HighTower Advisors LLC Acquires Shares of 14,200 Magnolia Oil & Gas Co. (NYSE:MGY)

HighTower Advisors LLC purchased a new stake in Magnolia Oil & Gas Co. (NYSE:MGY) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 14,200 shares of the company’s stock, valued at approximately $353,000.

Other hedge funds have also recently added to or reduced their stakes in the company. American Century Companies Inc. increased its position in shares of Magnolia Oil & Gas by 9.9% during the second quarter. American Century Companies Inc. now owns 9,389,368 shares of the company’s stock worth $237,927,000 after buying an additional 847,542 shares during the period. Dimensional Fund Advisors LP boosted its stake in Magnolia Oil & Gas by 16.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,520,725 shares of the company’s stock valued at $114,554,000 after purchasing an additional 627,933 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Magnolia Oil & Gas by 1.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 3,061,846 shares of the company’s stock valued at $74,770,000 after buying an additional 50,351 shares during the last quarter. Boston Trust Walden Corp grew its stake in shares of Magnolia Oil & Gas by 4.4% in the 3rd quarter. Boston Trust Walden Corp now owns 2,823,126 shares of the company’s stock worth $68,941,000 after acquiring an additional 119,582 shares in the last quarter. Finally, Loomis Sayles & Co. L P grew its position in Magnolia Oil & Gas by 10.0% in the 3rd quarter. Loomis Sayles & Co. L P now owns 2,782,550 shares of the company’s stock worth $67,950,000 after purchasing an additional 253,911 shares in the last quarter. Institutional investors and hedge funds own 94.73% of the company’s stock.

Magnolia Oil & Gas Stock Down 1.1 %

Shares of NYSE:MGY opened at $22.89 on Monday. The company has a 50-day moving average price of $26.31 and a 200 day moving average price of $25.61. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.20. Magnolia Oil & Gas Co. has a 12 month low of $19.16 and a 12 month high of $29.02. The company has a market cap of $4.50 billion, a price-to-earnings ratio of 11.33, a PEG ratio of 1.29 and a beta of 1.99.

Magnolia Oil & Gas (NYSE:MGY) last announced its earnings results on Wednesday, October 30th. The company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.04. The firm had revenue of $333.14 million during the quarter, compared to analysts’ expectations of $331.45 million. Magnolia Oil & Gas had a return on equity of 20.78% and a net margin of 28.88%. As a group, equities research analysts predict that Magnolia Oil & Gas Co. will post 2 earnings per share for the current year.

Magnolia Oil & Gas Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Friday, November 8th were paid a dividend of $0.13 per share. The ex-dividend date was Friday, November 8th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.27%. Magnolia Oil & Gas’s dividend payout ratio is presently 25.74%.

Analysts Set New Price Targets

MGY has been the subject of several research analyst reports. Wells Fargo & Company lowered shares of Magnolia Oil & Gas from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $26.00 to $22.00 in a research note on Tuesday, October 1st. Mizuho raised their price target on shares of Magnolia Oil & Gas from $27.00 to $28.00 and gave the company a “neutral” rating in a report on Monday, December 16th. Susquehanna cut their price objective on Magnolia Oil & Gas from $33.00 to $32.00 and set a “positive” rating for the company in a report on Wednesday, September 4th. Piper Sandler reduced their target price on Magnolia Oil & Gas from $26.00 to $24.00 and set a “neutral” rating on the stock in a research note on Tuesday, December 17th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Magnolia Oil & Gas from $26.00 to $23.00 and set a “neutral” rating on the stock in a research note on Thursday, September 12th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $27.58.

About Magnolia Oil & Gas

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.