Osterweis Capital Management Inc. Purchases 35,347 Shares of Magnolia Oil & Gas Co. (NYSE:MGY)

Osterweis Capital Management Inc. grew its holdings in Magnolia Oil & Gas Co. (NYSE:MGY - Free Report) by 7.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 480,512 shares of the company's stock after acquiring an additional 35,347 shares during the quarter. Osterweis Capital Management Inc. owned 0.24% of Magnolia Oil & Gas worth $11,234,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Larson Financial Group LLC boosted its holdings in shares of Magnolia Oil & Gas by 112.3% in the 4th quarter. Larson Financial Group LLC now owns 1,072 shares of the company's stock valued at $25,000 after purchasing an additional 567 shares in the last quarter. Mather Group LLC. lifted its stake in Magnolia Oil & Gas by 100.0% in the 4th quarter. Mather Group LLC. now owns 1,090 shares of the company's stock valued at $25,000 after purchasing an additional 545 shares during the last quarter. R Squared Ltd bought a new stake in shares of Magnolia Oil & Gas during the fourth quarter worth $43,000. Avior Wealth Management LLC increased its holdings in shares of Magnolia Oil & Gas by 30.0% during the fourth quarter. Avior Wealth Management LLC now owns 2,194 shares of the company's stock worth $51,000 after buying an additional 506 shares in the last quarter. Finally, Smartleaf Asset Management LLC grew its position in Magnolia Oil & Gas by 95.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 3,777 shares of the company's stock worth $88,000 after acquiring an additional 1,844 shares during the last quarter. Institutional investors and hedge funds own 94.73% of the company's stock.

Magnolia Oil & Gas Price Performance

MGY stock traded up $0.78 during midday trading on Tuesday, reaching $20.97. The company had a trading volume of 591,186 shares, compared to its average volume of 2,283,473. The firm has a 50-day moving average price of $23.05 and a 200-day moving average price of $24.66. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.42 and a quick ratio of 1.47. The company has a market capitalization of $4.07 billion, a P/E ratio of 10.87, a P/E/G ratio of 3.01 and a beta of 1.57. Magnolia Oil & Gas Co. 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 announced its quarterly earnings data on Tuesday, February 18th. The company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.03. Magnolia Oil & Gas had a return on equity of 20.74% and a net margin of 27.82%. The firm had revenue of $326.61 million during the quarter, compared to the consensus estimate of $327.40 million. On average, research analysts anticipate that Magnolia Oil & Gas Co. will post 2.1 earnings per share for the current fiscal year.

Magnolia Oil & Gas Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were paid a dividend of $0.15 per share. This is a positive change from Magnolia Oil & Gas's previous quarterly dividend of $0.13. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.86%. Magnolia Oil & Gas's payout ratio is presently 31.09%.

Insider Buying and Selling

In other Magnolia Oil & Gas news, CEO Christopher G. Stavros bought 2,500 shares of Magnolia Oil & Gas stock in a transaction dated Monday, March 3rd. The shares were purchased at an average cost of $22.05 per share, with a total value of $55,125.00. Following the transaction, the chief executive officer now directly owns 892,372 shares of the company's stock, valued at $19,676,802.60. This represents a 0.28 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.20% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have commented on MGY. Johnson Rice cut Magnolia Oil & Gas from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, January 28th. Truist Financial boosted their price target on shares of Magnolia Oil & Gas from $33.00 to $34.00 and gave the company a "buy" rating in a research note on Monday, January 13th. UBS Group assumed coverage on shares of Magnolia Oil & Gas in a report on Tuesday. They set a "buy" rating and a $26.00 price target on the stock. Piper Sandler boosted their price target on shares of Magnolia Oil & Gas from $24.00 to $26.00 and gave the stock a "neutral" rating in a report on Wednesday, January 29th. Finally, Williams Trading set a $29.00 price objective on shares of Magnolia Oil & Gas in a research report on Wednesday, March 5th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $27.43.

About Magnolia Oil & Gas

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.