Anchor Capital Advisors LLC Increases Stake in Magnolia Oil & Gas Co. (NYSE:MGY)

Anchor Capital Advisors LLC boosted its stake in shares of Magnolia Oil & Gas Co. (NYSE:MGY) by 1.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 101,236 shares of the company’s stock after purchasing an additional 1,387 shares during the period. Anchor Capital Advisors LLC’s holdings in Magnolia Oil & Gas were worth $2,367,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of MGY. Soros Fund Management LLC purchased a new stake in shares of Magnolia Oil & Gas during the third quarter valued at $18,120,000. Barclays PLC lifted its position in Magnolia Oil & Gas by 62.5% during the 3rd quarter. Barclays PLC now owns 1,653,736 shares of the company’s stock worth $40,383,000 after acquiring an additional 636,049 shares during the period. State Street Corp grew its stake in Magnolia Oil & Gas by 4.2% during the 3rd quarter. State Street Corp now owns 10,700,257 shares of the company’s stock valued at $261,300,000 after purchasing an additional 435,326 shares during the last quarter. Centiva Capital LP increased its holdings in shares of Magnolia Oil & Gas by 767.6% in the third quarter. Centiva Capital LP now owns 487,148 shares of the company’s stock valued at $11,896,000 after purchasing an additional 430,996 shares during the period. Finally, Vest Financial LLC raised its stake in shares of Magnolia Oil & Gas by 39.0% in the fourth quarter. Vest Financial LLC now owns 1,521,004 shares of the company’s stock worth $35,561,000 after purchasing an additional 426,572 shares during the last quarter. Institutional investors and hedge funds own 94.73% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. 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. Mizuho increased their price objective on shares of Magnolia Oil & Gas from $27.00 to $28.00 and gave the stock a “neutral” rating in a research note on Monday, December 16th. 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 report on Monday, January 13th. Johnson Rice lowered shares of Magnolia Oil & Gas from a “moderate buy” rating to a “hold” rating in a report on Tuesday, January 28th. Finally, Piper Sandler lifted their price objective 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. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Magnolia Oil & Gas has a consensus rating of “Hold” and a consensus target price of $27.58.

Magnolia Oil & Gas Price Performance

Shares of Magnolia Oil & Gas stock opened at $23.40 on Friday. The firm has a market cap of $4.60 billion, a PE ratio of 12.12, a P/E/G ratio of 3.01 and a beta of 1.98. The business has a 50-day moving average price of $24.19 and a 200 day moving average price of $25.20. 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 Co. has a twelve month low of $22.37 and a twelve month high of $29.02.

Magnolia Oil & Gas (NYSE:MGY) last announced its earnings results on Tuesday, February 18th. The company reported $0.49 earnings per share for the quarter, topping the consensus estimate 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. Sell-side analysts predict that Magnolia Oil & Gas Co. will post 2.1 earnings per share for the current fiscal year.

Magnolia Oil & Gas Increases Dividend

The business also recently disclosed 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 represents a $0.60 annualized dividend and a yield of 2.56%. This is an increase from Magnolia Oil & Gas’s previous quarterly dividend of $0.13. The ex-dividend date is Friday, February 14th. Magnolia Oil & Gas’s dividend payout ratio (DPR) is presently 31.09%.

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.