2% during the 3rd quarter. Jennison Associates LLC now owns 23,836 shares of the company's stock worth $582,000 after buying an additional 506 shares during the period. Avior Wealth Management LLC raised its stake in shares of Magnolia Oil & Gas by 30.0% during the fourth quarter. Avior Wealth Management LLC now owns 2,194 shares of the company's stock worth $51,000 after buying an additional 506 shares during the last quarter. Finally, Atria Investments Inc lifted its holdings in Magnolia Oil & Gas by 2.3% in the third quarter. Atria Investments Inc now owns 23,576 shares of the company's stock valued at $576,000 after buying an additional 523 shares during the period. Institutional investors and hedge funds own 94.73% of the company's stock.

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.