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

Venturi Wealth Management LLC bought a new position in Magnolia Oil & Gas Co. (NYSE:MGY) in the fourth quarter, according to its most recent filing with the SEC. The firm bought 4,350 shares of the company’s stock, valued at approximately $102,000.

Several other large investors also recently bought and sold shares of MGY. FMR LLC lifted its stake in shares of Magnolia Oil & Gas by 174.9% during the third quarter. FMR LLC now owns 34,851 shares of the company’s stock worth $851,000 after buying an additional 22,171 shares during the period. HighTower Advisors LLC purchased a new position in Magnolia Oil & Gas in the 3rd quarter worth $353,000. Intech Investment Management LLC acquired a new stake in Magnolia Oil & Gas during the 3rd quarter worth about $1,252,000. Citigroup Inc. grew its stake in Magnolia Oil & Gas by 30.6% during the 3rd quarter. Citigroup Inc. now owns 313,778 shares of the company’s stock valued at $7,662,000 after purchasing an additional 73,431 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Magnolia Oil & Gas by 3.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,991,017 shares of the company’s stock valued at $48,621,000 after purchasing an additional 75,305 shares during the period. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Magnolia Oil & Gas Stock Performance

Shares of MGY stock opened at $24.04 on Monday. The stock’s 50-day moving average is $24.22 and its two-hundred day moving average is $25.24. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.47 and a current ratio of 1.42. Magnolia Oil & Gas Co. has a 1 year low of $21.49 and a 1 year high of $29.02. The firm has a market cap of $4.72 billion, a price-to-earnings 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 results on Tuesday, February 18th. The company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.46 by $0.03. Magnolia Oil & Gas had a net margin of 27.82% and a return on equity of 20.74%. The firm had revenue of $326.61 million during the quarter, compared to the consensus estimate of $327.40 million. Analysts predict 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 announced 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. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.50%. This is an increase from Magnolia Oil & Gas’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Friday, February 14th. Magnolia Oil & Gas’s dividend payout ratio is 31.09%.

Analysts Set New Price Targets

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