Phocas Financial Corp. Sells 92,881 Shares of Magnolia Oil & Gas Co. (NYSE:MGY)

Phocas Financial Corp. decreased its position in Magnolia Oil & Gas Co. (NYSE:MGY) by 79.5% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 23,920 shares of the company’s stock after selling 92,881 shares during the period. Phocas Financial Corp.’s holdings in Magnolia Oil & Gas were worth $559,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Illinois Municipal Retirement Fund grew its position in shares of Magnolia Oil & Gas by 3.0% in the 4th quarter. Illinois Municipal Retirement Fund now owns 105,799 shares of the company’s stock valued at $2,474,000 after purchasing an additional 3,047 shares during the period. Amalgamated Bank boosted its holdings in shares of Magnolia Oil & Gas by 1.3% in the fourth quarter. Amalgamated Bank now owns 55,581 shares of the company’s stock valued at $1,299,000 after buying an additional 704 shares during the period. IFP Advisors Inc increased its position in shares of Magnolia Oil & Gas by 46.9% during the fourth quarter. IFP Advisors Inc now owns 11,390 shares of the company’s stock worth $268,000 after acquiring an additional 3,638 shares in the last quarter. TimesSquare Capital Management LLC raised its holdings in shares of Magnolia Oil & Gas by 25.2% during the fourth quarter. TimesSquare Capital Management LLC now owns 793,965 shares of the company’s stock worth $18,563,000 after acquiring an additional 159,730 shares during the period. Finally, Valley Wealth Managers Inc. lifted its position in Magnolia Oil & Gas by 1.3% in the 4th quarter. Valley Wealth Managers Inc. now owns 682,024 shares of the company’s stock valued at $15,946,000 after acquiring an additional 8,960 shares in the last quarter. Institutional investors own 94.73% of the company’s stock.

Magnolia Oil & Gas Stock Down 2.9 %

Shares of NYSE MGY opened at $23.31 on Wednesday. The company has a market cap of $4.58 billion, a price-to-earnings ratio of 12.08, a PEG ratio of 3.01 and a beta of 1.98. The company has a current ratio of 1.42, a quick ratio of 1.47 and a debt-to-equity ratio of 0.20. The stock has a 50-day moving average price of $24.19 and a two-hundred day moving average price of $25.23. Magnolia Oil & Gas Co. has a 12 month low of $21.61 and a 12 month high of $29.02.

Magnolia Oil & Gas (NYSE:MGY) last issued its quarterly earnings data on Tuesday, February 18th. The company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $326.61 million during the quarter, compared to analyst estimates of $327.40 million. As a group, analysts forecast that Magnolia Oil & Gas Co. will post 2.1 earnings per share for the current fiscal year.

Magnolia Oil & Gas Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Friday, February 14th will be issued a dividend of $0.15 per share. This is a positive change from Magnolia Oil & Gas’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Friday, February 14th. This represents a $0.60 annualized dividend and a yield of 2.57%. Magnolia Oil & Gas’s dividend payout ratio (DPR) is presently 31.09%.

Wall Street Analyst Weigh In

Several research firms have issued reports on MGY. Piper Sandler lifted their price target on Magnolia Oil & Gas from $24.00 to $26.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. Mizuho boosted their target price on Magnolia Oil & Gas from $27.00 to $28.00 and gave the company a “neutral” rating in a research note on Monday, December 16th. Johnson Rice cut shares of Magnolia Oil & Gas from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, January 28th. Truist Financial increased their target price on shares of Magnolia Oil & Gas from $33.00 to $34.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Finally, Bank of America reissued a “neutral” rating and set a $28.00 price target (down from $29.00) on shares of Magnolia Oil & Gas in a research report on Monday, January 13th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $27.58.

Magnolia Oil & Gas Company 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.