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

Vest Financial LLC increased its position in shares of Magnolia Oil & Gas Co. (NYSE:MGY) by 39.0% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,521,004 shares of the company’s stock after purchasing an additional 426,572 shares during the quarter. Vest Financial LLC owned 0.77% of Magnolia Oil & Gas worth $35,561,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. State Street Corp lifted its stake in Magnolia Oil & Gas by 4.2% in the 3rd quarter. State Street Corp now owns 10,700,257 shares of the company’s stock valued at $261,300,000 after buying an additional 435,326 shares in the last quarter. Geode Capital Management LLC raised 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 purchasing an additional 116,431 shares during the last quarter. Boston Trust Walden Corp lifted its holdings 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 purchasing an additional 267,461 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Magnolia Oil & Gas by 1.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,061,846 shares of the company’s stock worth $74,770,000 after purchasing an additional 50,351 shares during the last quarter. Finally, Systematic Financial Management LP grew its holdings in shares of Magnolia Oil & Gas by 7.5% during the third quarter. Systematic Financial Management LP now owns 2,920,018 shares of the company’s stock worth $71,307,000 after buying an additional 203,514 shares in the last quarter. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Magnolia Oil & Gas Stock Performance

Magnolia Oil & Gas stock opened at $22.78 on Friday. The firm has a market capitalization of $4.48 billion, a PE ratio of 11.28, a price-to-earnings-growth ratio of 2.85 and a beta of 1.98. Magnolia Oil & Gas Co. has a one year low of $20.08 and a one year high of $29.02. The stock’s 50 day moving average price is $24.81 and its 200 day moving average price is $25.39. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.47 and a current ratio of 1.47.

Magnolia Oil & Gas Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Friday, February 14th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Friday, February 14th. This is an increase 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 is 25.74%.

Wall Street Analysts Forecast Growth

MGY has been the topic of a number of analyst reports. Siebert Williams Shank lowered shares of Magnolia Oil & Gas from a “buy” rating to a “hold” rating and set a $30.00 target price on the stock. in a research report on Tuesday, October 15th. Mizuho raised their price objective on Magnolia Oil & Gas from $27.00 to $28.00 and gave the stock a “neutral” rating in a report on Monday, December 16th. The Goldman Sachs Group downgraded Magnolia Oil & Gas from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $27.00 to $26.00 in a research report on Friday, January 31st. Truist Financial increased their target price 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. Finally, Benchmark restated a “hold” rating on shares of Magnolia Oil & Gas in a report on Tuesday, October 15th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target 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.