Magnolia Oil & Gas Co. (NYSE:MGY) Shares Acquired by Knights of Columbus Asset Advisors LLC

Knights of Columbus Asset Advisors LLC lifted its position in Magnolia Oil & Gas Co. (NYSE:MGY) by 50.0% in the 4th quarter, HoldingsChannel reports. The firm owned 367,183 shares of the company’s stock after purchasing an additional 122,371 shares during the quarter. Knights of Columbus Asset Advisors LLC’s holdings in Magnolia Oil & Gas were worth $7,817,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. VisionPoint Advisory Group LLC increased its holdings in Magnolia Oil & Gas by 112.3% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 1,537 shares of the company’s stock worth $35,000 after buying an additional 813 shares during the period. State of Wyoming increased its stake in shares of Magnolia Oil & Gas by 38.8% in the second quarter. State of Wyoming now owns 2,552 shares of the company’s stock worth $53,000 after acquiring an additional 713 shares during the period. Captrust Financial Advisors raised its holdings in shares of Magnolia Oil & Gas by 42.4% during the first quarter. Captrust Financial Advisors now owns 3,608 shares of the company’s stock worth $85,000 after purchasing an additional 1,075 shares during the last quarter. Financial Management Professionals Inc. lifted its position in Magnolia Oil & Gas by 48.7% during the third quarter. Financial Management Professionals Inc. now owns 3,794 shares of the company’s stock valued at $87,000 after purchasing an additional 1,242 shares during the period. Finally, UBS Group AG boosted its holdings in Magnolia Oil & Gas by 22.2% in the first quarter. UBS Group AG now owns 4,653 shares of the company’s stock valued at $110,000 after purchasing an additional 846 shares during the last quarter. Institutional investors and hedge funds own 94.73% of the company’s stock.

Magnolia Oil & Gas Price Performance

MGY traded up $0.03 during trading on Friday, hitting $25.71. The company’s stock had a trading volume of 1,102,868 shares, compared to its average volume of 3,239,083. The firm has a market capitalization of $5.25 billion, a price-to-earnings ratio of 12.52, a P/E/G ratio of 1.59 and a beta of 2.05. Magnolia Oil & Gas Co. has a twelve month low of $18.72 and a twelve month high of $27.33. The business’s fifty day simple moving average is $23.96 and its 200 day simple moving average is $22.33. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.21.

Magnolia Oil & Gas (NYSE:MGY) last released its quarterly earnings results on Wednesday, February 14th. The company reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.04). The company had revenue of $322.63 million during the quarter, compared to analyst estimates of $324.95 million. Magnolia Oil & Gas had a net margin of 31.65% and a return on equity of 21.21%. On average, equities research analysts forecast that Magnolia Oil & Gas Co. will post 2.08 EPS for the current fiscal year.

Magnolia Oil & Gas Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 16th were given a $0.13 dividend. This is a positive change from Magnolia Oil & Gas’s previous quarterly dividend of $0.12. The ex-dividend date was Thursday, February 15th. This represents a $0.52 annualized dividend and a dividend yield of 2.02%. Magnolia Oil & Gas’s dividend payout ratio (DPR) is 25.37%.

Analysts Set New Price Targets

A number of research firms have weighed in on MGY. Bank of America began coverage on Magnolia Oil & Gas in a research note on Tuesday, February 27th. They set a “buy” rating and a $25.00 price objective for the company. Truist Financial lifted their price target on Magnolia Oil & Gas from $32.00 to $33.00 and gave the company a “buy” rating in a research report on Friday, February 16th. The Goldman Sachs Group upped their price objective on Magnolia Oil & Gas from $24.50 to $28.00 and gave the stock a “buy” rating in a research report on Tuesday, March 26th. Piper Sandler reaffirmed a “neutral” rating and set a $29.00 price objective on shares of Magnolia Oil & Gas in a research note on Friday. Finally, Wells Fargo & Company boosted their target price on shares of Magnolia Oil & Gas from $23.00 to $27.00 and gave the company an “equal weight” rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $27.14.

Magnolia Oil & Gas Company Profile

Magnolia Oil & Gas Corporation, an independent oil and natural gas company, engages in the acquisition, development, exploration, and production of oil, natural gas, and natural gas liquids reserves in the United States. Its properties are located primarily in Karnes County and the Giddings area in South Texas principally comprising the Eagle Ford Shale and the Austin Chalk formation.