HighTower Advisors LLC Has $353,000 Stock Position in Magnolia Oil & Gas Co. (NYSE:MGY)

HighTower Advisors LLC lifted its holdings in Magnolia Oil & Gas Co. (NYSE:MGY) by 6.4% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 15,106 shares of the company’s stock after acquiring an additional 906 shares during the period. HighTower Advisors LLC’s holdings in Magnolia Oil & Gas were worth $353,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. Soros Fund Management LLC bought a new stake in Magnolia Oil & Gas in the 3rd quarter valued at about $18,120,000. Barclays PLC boosted its stake in shares of Magnolia Oil & Gas by 62.5% in the third quarter. Barclays PLC now owns 1,653,736 shares of the company’s stock valued at $40,383,000 after buying an additional 636,049 shares during the period. Raymond James Financial Inc. acquired a new stake in Magnolia Oil & Gas during the fourth quarter worth approximately $13,634,000. State Street Corp grew its position in Magnolia Oil & Gas by 4.2% during the third quarter. State Street Corp now owns 10,700,257 shares of the company’s stock worth $261,300,000 after buying an additional 435,326 shares in the last quarter. Finally, Vest Financial LLC increased its stake in Magnolia Oil & Gas by 39.0% during the 4th quarter. Vest Financial LLC now owns 1,521,004 shares of the company’s stock worth $35,561,000 after acquiring an additional 426,572 shares during the period. 94.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on MGY shares. Williams Trading set a $29.00 target price on Magnolia Oil & Gas in a report on Wednesday, March 5th. The Goldman Sachs Group downgraded shares of Magnolia Oil & Gas from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $27.00 to $26.00 in a research note on Friday, January 31st. Bank of America restated a “neutral” rating and issued a $28.00 target price (down from $29.00) on shares of Magnolia Oil & Gas in a research report on Monday, January 13th. Truist Financial increased their price target on shares of Magnolia Oil & Gas from $33.00 to $34.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Finally, Mizuho lifted their price objective on shares of Magnolia Oil & Gas from $27.00 to $28.00 and gave the company a “neutral” rating in a research note on Monday, December 16th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $27.77.

Magnolia Oil & Gas Stock Up 1.0 %

Shares of NYSE:MGY opened at $25.52 on Wednesday. Magnolia Oil & Gas Co. has a 52-week low of $21.63 and a 52-week high of $29.02. The company has a market capitalization of $4.96 billion, a PE ratio of 13.22, a price-to-earnings-growth ratio of 3.01 and a beta of 1.90. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.47 and a current ratio of 1.42. The company has a fifty day moving average of $24.04 and a 200-day moving average of $25.11.

Magnolia Oil & Gas (NYSE:MGY) last issued its earnings results on Tuesday, February 18th. The company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $326.61 million during the quarter, compared to analysts’ expectations of $327.40 million. On average, equities analysts predict that Magnolia Oil & Gas Co. will post 2.1 EPS for the current fiscal year.

Magnolia Oil & Gas Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date of this dividend was Friday, February 14th. This is a positive change from Magnolia Oil & Gas’s previous quarterly dividend of $0.13. Magnolia Oil & Gas’s dividend payout ratio (DPR) is 31.09%.

Insider Buying and Selling

In related news, CEO Christopher G. Stavros bought 2,500 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was acquired 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 in the company, valued at approximately $19,676,802.60. This trade represents a 0.28 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.20% of the stock is owned by corporate insiders.

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.