Anchor Capital Advisors LLC Has $1.99 Million Position in Magnolia Oil & Gas Co. (NYSE:MGY)

Anchor Capital Advisors LLC increased its position in Magnolia Oil & Gas Co. (NYSE:MGY) by 37.9% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 93,279 shares of the company’s stock after acquiring an additional 25,641 shares during the quarter. Anchor Capital Advisors LLC’s holdings in Magnolia Oil & Gas were worth $1,986,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. VisionPoint Advisory Group LLC boosted its position in Magnolia Oil & Gas by 112.3% in the third quarter. VisionPoint Advisory Group LLC now owns 1,537 shares of the company’s stock worth $35,000 after purchasing an additional 813 shares during the last quarter. Arlington Trust Co LLC bought a new position in shares of Magnolia Oil & Gas during the 4th quarter valued at approximately $113,000. Signaturefd LLC raised its stake in shares of Magnolia Oil & Gas by 6.7% in the third quarter. Signaturefd LLC now owns 8,325 shares of the company’s stock valued at $191,000 after acquiring an additional 523 shares during the period. Fulton Bank N.A. purchased a new position in shares of Magnolia Oil & Gas during the fourth quarter valued at approximately $213,000. Finally, Truvestments Capital LLC grew its position in Magnolia Oil & Gas by 21.2% in the 3rd quarter. Truvestments Capital LLC now owns 10,992 shares of the company’s stock valued at $252,000 after acquiring an additional 1,920 shares during the last quarter. Institutional investors own 94.73% of the company’s stock.

Wall Street Analysts Forecast Growth

MGY has been the subject of a number of analyst reports. Wells Fargo & Company upped their target price on Magnolia Oil & Gas from $23.00 to $27.00 and gave the stock an “equal weight” rating in a report on Thursday, April 18th. Benchmark restated a “hold” rating on shares of Magnolia Oil & Gas in a research note on Tuesday, April 23rd. Bank of America began coverage on Magnolia Oil & Gas in a research report on Tuesday, February 27th. They issued a “buy” rating and a $25.00 target price on the stock. Truist Financial lifted their price target on shares of Magnolia Oil & Gas from $32.00 to $33.00 and gave the company a “buy” rating in a research report on Friday, February 16th. Finally, Piper Sandler reissued a “neutral” rating and set a $29.00 target price on shares of Magnolia Oil & Gas in a research note on Friday, April 19th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $27.63.

Magnolia Oil & Gas Trading Down 3.0 %

NYSE MGY traded down $0.78 during trading hours on Tuesday, hitting $25.66. 276,629 shares of the company’s stock were exchanged, compared to its average volume of 3,125,737. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.88 and a current ratio of 1.88. The firm has a market capitalization of $5.24 billion, a P/E ratio of 12.90, a price-to-earnings-growth ratio of 1.61 and a beta of 2.05. The business’s 50 day moving average is $24.80 and its 200-day moving average is $22.55. Magnolia Oil & Gas Co. has a 12-month low of $18.72 and a 12-month high of $27.33.

Magnolia Oil & Gas (NYSE:MGY) last released 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 firm had revenue of $322.63 million during the quarter, compared to analyst estimates of $324.95 million. As a group, analysts anticipate that Magnolia Oil & Gas Co. will post 2.09 EPS for the current fiscal year.

Magnolia Oil & Gas Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 16th were paid a dividend of $0.13 per share. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.03%. 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 currently 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.