Magnolia Oil & Gas Co. (NYSE:MGY) Shares Purchased by Victory Capital Management Inc.

Victory Capital Management Inc. increased its position in shares of Magnolia Oil & Gas Co. (NYSE:MGY) by 2.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,162,526 shares of the company’s stock after acquiring an additional 128,097 shares during the quarter. Victory Capital Management Inc. owned approximately 2.98% of Magnolia Oil & Gas worth $131,200,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. VisionPoint Advisory Group LLC lifted its position in Magnolia Oil & Gas by 112.3% in the third quarter. VisionPoint Advisory Group LLC now owns 1,537 shares of the company’s stock valued at $35,000 after buying an additional 813 shares during the last quarter. Arlington Trust Co LLC acquired a new position in Magnolia Oil & Gas in the fourth quarter valued at about $113,000. Signaturefd LLC lifted its position in Magnolia Oil & Gas by 6.7% in the third quarter. Signaturefd LLC now owns 8,325 shares of the company’s stock valued at $191,000 after buying an additional 523 shares during the last quarter. Fulton Bank N.A. acquired a new position in Magnolia Oil & Gas in the fourth quarter valued at about $213,000. Finally, Truvestments Capital LLC lifted its position in Magnolia Oil & Gas by 21.2% in the third quarter. Truvestments Capital LLC now owns 10,992 shares of the company’s stock valued at $252,000 after buying an additional 1,920 shares during the last quarter. Institutional investors and hedge funds own 94.73% of the company’s stock.

Analyst Upgrades and Downgrades

MGY has been the topic of a number of recent analyst reports. Mizuho upped their target price on shares of Magnolia Oil & Gas from $24.00 to $26.00 and gave the company a “neutral” rating in a research report on Thursday, March 14th. Susquehanna increased their price target on shares of Magnolia Oil & Gas from $28.00 to $31.00 and gave the stock a “positive” rating in a research report on Monday, April 22nd. The Goldman Sachs Group increased their price target on shares of Magnolia Oil & Gas from $24.50 to $28.00 and gave the stock a “buy” rating in a research report on Tuesday, March 26th. Citigroup increased their price target on shares of Magnolia Oil & Gas from $18.00 to $22.00 and gave the stock a “sell” rating in a research report on Monday, April 15th. Finally, Truist Financial increased their price target on shares of Magnolia Oil & Gas from $32.00 to $33.00 and gave the stock a “buy” rating in a research report on Friday, February 16th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $27.63.

Magnolia Oil & Gas Stock Down 1.9 %

MGY stock opened at $24.59 on Thursday. The company’s 50 day moving average price is $24.92 and its 200 day moving average price is $22.58. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.88 and a current ratio of 1.88. Magnolia Oil & Gas Co. has a fifty-two week low of $18.72 and a fifty-two week high of $27.33. The firm has a market capitalization of $5.02 billion, a price-to-earnings ratio of 12.00, a PEG ratio of 1.53 and a beta of 2.03.

Magnolia Oil & Gas (NYSE:MGY) last released its earnings results on Wednesday, February 14th. The company reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.04). The firm had revenue of $322.63 million for the quarter, compared to analysts’ expectations of $324.95 million. Magnolia Oil & Gas had a return on equity of 21.21% and a net margin of 31.65%. On average, equities research analysts anticipate that Magnolia Oil & Gas Co. will post 2.09 EPS for the current fiscal year.

Magnolia Oil & Gas Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 16th were paid a $0.13 dividend. This is a positive change from Magnolia Oil & Gas’s previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a yield of 2.11%. The ex-dividend date of this dividend was Thursday, February 15th. Magnolia Oil & Gas’s dividend payout ratio is currently 25.37%.

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.