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

Vest Financial LLC lifted its stake in shares of Magnolia Oil & Gas Co. (NYSE:MGY) by 39.0% during the fourth quarter, Holdings Channel reports. The firm owned 1,521,004 shares of the company’s stock after buying an additional 426,572 shares during the period. Vest Financial LLC’s holdings in Magnolia Oil & Gas were worth $35,561,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. AQR Capital Management LLC increased its position in Magnolia Oil & Gas by 25.8% in the second quarter. AQR Capital Management LLC now owns 20,832 shares of the company’s stock worth $528,000 after buying an additional 4,276 shares during the period. Sanctuary Advisors LLC bought a new position in shares of Magnolia Oil & Gas during the second quarter worth about $428,000. GAMMA Investing LLC increased its holdings in shares of Magnolia Oil & Gas by 62.4% in the 3rd quarter. GAMMA Investing LLC now owns 2,609 shares of the company’s stock worth $64,000 after acquiring an additional 1,002 shares during the period. Exchange Traded Concepts LLC bought a new stake in Magnolia Oil & Gas in the 3rd quarter valued at about $846,000. Finally, Oliver Luxxe Assets LLC boosted its stake in Magnolia Oil & Gas by 80.6% during the 3rd quarter. Oliver Luxxe Assets LLC now owns 87,624 shares of the company’s stock valued at $2,140,000 after purchasing an additional 39,098 shares during the period. 94.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

MGY has been the topic of several analyst reports. Mizuho raised their price target on shares of Magnolia Oil & Gas from $27.00 to $28.00 and gave the company a “neutral” rating in a research note on Monday, December 16th. Truist Financial raised their target price on Magnolia Oil & Gas from $33.00 to $34.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Johnson Rice cut Magnolia Oil & Gas from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, January 28th. Siebert Williams Shank lowered Magnolia Oil & Gas from a “buy” rating to a “hold” rating and set a $30.00 price target on the stock. in a report on Tuesday, October 15th. Finally, Benchmark reaffirmed a “hold” rating on shares of Magnolia Oil & Gas in a report on Tuesday, October 15th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $27.58.

Magnolia Oil & Gas Trading Down 0.8 %

Shares of NYSE:MGY opened at $22.78 on Friday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.47 and a current ratio of 1.47. The stock has a market capitalization of $4.48 billion, a price-to-earnings ratio of 11.28, a PEG ratio of 2.85 and a beta of 1.98. Magnolia Oil & Gas Co. has a 1-year low of $20.08 and a 1-year high of $29.02. The company has a 50 day moving average price of $24.81 and a 200 day moving average price of $25.39.

Magnolia Oil & Gas Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Friday, February 14th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, February 14th. This is a positive change from Magnolia Oil & Gas’s previous quarterly dividend of $0.13. This represents a $0.60 annualized dividend and a dividend yield of 2.63%. Magnolia Oil & Gas’s dividend payout ratio (DPR) is currently 25.74%.

Magnolia Oil & Gas Company Profile

Magnolia Oil & Gas Corp. engages in the acquisition, development, exploration, and production of oil and natural gas properties. It operates assets located in the Eagle Ford Shale and Austin Chalk formations in South Texas. The company was founded on February 14, 2017 and is headquartered in Houston, TX.