Dynamic Technology Lab Private Ltd bought a new stake in Magnolia Oil & Gas Corp (NYSE:MGY – Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 79,056 shares of the company’s stock, valued at approximately $1,731,000.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Salomon & Ludwin LLC raised its stake in shares of Magnolia Oil & Gas by 130.1% in the fourth quarter. Salomon & Ludwin LLC now owns 1,344 shares of the company’s stock valued at $29,000 after acquiring an additional 760 shares during the period. EverSource Wealth Advisors LLC raised its stake in shares of Magnolia Oil & Gas by 165.5% in the second quarter. EverSource Wealth Advisors LLC now owns 1,386 shares of the company’s stock valued at $31,000 after acquiring an additional 864 shares during the period. Torren Management LLC purchased a new stake in shares of Magnolia Oil & Gas in the fourth quarter valued at $38,000. Parallel Advisors LLC raised its stake in shares of Magnolia Oil & Gas by 79.8% in the fourth quarter. Parallel Advisors LLC now owns 1,769 shares of the company’s stock valued at $39,000 after acquiring an additional 785 shares during the period. Finally, First Horizon Corp raised its stake in shares of Magnolia Oil & Gas by 159.8% in the fourth quarter. First Horizon Corp now owns 1,889 shares of the company’s stock valued at $41,000 after acquiring an additional 1,162 shares during the period. Hedge funds and other institutional investors own 94.73% of the company’s stock.
Magnolia Oil & Gas Trading Up 1.3%
NYSE MGY opened at $27.59 on Friday. The company’s 50-day moving average price is $28.92 and its 200-day moving average price is $26.65. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.19. The stock has a market cap of $5.10 billion, a PE ratio of 16.04 and a beta of 0.71. Magnolia Oil & Gas Corp has a 12 month low of $21.07 and a 12 month high of $32.76.
Magnolia Oil & Gas Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Tuesday, May 12th were issued a $0.165 dividend. The ex-dividend date was Tuesday, May 12th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 2.4%. Magnolia Oil & Gas’s dividend payout ratio is presently 38.37%.
Analysts Set New Price Targets
Several equities research analysts have recently weighed in on the stock. Roth Mkm reissued a “neutral” rating and issued a $32.00 target price (up from $29.00) on shares of Magnolia Oil & Gas in a research note on Wednesday, April 8th. Siebert Williams Shank downgraded shares of Magnolia Oil & Gas from a “buy” rating to a “hold” rating in a research note on Friday, March 6th. Piper Sandler increased their target price on shares of Magnolia Oil & Gas from $28.00 to $31.00 and gave the company a “neutral” rating in a research note on Thursday, March 12th. Weiss Ratings downgraded shares of Magnolia Oil & Gas from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, May 21st. Finally, Mizuho upped their price target on shares of Magnolia Oil & Gas from $33.00 to $35.00 and gave the stock an “outperform” rating in a report on Wednesday, May 27th. Seven research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat, Magnolia Oil & Gas currently has an average rating of “Hold” and an average target price of $31.42.
Get Our Latest Stock Analysis on MGY
Magnolia Oil & Gas Company Profile
Magnolia Oil & Gas Corp (NYSE: MGY) is an independent exploration and production company focused on the acquisition, development and optimization of onshore oil and gas assets in South Texas. Headquartered in Houston, the company concentrates its efforts on the Eagle Ford Shale, where it holds significant working interests in key producing counties.
The company’s core operations center on horizontal drilling and multi-stage completions designed to extract light crude oil, natural gas and natural gas liquids (NGLs).
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