Magnolia Oil & Gas Co. (NYSE:MGY) Shares Bought by Signaturefd LLC

Signaturefd LLC increased its holdings in Magnolia Oil & Gas Co. (NYSE:MGY) by 11.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 9,313 shares of the company’s stock after acquiring an additional 988 shares during the quarter. Signaturefd LLC’s holdings in Magnolia Oil & Gas were worth $198,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. VisionPoint Advisory Group LLC raised its position 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. Arlington Trust Co LLC acquired a new stake in shares of Magnolia Oil & Gas in the 4th quarter valued at about $113,000. Fulton Bank N.A. bought a new position in shares of Magnolia Oil & Gas during the fourth quarter worth about $213,000. Truvestments Capital LLC increased its holdings in Magnolia Oil & Gas by 21.2% in the third quarter. Truvestments Capital LLC now owns 10,992 shares of the company’s stock valued at $252,000 after buying an additional 1,920 shares during the last quarter. Finally, Independence Bank of Kentucky raised its stake in Magnolia Oil & Gas by 393.9% during the fourth quarter. Independence Bank of Kentucky now owns 12,100 shares of the company’s stock valued at $258,000 after buying an additional 9,650 shares in the last quarter. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on MGY. Truist Financial lifted their price objective on shares of Magnolia Oil & Gas from $32.00 to $33.00 and gave the stock a “buy” rating in a report on Friday, February 16th. Mizuho boosted their price objective on shares of Magnolia Oil & Gas from $24.00 to $26.00 and gave the company a “neutral” rating in a research report on Thursday, March 14th. Bank of America started coverage on shares of Magnolia Oil & Gas in a report on Tuesday, February 27th. They issued a “buy” rating and a $25.00 target price on the stock. Benchmark reaffirmed a “hold” rating on shares of Magnolia Oil & Gas in a report on Tuesday, April 23rd. Finally, The Goldman Sachs Group raised their price target on Magnolia Oil & Gas from $24.50 to $28.00 and gave the stock a “buy” rating in a report on Tuesday, March 26th. One research 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’s stock. According to MarketBeat.com, Magnolia Oil & Gas currently has an average rating of “Hold” and an average target price of $27.63.

Magnolia Oil & Gas Stock Performance

MGY stock opened at $26.34 on Friday. The company has a 50-day simple moving average of $24.69 and a 200 day simple moving average of $22.53. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $5.38 billion, a P/E ratio of 12.85, a PEG ratio of 1.61 and a beta of 2.05. Magnolia Oil & Gas Co. has a fifty-two week low of $18.72 and a fifty-two week high of $27.33.

Magnolia Oil & Gas (NYSE:MGY) last released its earnings results on Wednesday, February 14th. The company reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.04). Magnolia Oil & Gas had a return on equity of 21.21% and a net margin of 31.65%. The firm had revenue of $322.63 million during the quarter, compared to analyst estimates of $324.95 million. Sell-side analysts predict that Magnolia Oil & Gas Co. will post 2.09 earnings per share for the current fiscal year.

Magnolia Oil & Gas Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 16th were paid a dividend of $0.13 per share. The ex-dividend date was Thursday, February 15th. This is a positive change from Magnolia Oil & Gas’s previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a yield of 1.97%. Magnolia Oil & Gas’s dividend payout ratio is currently 25.37%.

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.