Magnolia Oil & Gas’ (MGY) Maintains Rating Reiterated at SpectralCast

SpectralCast reissued their maintains rating on shares of Magnolia Oil & Gas (NYSE:MGY – Get Rating) in a report released on Monday, Benzinga reports.

A number of other equities analysts also recently commented on the company. Roth Capital reiterated a buy rating on shares of Magnolia Oil & Gas in a research note on Tuesday, February 14th. Piper Sandler cut their price target on Magnolia Oil & Gas from $34.00 to $33.00 in a report on Thursday, May 18th. Mizuho cut their price target on Magnolia Oil & Gas from $29.00 to $28.00 in a report on Friday, May 19th. Credit Suisse Group lifted their price target on Magnolia Oil & Gas from $28.00 to $29.00 and gave the company a buy rating in a report on Thursday, February 16th. Finally, Citigroup dropped their target price on Magnolia Oil & Gas from $25.00 to $22.00 in a report on Sunday. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average target price of $28.88.

Magnolia Oil & Gas Stock Down 0.2 %

NYSE:MGY opened at $20.50 on Monday. The company has a market capitalization of $4.35 billion, a price-to-earnings ratio of 4.76 and a beta of 2.15. Magnolia Oil & Gas has a one year low of $18.01 and a one year high of $30.31. The stock has a 50-day simple moving average of $21.02 and a 200 day simple moving average of $22.61. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.64 and a current ratio of 2.64.

Magnolia Oil & Gas Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 1st. Shareholders of record on Thursday, May 11th will be given a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a yield of 2.24%. The ex-dividend date is Wednesday, May 10th. Magnolia Oil & Gas’s payout ratio is 10.67%.

Hedge Funds Weigh In On Magnolia Oil & Gas

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Tucker Asset Management LLC purchased a new position in shares of Magnolia Oil & Gas during the 1st quarter valued at $27,000. CI Investments Inc. acquired a new position in Magnolia Oil & Gas during the 4th quarter worth $31,000. Parallel Advisors LLC lifted its position in Magnolia Oil & Gas by 246.3% during the 1st quarter. Parallel Advisors LLC now owns 2,493 shares of the company’s stock worth $55,000 after acquiring an additional 1,773 shares during the last quarter. Trifecta Capital Advisors LLC acquired a new position in Magnolia Oil & Gas during the 4th quarter worth $71,000. Finally, Rockefeller Capital Management L.P. lifted its position in Magnolia Oil & Gas by 65.1% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 3,648 shares of the company’s stock worth $72,000 after acquiring an additional 1,439 shares during the last quarter. 98.60% of the stock is currently owned by hedge funds and other institutional investors.

Magnolia Oil & Gas Company Profile

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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.