Boston Trust Walden Corp Raises Stake in Magnolia Oil & Gas Corp $MGY

Key Points

• Boston Trust Walden Corp raised its stake in Magnolia Oil & Gas (NYSE:MGY) by 5.7% to 4,168,085 shares — about 2.21% of the company worth roughly $91.24 million.
• Magnolia increased its quarterly dividend to $0.165 (annualized $0.66), implying a ~2.3% yield with a payout ratio of 38.37%.
• Insiders sold a total of 338,954 shares in the last quarter — including the CEO’s sale of 119,954 shares — totaling about $9.9 million in insider stock sales.

Boston Trust Walden Corp raised its position in Magnolia Oil & Gas Corp (NYSE:MGY - Free Report) by 5.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,168,085 shares of the company's stock after acquiring an additional 225,349 shares during the quarter. Boston Trust Walden Corp owned approximately 2.21% of Magnolia Oil & Gas worth $91,239,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in MGY. AQR Capital Management LLC lifted its stake in Magnolia Oil & Gas by 77.7% in the first quarter. AQR Capital Management LLC now owns 56,346 shares of the company's stock worth $1,423,000 after acquiring an additional 24,631 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Magnolia Oil & Gas by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 103,109 shares of the company's stock worth $2,605,000 after purchasing an additional 4,512 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Magnolia Oil & Gas by 8.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 242,880 shares of the company's stock worth $6,135,000 after purchasing an additional 18,447 shares in the last quarter. Intech Investment Management LLC raised its holdings in Magnolia Oil & Gas by 11.3% during the first quarter. Intech Investment Management LLC now owns 68,814 shares of the company's stock worth $1,738,000 after purchasing an additional 7,008 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in Magnolia Oil & Gas by 165.5% during the second quarter. EverSource Wealth Advisors LLC now owns 1,386 shares of the company's stock worth $31,000 after purchasing an additional 864 shares in the last quarter. Hedge funds and other institutional investors own 94.73% of the company's stock.

Magnolia Oil & Gas Stock Performance

Shares of MGY opened at $28.73 on Wednesday. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 0.20. The firm has a market cap of $5.35 billion, a PE ratio of 16.70, a price-to-earnings-growth ratio of 1.68 and a beta of 0.83. The company's 50 day simple moving average is $29.10 and its 200-day simple moving average is $25.19. Magnolia Oil & Gas Corp has a 12-month low of $20.25 and a 12-month high of $32.76.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last announced its earnings results on Thursday, February 5th. The company reported $0.37 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.36 by $0.01. The business had revenue of $317.63 million for the quarter, compared to analyst estimates of $322.18 million. Magnolia Oil & Gas had a net margin of 24.79% and a return on equity of 16.67%. The company's revenue for the quarter was down 2.8% compared to the same quarter last year. During the same period last year, the firm posted $0.44 earnings per share. As a group, equities analysts predict that Magnolia Oil & Gas Corp will post 2.67 EPS for the current year.

Magnolia Oil & Gas Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 2nd. Stockholders of record on Tuesday, February 10th were given a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 2.3%. This is a boost from Magnolia Oil & Gas's previous quarterly dividend of $0.15. The ex-dividend date was Tuesday, February 10th. Magnolia Oil & Gas's payout ratio is 38.37%.

Analysts Set New Price Targets

MGY has been the topic of a number of research analyst reports. Truist Financial initiated coverage on shares of Magnolia Oil & Gas in a report on Tuesday, March 24th. They set a "hold" rating and a $33.00 price objective on the stock. Siebert Williams Shank cut shares of Magnolia Oil & Gas from a "buy" rating to a "hold" rating in a report on Friday, March 6th. Bank of America raised shares of Magnolia Oil & Gas from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $26.00 to $28.00 in a report on Friday, January 16th. Roth Mkm reissued a "neutral" rating and set a $32.00 price objective (up from $29.00) on shares of Magnolia Oil & Gas in a report on Wednesday, April 8th. Finally, BMO Capital Markets initiated coverage on shares of Magnolia Oil & Gas in a report on Friday, January 9th. They set an "outperform" rating and a $27.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and nine have issued a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $31.00.

Insider Buying and Selling at Magnolia Oil & Gas

In other news, Director Dan F. Smith sold 18,000 shares of the firm's stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $29.01, for a total transaction of $522,180.00. Following the transaction, the director directly owned 119,204 shares in the company, valued at approximately $3,458,108.04. This trade represents a 13.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Christopher G. Stavros sold 119,954 shares of the firm's stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $29.29, for a total transaction of $3,513,452.66. Following the transaction, the chief executive officer owned 883,592 shares in the company, valued at approximately $25,880,409.68. This trade represents a 11.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 338,954 shares of company stock valued at $9,911,733. 0.92% of the stock is owned by company insiders.

Magnolia Oil & Gas Company Profile

Magnolia Oil & Gas Corp NYSE: MGY is an independent exploration and production company focused on the acquisition, development and optimization of onshore oil and gas assets in South Texas. Headquartered in Houston, the company concentrates its efforts on the Eagle Ford Shale, where it holds significant working interests in key producing counties.

The company's core operations center on horizontal drilling and multi-stage completions designed to extract light crude oil, natural gas and natural gas liquids (NGLs).

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