Wedge Capital Management L L P NC Purchases 9,233 Shares of Magnolia Oil & Gas Co. (NYSE:MGY)

Wedge Capital Management L L P NC grew its holdings in Magnolia Oil & Gas Co. (NYSE:MGY) by 3.8% in the 4th quarter, HoldingsChannel reports. The firm owned 255,438 shares of the company’s stock after buying an additional 9,233 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Magnolia Oil & Gas were worth $5,438,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Signaturefd LLC grew its stake in Magnolia Oil & Gas by 11.9% in the fourth quarter. Signaturefd LLC now owns 9,313 shares of the company’s stock valued at $198,000 after purchasing an additional 988 shares during the last quarter. Knights of Columbus Asset Advisors LLC boosted its holdings in shares of Magnolia Oil & Gas by 50.0% in the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 367,183 shares of the company’s stock valued at $7,817,000 after buying an additional 122,371 shares in the last quarter. Oak Family Advisors LLC raised its stake in shares of Magnolia Oil & Gas by 1.6% during the 4th quarter. Oak Family Advisors LLC now owns 80,587 shares of the company’s stock worth $1,716,000 after acquiring an additional 1,275 shares in the last quarter. Phocas Financial Corp. lifted its position in Magnolia Oil & Gas by 2.0% during the fourth quarter. Phocas Financial Corp. now owns 131,894 shares of the company’s stock valued at $2,808,000 after acquiring an additional 2,592 shares during the last quarter. Finally, Cerity Partners LLC acquired a new stake in Magnolia Oil & Gas in the fourth quarter valued at approximately $267,000. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on MGY shares. Benchmark restated a “hold” rating on shares of Magnolia Oil & Gas in a research note on Tuesday. Truist Financial lifted their target price on shares of Magnolia Oil & Gas from $32.00 to $33.00 and gave the stock a “buy” rating in a research note on Friday, February 16th. Mizuho raised their price target on shares of Magnolia Oil & Gas from $24.00 to $26.00 and gave the stock a “neutral” rating in a report on Thursday, March 14th. Wells Fargo & Company upped their target price on Magnolia Oil & Gas from $23.00 to $27.00 and gave the company an “equal weight” rating in a research report on Thursday, April 18th. Finally, Citigroup increased their price objective on Magnolia Oil & Gas from $18.00 to $22.00 and gave the company a “sell” rating in a report on Monday, April 15th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Magnolia Oil & Gas currently has an average rating of “Hold” and a consensus target price of $27.63.

Magnolia Oil & Gas Stock Up 1.0 %

Shares of MGY stock opened at $25.99 on Wednesday. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.21. Magnolia Oil & Gas Co. has a twelve month low of $18.72 and a twelve month high of $27.33. The stock has a 50 day moving average of $24.38 and a 200 day moving average of $22.45. The stock has a market cap of $5.31 billion, a P/E ratio of 12.68, a P/E/G ratio of 1.57 and a beta of 2.05.

Magnolia Oil & Gas (NYSE:MGY) last posted its earnings results on Wednesday, February 14th. The company reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.04). The firm had revenue of $322.63 million during the quarter, compared to analyst estimates of $324.95 million. Magnolia Oil & Gas had a net margin of 31.65% and a return on equity of 21.21%. As a group, sell-side analysts expect that Magnolia Oil & Gas Co. will post 2.09 EPS for the current year.

Magnolia Oil & Gas Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 16th were paid a dividend of $0.13 per share. 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 dividend yield of 2.00%. The ex-dividend date was Thursday, February 15th. Magnolia Oil & Gas’s dividend payout ratio is presently 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.