Venturi Wealth Management LLC Purchases New Position in Magnolia Oil & Gas Co. (NYSE:MGY)

Venturi Wealth Management LLC acquired a new stake in Magnolia Oil & Gas Co. (NYSE:MGY) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 4,350 shares of the company’s stock, valued at approximately $102,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. First Horizon Advisors Inc. grew its stake in shares of Magnolia Oil & Gas by 64.7% during the third quarter. First Horizon Advisors Inc. now owns 1,008 shares of the company’s stock valued at $25,000 after acquiring an additional 396 shares in the last quarter. Albert D Mason Inc. boosted its holdings in Magnolia Oil & Gas by 0.7% in the fourth quarter. Albert D Mason Inc. now owns 61,497 shares of the company’s stock valued at $1,438,000 after purchasing an additional 411 shares during the last quarter. Jennison Associates LLC grew its stake in Magnolia Oil & Gas by 2.2% during the 3rd quarter. Jennison Associates LLC now owns 23,836 shares of the company’s stock valued at $582,000 after purchasing an additional 506 shares in the last quarter. Avior Wealth Management LLC increased its holdings in Magnolia Oil & Gas by 30.0% during the 4th quarter. Avior Wealth Management LLC now owns 2,194 shares of the company’s stock worth $51,000 after purchasing an additional 506 shares during the last quarter. Finally, Atria Investments Inc raised its position in shares of Magnolia Oil & Gas by 2.3% in the 3rd quarter. Atria Investments Inc now owns 23,576 shares of the company’s stock valued at $576,000 after purchasing an additional 523 shares in the last quarter. Institutional investors and hedge funds own 94.73% of the company’s stock.

Analyst Upgrades and Downgrades

MGY has been the subject of a number of recent analyst reports. The Goldman Sachs Group downgraded shares of Magnolia Oil & Gas from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $27.00 to $26.00 in a research report on Friday, January 31st. Johnson Rice downgraded shares of Magnolia Oil & Gas from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, January 28th. Piper Sandler increased their price target on shares of Magnolia Oil & Gas from $24.00 to $26.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Truist Financial boosted their price objective on Magnolia Oil & Gas from $33.00 to $34.00 and gave the company a “buy” rating in a report on Monday, January 13th. Finally, Bank of America reaffirmed a “neutral” rating and set a $28.00 target price (down previously from $29.00) on shares of Magnolia Oil & Gas in a report on Monday, January 13th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $27.58.

Magnolia Oil & Gas Price Performance

Shares of MGY opened at $24.04 on Monday. Magnolia Oil & Gas Co. has a 12 month low of $21.49 and a 12 month high of $29.02. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.42 and a quick ratio of 1.47. The stock has a fifty day moving average price of $24.22 and a 200 day moving average price of $25.24. The company has a market cap of $4.72 billion, a P/E ratio of 12.45, a PEG ratio of 3.01 and a beta of 1.98.

Magnolia Oil & Gas (NYSE:MGY) last released its quarterly earnings data on Tuesday, February 18th. The company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.03. The business had revenue of $326.61 million for the quarter, compared to analysts’ expectations of $327.40 million. Magnolia Oil & Gas had a net margin of 27.82% and a return on equity of 20.74%. On average, research analysts forecast that Magnolia Oil & Gas Co. will post 2.1 earnings per share for the current year.

Magnolia Oil & Gas Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Friday, February 14th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date of this dividend is Friday, February 14th. This is a boost from Magnolia Oil & Gas’s previous quarterly dividend of $0.13. Magnolia Oil & Gas’s payout ratio is 31.09%.

About Magnolia Oil & Gas

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.