Allspring Global Investments Holdings LLC Increases Position in Magnolia Oil & Gas Co. (NYSE:MGY)

Allspring Global Investments Holdings LLC raised its stake in shares of Magnolia Oil & Gas Co. (NYSE:MGY - Free Report) by 9.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 3,041,390 shares of the company's stock after purchasing an additional 274,908 shares during the quarter. Allspring Global Investments Holdings LLC owned 1.47% of Magnolia Oil & Gas worth $64,751,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. VisionPoint Advisory Group LLC lifted its position in Magnolia Oil & Gas by 112.3% in the third quarter. VisionPoint Advisory Group LLC now owns 1,537 shares of the company's stock worth $35,000 after purchasing an additional 813 shares during the period. State of Wyoming lifted its holdings in shares of Magnolia Oil & Gas by 38.8% during the 2nd quarter. State of Wyoming now owns 2,552 shares of the company's stock worth $53,000 after acquiring an additional 713 shares during the period. Captrust Financial Advisors boosted its position in shares of Magnolia Oil & Gas by 42.4% during the 1st quarter. Captrust Financial Advisors now owns 3,608 shares of the company's stock valued at $85,000 after acquiring an additional 1,075 shares in the last quarter. Financial Management Professionals Inc. increased its stake in Magnolia Oil & Gas by 48.7% in the third quarter. Financial Management Professionals Inc. now owns 3,794 shares of the company's stock valued at $87,000 after acquiring an additional 1,242 shares during the period. Finally, UBS Group AG increased its stake in Magnolia Oil & Gas by 22.2% in the first quarter. UBS Group AG now owns 4,653 shares of the company's stock valued at $110,000 after acquiring an additional 846 shares during the period. Institutional investors and hedge funds own 94.73% of the company's stock.

Magnolia Oil & Gas Stock Performance

NYSE MGY traded down $0.03 during trading on Thursday, reaching $26.81. 2,413,443 shares of the company's stock were exchanged, compared to its average volume of 3,316,688. Magnolia Oil & Gas Co. has a fifty-two week low of $18.72 and a fifty-two week high of $27.20. The stock has a market capitalization of $5.48 billion, a P/E ratio of 13.08, a PEG ratio of 1.70 and a beta of 2.05. The business has a 50 day moving average price of $23.47 and a 200-day moving average price of $22.25. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.88 and a quick ratio of 1.88.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last posted its earnings results on Wednesday, February 14th. The company reported $0.50 earnings per share for the quarter, missing analysts' consensus estimates of $0.54 by ($0.04). Magnolia Oil & Gas had a return on equity of 21.21% and a net margin of 31.65%. The business had revenue of $322.63 million for the quarter, compared to analyst estimates of $324.95 million. Sell-side analysts forecast that Magnolia Oil & Gas Co. will post 2 earnings per share for the current fiscal year.

Magnolia Oil & Gas Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 16th were given a dividend of $0.13 per share. This is a positive change from Magnolia Oil & Gas's previous quarterly dividend of $0.12. The ex-dividend date was Thursday, February 15th. This represents a $0.52 annualized dividend and a dividend yield of 1.94%. Magnolia Oil & Gas's dividend payout ratio (DPR) is currently 25.37%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Wells Fargo & Company decreased their price objective on Magnolia Oil & Gas from $23.00 to $21.00 and set an "equal weight" rating on the stock in a report on Friday, January 19th. Piper Sandler reduced their target price on shares of Magnolia Oil & Gas from $30.00 to $29.00 and set an "overweight" rating for the company in a report on Wednesday, January 24th. Bank of America assumed coverage on Magnolia Oil & Gas in a research report on Tuesday, February 27th. They issued a "buy" rating and a $25.00 target price on the stock. The Goldman Sachs Group increased their price target on Magnolia Oil & Gas from $24.50 to $28.00 and gave the company a "buy" rating in a research report on Tuesday, March 26th. Finally, Mizuho boosted their price target on Magnolia Oil & Gas from $24.00 to $26.00 and gave the stock a "neutral" rating in a research report on Thursday, March 14th. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Magnolia Oil & Gas presently has a consensus rating of "Hold" and an average target price of $25.71.

Magnolia Oil & Gas Profile

Magnolia Oil & Gas Corporation, an independent oil and natural gas company, engages 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 in South Texas principally comprising the Eagle Ford Shale and the Austin Chalk formation.