Magnolia Oil & Gas Co. (NYSE:MGY) Stake Increased by Vista Finance LLC

Vista Finance LLC grew its holdings in Magnolia Oil & Gas Co. (NYSE:MGY) by 7.0% in the first quarter, Holdings Channel.com reports. The firm owned 11,663 shares of the company’s stock after purchasing an additional 759 shares during the period. Vista Finance LLC’s holdings in Magnolia Oil & Gas were worth $295,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Larson Financial Group LLC lifted its holdings in shares of Magnolia Oil & Gas by 112.3% in the fourth quarter. Larson Financial Group LLC now owns 1,072 shares of the company’s stock valued at $25,000 after purchasing an additional 567 shares in the last quarter. Quarry LP raised its holdings in shares of Magnolia Oil & Gas by 1,047.8% during the fourth quarter. Quarry LP now owns 2,135 shares of the company’s stock worth $50,000 after acquiring an additional 1,949 shares in the last quarter. Parallel Advisors LLC raised its holdings in shares of Magnolia Oil & Gas by 122.8% during the first quarter. Parallel Advisors LLC now owns 2,308 shares of the company’s stock worth $58,000 after acquiring an additional 1,272 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of Magnolia Oil & Gas by 95.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 3,777 shares of the company’s stock worth $88,000 after acquiring an additional 1,844 shares in the last quarter. Finally, Venturi Wealth Management LLC purchased a new stake in shares of Magnolia Oil & Gas during the fourth quarter worth $102,000. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Analyst Upgrades and Downgrades

MGY has been the subject of several recent research reports. Williams Trading set a $29.00 price objective on Magnolia Oil & Gas in a report on Wednesday, March 5th. Bank of America increased their price objective on Magnolia Oil & Gas from $23.00 to $25.00 and gave the stock a “neutral” rating in a report on Friday, May 23rd. Citigroup cut their price objective on Magnolia Oil & Gas from $22.00 to $19.00 and set a “sell” rating for the company in a report on Tuesday, April 8th. UBS Group increased their price objective on Magnolia Oil & Gas from $26.00 to $29.00 and gave the stock a “buy” rating in a report on Friday. Finally, Piper Sandler cut their price objective on Magnolia Oil & Gas from $25.00 to $24.00 and set a “neutral” rating for the company in a report on Tuesday, May 13th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $27.08.

Magnolia Oil & Gas Price Performance

NYSE MGY opened at $24.13 on Friday. Magnolia Oil & Gas Co. has a fifty-two week low of $19.09 and a fifty-two week high of $29.02. The stock’s 50-day moving average is $21.75 and its two-hundred day moving average is $23.46. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.42 and a quick ratio of 1.47. The firm has a market cap of $4.64 billion, a P/E ratio of 12.50, a price-to-earnings-growth ratio of 3.01 and a beta of 1.29.

Magnolia Oil & Gas (NYSE:MGY) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.02. The company had revenue of $350.30 million for the quarter, compared to the consensus estimate of $337.83 million. Magnolia Oil & Gas had a return on equity of 20.74% and a net margin of 27.82%. The firm’s revenue was up 9.7% compared to the same quarter last year. During the same period last year, the business posted $0.46 earnings per share. On average, analysts anticipate that Magnolia Oil & Gas Co. will post 2.1 earnings per share for the current fiscal year.

Magnolia Oil & Gas Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 12th were given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 2.49%. The ex-dividend date of this dividend was Monday, May 12th. Magnolia Oil & Gas’s dividend payout ratio is currently 29.85%.

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.