Magnolia Oil & Gas Co. (NYSE:MGY) Shares Sold by GW&K Investment Management LLC

GW&K Investment Management LLC decreased its holdings in shares of Magnolia Oil & Gas Co. (NYSE:MGY) by 1.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,484,155 shares of the company’s stock after selling 42,361 shares during the quarter. Magnolia Oil & Gas makes up approximately 0.7% of GW&K Investment Management LLC’s portfolio, making the stock its 29th biggest position. GW&K Investment Management LLC owned approximately 1.77% of Magnolia Oil & Gas worth $81,460,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Harbor Capital Advisors Inc. purchased a new stake in shares of Magnolia Oil & Gas during the 3rd quarter worth approximately $25,000. First Horizon Advisors Inc. lifted its position in Magnolia Oil & Gas by 64.7% in 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 during the last quarter. Mather Group LLC. lifted its position in Magnolia Oil & Gas by 100.0% in the fourth quarter. Mather Group LLC. now owns 1,090 shares of the company’s stock valued at $25,000 after acquiring an additional 545 shares during the last quarter. R Squared Ltd acquired a new position in Magnolia Oil & Gas in the fourth quarter valued at $43,000. Finally, Avior Wealth Management LLC grew its holdings in shares of Magnolia Oil & Gas by 30.0% during the fourth 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. 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. Magnolia Oil & Gas Co. has a 52-week low of $22.04 and a 52-week high of $29.02. The firm has a 50-day moving average price of $24.19 and a 200 day moving average price of $25.22. The stock has a market capitalization 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. The company has a quick ratio of 1.47, a current ratio of 1.42 and a debt-to-equity ratio of 0.20.

Magnolia Oil & Gas (NYSE:MGY) last issued its earnings results on Tuesday, February 18th. The company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.03. Magnolia Oil & Gas had a return on equity of 20.74% and a net margin of 27.82%. The business had revenue of $326.61 million during the quarter, compared to the consensus estimate of $327.40 million. Equities research analysts expect that Magnolia Oil & Gas Co. will post 2.1 EPS 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. Shareholders of record on Friday, February 14th will be issued a $0.15 dividend. The ex-dividend date is Friday, February 14th. This represents a $0.60 dividend on an annualized basis and a yield of 2.55%. This is an increase from Magnolia Oil & Gas’s previous quarterly dividend of $0.13. Magnolia Oil & Gas’s dividend payout ratio (DPR) is 31.09%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Piper Sandler boosted their target price on Magnolia Oil & Gas from $24.00 to $26.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. Johnson Rice cut Magnolia Oil & Gas from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, January 28th. Truist Financial raised their target price on shares of 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 lifted their target price on shares of Magnolia Oil & Gas from $27.00 to $28.00 and gave the company a “neutral” rating in a report on Monday, December 16th. Finally, The Goldman Sachs Group cut 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 note on Friday, January 31st. Two investment 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 MarketBeat, the company has a consensus rating of “Hold” and an average target price of $27.58.

Magnolia Oil & Gas 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.