28,867 Shares in Magnolia Oil & Gas Corp $MGY Purchased by CWA Asset Management Group LLC

CWA Asset Management Group LLC bought a new stake in Magnolia Oil & Gas Corp (NYSE:MGY) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 28,867 shares of the company’s stock, valued at approximately $632,000.

Other large investors have also recently bought and sold shares of the company. GAMMA Investing LLC raised its position in shares of Magnolia Oil & Gas by 8.0% during the 4th quarter. GAMMA Investing LLC now owns 6,130 shares of the company’s stock worth $134,000 after buying an additional 453 shares in the last quarter. Coldstream Capital Management Inc. boosted its holdings in shares of Magnolia Oil & Gas by 3.1% in the third quarter. Coldstream Capital Management Inc. now owns 15,937 shares of the company’s stock valued at $380,000 after acquiring an additional 482 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of Magnolia Oil & Gas by 13.2% in the third quarter. Farther Finance Advisors LLC now owns 4,284 shares of the company’s stock valued at $102,000 after acquiring an additional 500 shares in the last quarter. Amalgamated Bank increased its stake in shares of Magnolia Oil & Gas by 1.0% during the third quarter. Amalgamated Bank now owns 53,307 shares of the company’s stock valued at $1,272,000 after acquiring an additional 552 shares during the period. Finally, Lazard Asset Management LLC increased its stake in shares of Magnolia Oil & Gas by 0.4% during the second quarter. Lazard Asset Management LLC now owns 167,071 shares of the company’s stock valued at $3,755,000 after acquiring an additional 671 shares during the period. Institutional investors and hedge funds own 94.73% of the company’s stock.

Magnolia Oil & Gas Stock Up 0.6%

MGY stock opened at $30.94 on Tuesday. Magnolia Oil & Gas Corp has a 12 month low of $19.09 and a 12 month high of $31.21. The firm has a market cap of $5.77 billion, a PE ratio of 17.99, a P/E/G ratio of 2.78 and a beta of 0.89. The firm has a 50 day simple moving average of $26.75 and a 200 day simple moving average of $24.29. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.54 and a quick ratio of 1.54.

Magnolia Oil & Gas (NYSE:MGY) last posted its quarterly earnings results on Thursday, February 5th. The company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.01. The firm had revenue of $317.63 million for the quarter, compared to analyst estimates of $322.18 million. Magnolia Oil & Gas had a net margin of 24.79% and a return on equity of 16.67%. The firm’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.44 earnings per share. Equities research analysts forecast that Magnolia Oil & Gas Corp will post 2.1 earnings per share for the current fiscal year.

Magnolia Oil & Gas Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 2nd. Stockholders of record on Tuesday, February 10th were paid a dividend of $0.165 per share. The ex-dividend date of this dividend was Tuesday, February 10th. This represents a $0.66 annualized dividend and a dividend yield of 2.1%. This is a boost from Magnolia Oil & Gas’s previous quarterly dividend of $0.15. Magnolia Oil & Gas’s dividend payout ratio is 38.37%.

Insiders Place Their Bets

In other news, CEO Christopher G. Stavros sold 119,954 shares of the business’s stock in a transaction on Monday, March 9th. The stock was sold at an average price of $29.29, for a total transaction of $3,513,452.66. Following the sale, the chief executive officer directly owned 883,592 shares of the company’s stock, valued at $25,880,409.68. The trade was a 11.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Dan F. Smith sold 18,000 shares of the company’s stock in a transaction on Monday, March 9th. The shares were sold at an average price of $29.01, for a total value of $522,180.00. Following the sale, the director directly owned 119,204 shares of the company’s stock, valued at approximately $3,458,108.04. This represents a 13.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 338,954 shares of company stock worth $9,911,733. Corporate insiders own 0.93% of the company’s stock.

Wall Street Analysts Forecast Growth

MGY has been the subject of a number of research analyst reports. Wells Fargo & Company set a $25.00 target price on Magnolia Oil & Gas in a research report on Monday, February 16th. Citigroup lifted their price target on Magnolia Oil & Gas from $25.00 to $29.00 and gave the company a “neutral” rating in a research report on Wednesday, February 18th. Roth Mkm reissued a “buy” rating on shares of Magnolia Oil & Gas in a research note on Tuesday, February 10th. BMO Capital Markets started coverage on Magnolia Oil & Gas in a report on Friday, January 9th. They issued an “outperform” rating and a $27.00 price objective for the company. Finally, Susquehanna decreased their target price on Magnolia Oil & Gas from $30.00 to $28.00 and set a “positive” rating for the company in a research note on Monday, January 26th. Eight equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $28.90.

Magnolia Oil & Gas Profile

Magnolia Oil & Gas Corp (NYSE: MGY) is an independent exploration and production company focused on the acquisition, development and optimization of onshore oil and gas assets in South Texas. Headquartered in Houston, the company concentrates its efforts on the Eagle Ford Shale, where it holds significant working interests in key producing counties.

The company’s core operations center on horizontal drilling and multi-stage completions designed to extract light crude oil, natural gas and natural gas liquids (NGLs).