Rhumbline Advisers Buys 8,308 Shares of Magnolia Oil & Gas Co. (NYSE:MGY)

Rhumbline Advisers grew its stake in Magnolia Oil & Gas Co. (NYSE:MGY) by 1.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 539,434 shares of the company’s stock after acquiring an additional 8,308 shares during the period. Rhumbline Advisers owned 0.27% of Magnolia Oil & Gas worth $12,612,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. First Horizon Advisors Inc. grew its holdings in Magnolia Oil & Gas by 64.7% during the third quarter. First Horizon Advisors Inc. now owns 1,008 shares of the company’s stock worth $25,000 after purchasing an additional 396 shares during the period. Albert D Mason Inc. grew its holdings in Magnolia Oil & Gas by 0.7% during the fourth quarter. Albert D Mason Inc. now owns 61,497 shares of the company’s stock worth $1,438,000 after purchasing an additional 411 shares during the period. Jennison Associates LLC grew its holdings in Magnolia Oil & Gas by 2.2% during the third quarter. Jennison Associates LLC now owns 23,836 shares of the company’s stock worth $582,000 after purchasing an additional 506 shares during the period. Avior Wealth Management LLC grew its holdings in 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 purchasing an additional 506 shares during the period. Finally, Atria Investments Inc grew its holdings in Magnolia Oil & Gas by 2.3% during the third quarter. Atria Investments Inc now owns 23,576 shares of the company’s stock worth $576,000 after purchasing an additional 523 shares during the period. Institutional investors own 94.73% of the company’s stock.

Analysts Set New Price Targets

MGY has been the subject of a number of research analyst reports. The Goldman Sachs Group cut Magnolia Oil & Gas from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $27.00 to $26.00 in a report on Friday, January 31st. Piper Sandler raised their price objective on shares of Magnolia Oil & Gas from $24.00 to $26.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Johnson Rice downgraded shares of Magnolia Oil & Gas from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, January 28th. Mizuho raised their price objective on shares of Magnolia Oil & Gas from $27.00 to $28.00 and gave the stock a “neutral” rating in a research report on Monday, December 16th. Finally, Bank of America restated a “neutral” rating and set a $28.00 price objective (down from $29.00) on shares of Magnolia Oil & Gas in a research report on Monday, January 13th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $27.58.

Magnolia Oil & Gas Stock Down 2.3 %

NYSE MGY opened at $24.04 on Monday. The company has a current ratio of 1.42, a quick ratio of 1.47 and a debt-to-equity ratio of 0.20. Magnolia Oil & Gas Co. has a 1-year low of $21.49 and a 1-year high of $29.02. The company has a 50 day moving average of $24.22 and a 200-day moving average of $25.24. The company has a market cap of $4.72 billion, a price-to-earnings ratio of 12.45, a PEG ratio of 3.01 and a beta of 1.98.

Magnolia Oil & Gas (NYSE:MGY) last released its quarterly earnings results on Tuesday, February 18th. The company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.03. The company had revenue of $326.61 million during the quarter, compared to the consensus estimate of $327.40 million. Magnolia Oil & Gas had a net margin of 27.82% and a return on equity of 20.74%. On average, equities research analysts expect that Magnolia Oil & Gas Co. will post 2.1 earnings per share for the current fiscal year.

Magnolia Oil & Gas Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Friday, February 14th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 2.50%. This is a boost from Magnolia Oil & Gas’s previous quarterly dividend of $0.13. The ex-dividend date is Friday, February 14th. Magnolia Oil & Gas’s dividend payout ratio (DPR) is 31.09%.

Magnolia Oil & Gas Company Profile

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.