Magnolia Oil & Gas Co. (NYSE:MGY) Shares Acquired by Meritage Portfolio Management

Meritage Portfolio Management grew its position in shares of Magnolia Oil & Gas Co. (NYSE:MGY) by 3.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 55,384 shares of the company’s stock after purchasing an additional 1,644 shares during the quarter. Meritage Portfolio Management’s holdings in Magnolia Oil & Gas were worth $1,179,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. California Public Employees Retirement System increased its stake in Magnolia Oil & Gas by 3.3% during the fourth quarter. California Public Employees Retirement System now owns 341,172 shares of the company’s stock worth $7,264,000 after purchasing an additional 10,965 shares during the period. Wedge Capital Management L L P NC grew its stake in shares of Magnolia Oil & Gas by 3.8% during the 4th quarter. Wedge Capital Management L L P NC now owns 255,438 shares of the company’s stock worth $5,438,000 after purchasing an additional 9,233 shares during the period. Signaturefd LLC grew its stake in shares of Magnolia Oil & Gas by 11.9% during the 4th quarter. Signaturefd LLC now owns 9,313 shares of the company’s stock worth $198,000 after purchasing an additional 988 shares during the period. Knights of Columbus Asset Advisors LLC grew its stake in shares of Magnolia Oil & Gas by 50.0% during the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 367,183 shares of the company’s stock worth $7,817,000 after purchasing an additional 122,371 shares during the period. Finally, Oak Family Advisors LLC grew its stake in shares of Magnolia Oil & Gas by 1.6% during the 4th quarter. Oak Family Advisors LLC now owns 80,587 shares of the company’s stock worth $1,716,000 after purchasing an additional 1,275 shares during the period. 94.73% of the stock is owned by hedge funds and other institutional investors.

Magnolia Oil & Gas Stock Performance

MGY stock traded up $0.09 during mid-day trading on Friday, reaching $26.37. The company had a trading volume of 613,389 shares, compared to its average volume of 3,172,991. 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 stock has a market capitalization of $5.39 billion, a P/E ratio of 12.82, a P/E/G ratio of 1.59 and a beta of 2.05. Magnolia Oil & Gas Co. has a one year low of $18.72 and a one year high of $27.33. The stock’s 50-day simple moving average is $24.60 and its two-hundred day simple moving average is $22.50.

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

Magnolia Oil & Gas Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 16th were paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.97%. This is an increase from Magnolia Oil & Gas’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Thursday, February 15th. Magnolia Oil & Gas’s dividend payout ratio (DPR) is presently 25.37%.

Wall Street Analysts Forecast Growth

MGY has been the topic of several recent research reports. Bank of America began coverage on shares of Magnolia Oil & Gas in a research report on Tuesday, February 27th. They issued a “buy” rating and a $25.00 price objective on the stock. Citigroup upped their price objective on shares of Magnolia Oil & Gas from $18.00 to $22.00 and gave the company a “sell” rating in a research note on Monday, April 15th. Wells Fargo & Company upped their price objective on shares of Magnolia Oil & Gas from $23.00 to $27.00 and gave the company an “equal weight” rating in a research note on Thursday, April 18th. Piper Sandler reaffirmed a “neutral” rating and set a $29.00 price objective on shares of Magnolia Oil & Gas in a research note on Friday, April 19th. Finally, Benchmark reissued a “hold” rating on shares of Magnolia Oil & Gas in a research report on Tuesday. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $27.63.

Magnolia Oil & Gas Company 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.