Los Angeles Capital Management LLC Raises Position in Magnolia Oil & Gas Co. (NYSE:MGY)

Los Angeles Capital Management LLC grew its position in shares of Magnolia Oil & Gas Co. (NYSE:MGY) by 280.6% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 48,635 shares of the company’s stock after purchasing an additional 35,856 shares during the period. Los Angeles Capital Management LLC’s holdings in Magnolia Oil & Gas were worth $1,035,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. abrdn plc bought a new stake in Magnolia Oil & Gas during the third quarter valued at about $28,249,000. American Century Companies Inc. increased its holdings in Magnolia Oil & Gas by 24.7% in the 3rd quarter. American Century Companies Inc. now owns 6,009,953 shares of the company’s stock worth $137,688,000 after acquiring an additional 1,188,536 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Magnolia Oil & Gas by 9.9% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 3,041,390 shares of the company’s stock worth $64,751,000 after acquiring an additional 274,908 shares in the last quarter. Vest Financial LLC raised its stake in Magnolia Oil & Gas by 51.4% during the 4th quarter. Vest Financial LLC now owns 606,277 shares of the company’s stock worth $12,908,000 after acquiring an additional 205,924 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Magnolia Oil & Gas by 12.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,735,955 shares of the company’s stock valued at $39,771,000 after purchasing an additional 195,467 shares in the last quarter. Institutional investors own 94.73% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Truist Financial raised their price objective 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. Mizuho boosted their price objective on Magnolia Oil & Gas from $24.00 to $26.00 and gave the company a “neutral” rating in a research report on Thursday, March 14th. Susquehanna increased their target price on Magnolia Oil & Gas from $28.00 to $31.00 and gave the stock a “positive” rating in a research report on Monday, April 22nd. Benchmark reissued a “hold” rating on shares of Magnolia Oil & Gas in a report on Tuesday, April 23rd. Finally, The Goldman Sachs Group upped their price target on Magnolia Oil & Gas from $24.50 to $28.00 and gave the stock a “buy” rating in a research note on Tuesday, March 26th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Magnolia Oil & Gas currently has a consensus rating of “Hold” and an average target price of $27.63.

Magnolia Oil & Gas Stock Performance

NYSE:MGY opened at $26.50 on Friday. The company has a market cap of $5.41 billion, a price-to-earnings ratio of 13.18, a PEG ratio of 1.52 and a beta of 2.03. Magnolia Oil & Gas Co. has a 1 year low of $18.91 and a 1 year high of $27.33. The stock’s 50 day simple moving average is $25.34 and its two-hundred day simple moving average is $22.67. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.88 and a quick ratio of 1.88.

Magnolia Oil & Gas (NYSE:MGY) last posted 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). The business had revenue of $322.63 million during the quarter, compared to analysts’ expectations of $324.95 million. Magnolia Oil & Gas had a net margin of 31.65% and a return on equity of 21.21%. As a group, equities analysts anticipate that Magnolia Oil & Gas Co. will post 2.11 earnings per share for the current fiscal year.

Magnolia Oil & Gas Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 13th will be issued a $0.13 dividend. The ex-dividend date is Friday, May 10th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.96%. Magnolia Oil & Gas’s dividend payout ratio (DPR) is presently 25.87%.

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.