Analysts Set Magnolia Oil & Gas Co. (NYSE:MGY) Price Target at $27.58

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

Several equities research analysts have recently weighed in on the company. Bank of America reissued a “neutral” rating and issued a $28.00 price target (down previously from $29.00) on shares of Magnolia Oil & Gas in a research note on Monday, January 13th. Truist Financial increased their target price on shares of Magnolia Oil & Gas from $33.00 to $34.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Mizuho boosted their price target on shares of Magnolia Oil & Gas from $27.00 to $28.00 and gave the stock a “neutral” rating in a research report on Monday, December 16th. Benchmark reiterated a “hold” rating on shares of Magnolia Oil & Gas in a research report on Tuesday, October 15th. Finally, Siebert Williams Shank lowered shares of Magnolia Oil & Gas from a “buy” rating to a “hold” rating and set a $30.00 target price on the stock. in a report on Tuesday, October 15th.

Magnolia Oil & Gas Stock Performance

NYSE MGY opened at $22.78 on Monday. The company has a market capitalization of $4.48 billion, a price-to-earnings ratio of 11.28, a PEG ratio of 2.85 and a beta of 1.98. Magnolia Oil & Gas has a twelve month low of $20.08 and a twelve month high of $29.02. The stock has a fifty day simple moving average of $24.71 and a 200 day simple moving average of $25.35. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.20.

Magnolia Oil & Gas Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Friday, February 14th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Friday, February 14th. This is an increase 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 currently 25.74%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in MGY. Harbor Capital Advisors Inc. bought a new stake in shares of Magnolia Oil & Gas during the third quarter valued at approximately $25,000. First Horizon Advisors Inc. increased its stake 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 valued at $25,000 after purchasing an additional 396 shares in the last quarter. Mather Group LLC. raised its holdings in Magnolia Oil & Gas by 100.0% during the fourth quarter. Mather Group LLC. now owns 1,090 shares of the company’s stock worth $25,000 after buying an additional 545 shares during the last quarter. Larson Financial Group LLC lifted its stake in shares of Magnolia Oil & Gas by 112.3% in the fourth quarter. Larson Financial Group LLC now owns 1,072 shares of the company’s stock valued at $25,000 after buying an additional 567 shares in the last quarter. Finally, R Squared Ltd acquired a new position in shares of Magnolia Oil & Gas during the fourth quarter valued at about $43,000. Institutional investors 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.