Magnolia Oil & Gas Co. (NYSE:MGY) Shares Sold by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC reduced its stake in shares of Magnolia Oil & Gas Co. (NYSE:MGY) by 57.6% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 1,640 shares of the company’s stock after selling 2,225 shares during the period. Nisa Investment Advisors LLC’s holdings in Magnolia Oil & Gas were worth $35,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Albert D Mason Inc. boosted its holdings in Magnolia Oil & Gas by 1.6% during the fourth quarter. Albert D Mason Inc. now owns 31,094 shares of the company’s stock worth $662,000 after buying an additional 490 shares in the last quarter. Signaturefd LLC boosted its stake in shares of Magnolia Oil & Gas by 6.7% during the 3rd quarter. Signaturefd LLC now owns 8,325 shares of the company’s stock worth $191,000 after acquiring an additional 523 shares in the last quarter. AMG National Trust Bank grew its position in shares of Magnolia Oil & Gas by 1.3% during the 3rd quarter. AMG National Trust Bank now owns 57,698 shares of the company’s stock valued at $1,322,000 after acquiring an additional 730 shares during the period. VisionPoint Advisory Group LLC increased its stake in shares of Magnolia Oil & Gas by 112.3% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 1,537 shares of the company’s stock valued at $35,000 after purchasing an additional 813 shares in the last quarter. Finally, Stratos Wealth Advisors LLC raised its holdings in Magnolia Oil & Gas by 4.3% in the 4th quarter. Stratos Wealth Advisors LLC now owns 35,968 shares of the company’s stock worth $766,000 after purchasing an additional 1,473 shares during the period. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Magnolia Oil & Gas Stock Up 0.4 %

Shares of NYSE MGY opened at $25.72 on Tuesday. The stock has a market cap of $5.25 billion, a PE ratio of 12.55, a P/E/G ratio of 1.58 and a beta of 2.05. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.21. Magnolia Oil & Gas Co. has a 12-month low of $18.72 and a 12-month high of $27.33. The company has a 50-day moving average of $24.27 and a 200 day moving average of $22.42.

Magnolia Oil & Gas (NYSE:MGY) last posted its quarterly earnings results on Wednesday, February 14th. The company reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $322.63 million during the quarter, compared to analysts’ expectations of $324.95 million. As a group, sell-side analysts predict that Magnolia Oil & Gas Co. will post 2.08 EPS for the current fiscal year.

Magnolia Oil & Gas Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 16th were issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 2.02%. The ex-dividend date of this dividend was Thursday, February 15th. This is a positive change from Magnolia Oil & Gas’s previous quarterly dividend of $0.12. Magnolia Oil & Gas’s payout ratio is currently 25.37%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on MGY. Wells Fargo & Company raised their price objective on Magnolia Oil & Gas from $23.00 to $27.00 and gave the company an “equal weight” rating in a report on Thursday, April 18th. Piper Sandler restated a “neutral” rating and set a $29.00 price objective on shares of Magnolia Oil & Gas in a research report on Friday. Susquehanna increased their price objective on shares of Magnolia Oil & Gas from $28.00 to $31.00 and gave the company a “positive” rating in a report on Monday. Mizuho boosted their target price on shares of Magnolia Oil & Gas from $24.00 to $26.00 and gave the stock a “neutral” rating in a research note on Thursday, March 14th. Finally, The Goldman Sachs Group raised their price target on shares of Magnolia Oil & Gas from $24.50 to $28.00 and gave the company a “buy” rating in a research note on Tuesday, March 26th. One analyst has rated the stock with a sell rating, three have given 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 a consensus price target of $27.63.

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.