Hsbc Holdings PLC increased its position in shares of Magnolia Oil & Gas Corp (NYSE:MGY – Free Report) by 153.3% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 132,456 shares of the company’s stock after purchasing an additional 80,168 shares during the period. Hsbc Holdings PLC’s holdings in Magnolia Oil & Gas were worth $4,202,000 as of its most recent SEC filing.
A number of other hedge funds have also recently added to or reduced their stakes in MGY. Foster Victor Wealth Advisors LLC grew its holdings in Magnolia Oil & Gas by 9.2% during the fourth quarter. Foster Victor Wealth Advisors LLC now owns 417,192 shares of the company’s stock worth $9,429,000 after acquiring an additional 35,223 shares during the period. Bessemer Group Inc. lifted its holdings in Magnolia Oil & Gas by 22.4% in the fourth quarter. Bessemer Group Inc. now owns 1,116,993 shares of the company’s stock valued at $24,452,000 after acquiring an additional 204,467 shares during the period. Diamond Hill Capital Management Inc. lifted its holdings in Magnolia Oil & Gas by 210.5% in the fourth quarter. Diamond Hill Capital Management Inc. now owns 414,817 shares of the company’s stock valued at $9,080,000 after acquiring an additional 281,234 shares during the period. TD Asset Management Inc lifted its holdings in Magnolia Oil & Gas by 26.6% in the fourth quarter. TD Asset Management Inc now owns 5,671,819 shares of the company’s stock valued at $124,156,000 after acquiring an additional 1,193,458 shares during the period. Finally, GW&K Investment Management LLC boosted its position in shares of Magnolia Oil & Gas by 14.6% during the 4th quarter. GW&K Investment Management LLC now owns 3,169,496 shares of the company’s stock worth $69,381,000 after purchasing an additional 404,402 shares in the last quarter. Institutional investors and hedge funds own 94.73% of the company’s stock.
Magnolia Oil & Gas Trading Down 1.7%
Shares of MGY opened at $25.33 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.10 and a quick ratio of 1.10. Magnolia Oil & Gas Corp has a 1-year low of $21.07 and a 1-year high of $32.76. The stock has a market cap of $4.69 billion, a price-to-earnings ratio of 14.73 and a beta of 0.70. The firm has a 50 day simple moving average of $27.03 and a 200-day simple moving average of $27.42.
Magnolia Oil & Gas Dividend Announcement
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. This represents a $0.66 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend was Tuesday, May 12th. Magnolia Oil & Gas’s payout ratio is 38.37%.
Analysts Set New Price Targets
A number of research firms have recently weighed in on MGY. KeyCorp reaffirmed an “overweight” rating on shares of Magnolia Oil & Gas in a research note on Monday, June 29th. Mizuho reduced their price objective on shares of Magnolia Oil & Gas from $35.00 to $33.00 and set an “outperform” rating for the company in a research note on Wednesday. Wells Fargo & Company decreased their price objective on shares of Magnolia Oil & Gas from $32.00 to $31.00 and set an “equal weight” rating on the stock in a report on Wednesday, May 13th. Truist Financial lowered their target price on shares of Magnolia Oil & Gas from $34.00 to $32.00 and set a “hold” rating on the stock in a research report on Tuesday, July 7th. Finally, Roth Capital dropped their target price on shares of Magnolia Oil & Gas from $30.00 to $29.00 and set a “buy” rating for the company in a report on Thursday. Eight investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target 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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