GW&K Investment Management LLC Decreases Holdings in Magnolia Oil & Gas Co. (NYSE:MGY)

GW&K Investment Management LLC lowered its position in Magnolia Oil & Gas Co. (NYSE:MGY) by 1.2% during the fourth quarter, HoldingsChannel.com reports. The fund owned 3,484,155 shares of the company’s stock after selling 42,361 shares during the quarter. Magnolia Oil & Gas accounts for approximately 0.7% of GW&K Investment Management LLC’s holdings, making the stock its 29th largest holding. GW&K Investment Management LLC’s holdings in Magnolia Oil & Gas were worth $81,460,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. State Street Corp grew its holdings in Magnolia Oil & Gas by 4.2% in the third quarter. State Street Corp now owns 10,700,257 shares of the company’s stock valued at $261,300,000 after purchasing an additional 435,326 shares during the last quarter. Geode Capital Management LLC grew its stake in Magnolia Oil & Gas by 2.9% in the 3rd quarter. Geode Capital Management LLC now owns 4,107,769 shares of the company’s stock valued at $100,332,000 after acquiring an additional 116,431 shares during the last quarter. Boston Trust Walden Corp grew its stake in Magnolia Oil & Gas by 9.5% in the 4th quarter. Boston Trust Walden Corp now owns 3,090,587 shares of the company’s stock valued at $72,258,000 after acquiring an additional 267,461 shares during the last quarter. Systematic Financial Management LP increased its holdings in Magnolia Oil & Gas by 7.5% during the 3rd quarter. Systematic Financial Management LP now owns 2,920,018 shares of the company’s stock valued at $71,307,000 after acquiring an additional 203,514 shares in the last quarter. Finally, Loomis Sayles & Co. L P raised its position in Magnolia Oil & Gas by 10.0% during the third quarter. Loomis Sayles & Co. L P now owns 2,782,550 shares of the company’s stock worth $67,950,000 after acquiring an additional 253,911 shares during the last quarter. 94.73% of the stock is owned by institutional investors and hedge funds.

Magnolia Oil & Gas Trading Up 0.4 %

NYSE MGY opened at $23.52 on Friday. The company has a market cap of $4.62 billion, a P/E ratio of 12.18, a P/E/G ratio of 3.01 and a beta of 1.98. Magnolia Oil & Gas Co. has a 12 month low of $22.04 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 company has a 50-day moving average of $24.19 and a 200-day moving average of $25.22.

Magnolia Oil & Gas (NYSE:MGY) last issued its quarterly earnings results on Tuesday, February 18th. The company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.46 by $0.03. The firm had revenue of $326.61 million during the quarter, compared to analyst estimates of $327.40 million. Magnolia Oil & Gas had a net margin of 27.82% and a return on equity of 20.74%. As a group, equities analysts predict that Magnolia Oil & Gas Co. will post 2.1 earnings per share for the current year.

Magnolia Oil & Gas Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Friday, February 14th will be given a $0.15 dividend. 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 2.55%. The ex-dividend date of this dividend is Friday, February 14th. Magnolia Oil & Gas’s dividend payout ratio (DPR) is 31.09%.

Analyst Ratings Changes

MGY has been the topic of several research reports. Piper Sandler increased their price target on shares of Magnolia Oil & Gas from $24.00 to $26.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Truist Financial raised their price target on Magnolia Oil & Gas from $33.00 to $34.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Mizuho boosted their price target on Magnolia Oil & Gas from $27.00 to $28.00 and gave the stock a “neutral” rating in a report on Monday, December 16th. Johnson Rice lowered Magnolia Oil & Gas from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, January 28th. Finally, Bank of America reissued a “neutral” rating and issued a $28.00 target price (down previously from $29.00) on shares of Magnolia Oil & Gas in a research note on Monday, January 13th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $27.58.

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.