Boston Trust Walden Corp increased its stake in Magnolia Oil & Gas Corp (NYSE:MGY - Free Report) by 2.8% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,178,608 shares of the company's stock after purchasing an additional 88,021 shares during the quarter. Boston Trust Walden Corp owned 1.64% of Magnolia Oil & Gas worth $80,292,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Isthmus Partners LLC increased its stake in Magnolia Oil & Gas by 5.2% in the 4th quarter. Isthmus Partners LLC now owns 9,320 shares of the company's stock valued at $218,000 after purchasing an additional 460 shares in the last quarter. OneDigital Investment Advisors LLC raised its position in Magnolia Oil & Gas by 3.0% during the fourth quarter. OneDigital Investment Advisors LLC now owns 15,768 shares of the company's stock worth $369,000 after acquiring an additional 464 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of Magnolia Oil & Gas by 1.4% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 40,783 shares of the company's stock valued at $954,000 after purchasing an additional 564 shares during the last quarter. Larson Financial Group LLC raised its position in shares of Magnolia Oil & Gas by 112.3% during the 4th quarter. Larson Financial Group LLC now owns 1,072 shares of the company's stock worth $25,000 after purchasing an additional 567 shares during the last quarter. Finally, Summit Investment Advisors Inc. raised its holdings in shares of Magnolia Oil & Gas by 3.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 18,119 shares of the company's stock worth $424,000 after acquiring an additional 574 shares during the last quarter. Hedge funds and other institutional investors own 94.73% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities analysts have recently weighed in on MGY shares. Williams Trading set a $29.00 price objective on shares of Magnolia Oil & Gas in a research report on Wednesday, March 5th. UBS Group reiterated a "buy" rating and issued a $29.00 target price (up from $26.00) on shares of Magnolia Oil & Gas in a research note on Friday, June 13th. Citigroup cut their price objective on shares of Magnolia Oil & Gas from $22.00 to $19.00 and set a "sell" rating on the stock in a report on Tuesday, April 8th. Bank of America lifted their price target on shares of Magnolia Oil & Gas from $23.00 to $25.00 and gave the company a "neutral" rating in a report on Friday, May 23rd. Finally, Piper Sandler dropped their price target on Magnolia Oil & Gas from $25.00 to $24.00 and set a "neutral" rating for the company in a research note on Tuesday, May 13th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $27.00.
Check Out Our Latest Research Report on MGY
Magnolia Oil & Gas Stock Performance
Shares of MGY traded down $0.14 during midday trading on Thursday, hitting $24.08. 2,885,404 shares of the stock traded hands, compared to its average volume of 2,300,541. The business's 50 day moving average price is $21.92 and its two-hundred day moving average price is $23.38. The firm has a market capitalization of $4.63 billion, a PE ratio of 11.98, a price-to-earnings-growth ratio of 3.22 and a beta of 1.29. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.33 and a current ratio of 1.33. Magnolia Oil & Gas Corp has a 1-year low of $19.09 and a 1-year high of $29.02.
Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last posted its earnings results on Wednesday, April 30th. The company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.53 by $0.02. Magnolia Oil & Gas had a return on equity of 20.73% and a net margin of 28.50%. The firm had revenue of $350.30 million for the quarter, compared to analysts' expectations of $337.83 million. During the same period last year, the firm earned $0.46 EPS. The firm's revenue was up 9.7% compared to the same quarter last year. Equities research analysts predict that Magnolia Oil & Gas Corp will post 2.1 EPS for the current fiscal year.
Magnolia Oil & Gas Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 12th were given a $0.15 dividend. The ex-dividend date was Monday, May 12th. This represents a $0.60 dividend on an annualized basis and a yield of 2.49%. Magnolia Oil & Gas's dividend payout ratio (DPR) is 29.85%.
Magnolia Oil & Gas Profile
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Free Report)
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.
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