Knights of Columbus Asset Advisors LLC Acquires 122,371 Shares of Magnolia Oil & Gas Co. (NYSE:MGY)

Knights of Columbus Asset Advisors LLC increased its holdings in shares of Magnolia Oil & Gas Co. (NYSE:MGY - Free Report) by 50.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 367,183 shares of the company's stock after acquiring an additional 122,371 shares during the period. Knights of Columbus Asset Advisors LLC owned about 0.18% of Magnolia Oil & Gas worth $7,817,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in MGY. Advisor Group Holdings Inc. lifted its holdings in Magnolia Oil & Gas by 121.9% during the 1st quarter. Advisor Group Holdings Inc. now owns 16,774 shares of the company's stock valued at $396,000 after purchasing an additional 9,214 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Magnolia Oil & Gas by 3.6% in the first quarter. Bank of New York Mellon Corp now owns 1,118,918 shares of the company's stock worth $26,462,000 after acquiring an additional 39,115 shares during the last quarter. Acadian Asset Management LLC raised its stake in shares of Magnolia Oil & Gas by 320.2% in the first quarter. Acadian Asset Management LLC now owns 10,686 shares of the company's stock worth $252,000 after acquiring an additional 8,143 shares during the last quarter. MetLife Investment Management LLC raised its stake in shares of Magnolia Oil & Gas by 55.1% in the first quarter. MetLife Investment Management LLC now owns 77,409 shares of the company's stock worth $1,831,000 after acquiring an additional 27,498 shares during the last quarter. Finally, Panagora Asset Management Inc. bought a new position in shares of Magnolia Oil & Gas in the first quarter worth about $1,084,000. 94.73% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

MGY has been the subject of a number of recent research reports. Truist Financial boosted their price target on shares of Magnolia Oil & Gas from $32.00 to $33.00 and gave the stock a "buy" rating in a research note on Friday, February 16th. Citigroup boosted their price objective on shares of Magnolia Oil & Gas from $18.00 to $22.00 and gave the company a "sell" rating in a report on Monday. Mizuho upped their price target on shares of Magnolia Oil & Gas from $24.00 to $26.00 and gave the company a "neutral" rating in a report on Thursday, March 14th. Bank of America began coverage on shares of Magnolia Oil & Gas in a report on Tuesday, February 27th. They issued a "buy" rating and a $25.00 price target for the company. Finally, Piper Sandler restated a "neutral" rating and set a $29.00 target price on shares of Magnolia Oil & Gas in a report on Friday. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $27.14.

Magnolia Oil & Gas Stock Performance

NYSE MGY traded down $0.07 on Friday, hitting $25.62. 2,642,195 shares of the stock were exchanged, compared to its average volume of 3,259,672. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.88 and a quick ratio of 1.88. The business's fifty day moving average is $24.07 and its 200 day moving average is $22.36. Magnolia Oil & Gas Co. has a 52 week low of $18.72 and a 52 week high of $27.33. The company has a market capitalization of $5.23 billion, a PE ratio of 12.50, a P/E/G ratio of 1.59 and a beta of 2.05.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last issued its quarterly earnings data on Wednesday, February 14th. The company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.04). Magnolia Oil & Gas had a net margin of 31.65% and a return on equity of 21.21%. The company had revenue of $322.63 million during the quarter, compared to the consensus estimate of $324.95 million. Research analysts anticipate that Magnolia Oil & Gas Co. will post 2.08 EPS for the current fiscal year.

Magnolia Oil & Gas Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 16th were issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date was Thursday, February 15th. This is a positive change from Magnolia Oil & Gas's previous quarterly dividend of $0.12. Magnolia Oil & Gas's dividend payout ratio (DPR) is 25.37%.

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.