Wedge Capital Management L L P NC Has $5.44 Million Stock Holdings in Magnolia Oil & Gas Co. (NYSE:MGY)

Wedge Capital Management L L P NC raised its stake in shares of Magnolia Oil & Gas Co. (NYSE:MGY) by 3.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 255,438 shares of the company’s stock after purchasing an additional 9,233 shares during the period. Wedge Capital Management L L P NC owned 0.12% of Magnolia Oil & Gas worth $5,438,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. VisionPoint Advisory Group LLC lifted its position in Magnolia Oil & Gas by 112.3% in the third quarter. VisionPoint Advisory Group LLC now owns 1,537 shares of the company’s stock worth $35,000 after purchasing an additional 813 shares during the period. Arlington Trust Co LLC bought a new position in Magnolia Oil & Gas in the 4th quarter worth approximately $113,000. Signaturefd LLC raised its position in shares of Magnolia Oil & Gas by 6.7% during the third quarter. Signaturefd LLC now owns 8,325 shares of the company’s stock worth $191,000 after acquiring an additional 523 shares during the last quarter. Fulton Bank N.A. bought a new position in Magnolia Oil & Gas in the fourth quarter valued at about $213,000. Finally, Truvestments Capital LLC lifted its position in Magnolia Oil & Gas by 21.2% during the 3rd quarter. Truvestments Capital LLC now owns 10,992 shares of the company’s stock valued at $252,000 after purchasing an additional 1,920 shares during the period. Institutional investors and hedge funds own 94.73% of the company’s stock.

Magnolia Oil & Gas Stock Up 1.0 %

MGY stock opened at $25.99 on Wednesday. The firm has a market capitalization of $5.31 billion, a PE ratio of 12.68, a PEG ratio of 1.57 and a beta of 2.05. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.21. The business’s 50 day simple moving average is $24.38 and its 200 day simple moving average is $22.45. Magnolia Oil & Gas Co. has a 1-year low of $18.72 and a 1-year high of $27.33.

Magnolia Oil & Gas (NYSE:MGY) last announced its quarterly earnings data on Wednesday, February 14th. The company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.04). The company 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, research analysts anticipate 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. Shareholders of record on Friday, February 16th were given a $0.13 dividend. This is an increase from Magnolia Oil & Gas’s previous quarterly dividend of $0.12. This represents a $0.52 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date was Thursday, February 15th. Magnolia Oil & Gas’s dividend payout ratio (DPR) is currently 25.37%.

Analyst Upgrades and Downgrades

A number of research firms have commented on MGY. Mizuho lifted their target price 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. The Goldman Sachs Group raised their target price on Magnolia Oil & Gas from $24.50 to $28.00 and gave the stock a “buy” rating in a report on Tuesday, March 26th. Bank of America started coverage on shares of Magnolia Oil & Gas in a report on Tuesday, February 27th. They set a “buy” rating and a $25.00 price objective for the company. Truist Financial increased their target price on shares of Magnolia Oil & Gas from $32.00 to $33.00 and gave the stock a “buy” rating in a report on Friday, February 16th. Finally, Citigroup upped their price objective on shares of Magnolia Oil & Gas from $18.00 to $22.00 and gave the company a “sell” rating in a research report on Monday, April 15th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $27.63.

Magnolia Oil & Gas 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.