Magnolia Oil & Gas Co. (NYSE:MGY) receives a consensus recommendation of “Hold” from analysts

Magnolia Oil & Gas Co. (NYSE:MGY – Free Report) shares have received a consensus recommendation of “Hold” from the eleven brokerages that are covering the stock, MarketBeat.com reports. One equities analyst has rated the stock with a “Sell,” four have issued a “Hold” rating, and six have issued a “Buy” rating for the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $29.00.

MGY has been the subject of several analyst reports lately. Wolfe Research began coverage on shares of Magnolia Oil & Gas in a research note on Thursday, July 18. They issued an “outperform” rating and a $32.00 price target on the stock. Mizuho increased their price target on shares of Magnolia Oil & Gas from $26.00 to $28.00 and gave the company a “neutral” rating in a research report on Monday, May 13. Truist Financial increased their price target 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 2. Susquehanna increased 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 22. Finally, Benchmark reiterated its “hold” rating on Magnolia Oil & Gas shares in a research report on Thursday, July 18.

Check out our latest stock analysis on MGY

Performance of Magnolia Oil & Gas shares

Shares of NYSE:MGY opened at $24.30 on Monday. The company’s 50-day moving average is $25.33 and its 200-day moving average is $24.57. The stock has a market cap of $4.93 billion, a price-to-earnings ratio of 12.09, a price-to-earnings-growth ratio of 0.84 and a beta of 2.02. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.28 and a quick ratio of 1.28. Magnolia Oil & Gas has a 1-year low of $19.16 and a 1-year high of $27.63.

Dividend announcement for Magnolia Oil & Gas

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th will receive a dividend of $0.13 per share. The ex-dividend date is Friday, August 9th. This represents a dividend of $0.52 on an annualized basis and a dividend yield of 2.14%. Magnolia Oil & Gas’s dividend payout ratio (DPR) is currently 25.87%.

Insider transactions at Magnolia Oil & Gas

In other news, Director John B. Walker sold 12,000,000 shares of Magnolia Oil & Gas on Tuesday, May 14. The shares were sold at an average price of $25.58, for a total transaction of $306,960,000.00. Following the transaction, the director now owns 4,164,961 shares of the company’s stock, valued at $106,539,702.38. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.20% of the shares are owned by company insiders.

Hedge funds comment on Magnolia Oil & Gas

Several hedge funds have recently made changes to their holdings in the company. Mather Group LLC. acquired a new position in Magnolia Oil & Gas in the first quarter valued at $27,000. Massmutual Trust Co. FSB ADV increased its holdings 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 period. Opal Wealth Advisors LLC acquired a new position in Magnolia Oil & Gas in the second quarter valued at $26,000. Private Wealth Management Group LLC acquired a new position in Magnolia Oil & Gas in the fourth quarter valued at $33,000. Finally, GAMMA Investing LLC increased 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 same period. Institutional investors and hedge funds own 94.73% of the company’s stock.

Company profile of Magnolia Oil & Gas

(Get free report

Magnolia Oil & Gas Corporation, an independent oil and natural gas company, is engaged 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 of South Texas and consist primarily of the Eagle Ford Shale and Austin Chalk formations.

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