Anchor Capital Advisors LLC Purchases 25,641 Shares of Magnolia Oil & Gas Co. (NYSE:MGY)

Anchor Capital Advisors LLC raised its stake in Magnolia Oil & Gas Co. (NYSE:MGY) by 37.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 93,279 shares of the company’s stock after acquiring an additional 25,641 shares during the quarter. Anchor Capital Advisors LLC’s holdings in Magnolia Oil & Gas were worth $1,986,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of MGY. Russell Investments Group Ltd. raised its holdings in Magnolia Oil & Gas by 72.9% during the fourth quarter. Russell Investments Group Ltd. now owns 264,677 shares of the company’s stock worth $5,635,000 after buying an additional 111,558 shares during the last quarter. Truist Financial Corp raised its position in shares of Magnolia Oil & Gas by 1.3% in the fourth quarter. Truist Financial Corp now owns 122,272 shares of the company’s stock valued at $2,603,000 after purchasing an additional 1,521 shares during the period. Meritage Portfolio Management increased its position in shares of Magnolia Oil & Gas by 3.1% during the fourth quarter. Meritage Portfolio Management now owns 55,384 shares of the company’s stock valued at $1,179,000 after buying an additional 1,644 shares during the period. California Public Employees Retirement System boosted its holdings in Magnolia Oil & Gas by 3.3% in the 4th quarter. California Public Employees Retirement System now owns 341,172 shares of the company’s stock valued at $7,264,000 after purchasing an additional 10,965 shares during the period. Finally, Wedge Capital Management L L P NC grew its holdings in shares of Magnolia Oil & Gas by 3.8% during the fourth quarter. Wedge Capital Management L L P NC now owns 255,438 shares of the company’s stock worth $5,438,000 after purchasing an additional 9,233 shares in the last quarter. Institutional investors own 94.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on MGY. Truist Financial upped their price objective on shares of Magnolia Oil & Gas from $32.00 to $33.00 and gave the company a “buy” rating in a research note on Friday, February 16th. Piper Sandler reiterated a “neutral” rating and issued a $29.00 target price on shares of Magnolia Oil & Gas in a research note on Friday, April 19th. Bank of America initiated coverage on shares of Magnolia Oil & Gas in a report on Tuesday, February 27th. They issued a “buy” rating and a $25.00 price objective for the company. Benchmark restated a “hold” rating on shares of Magnolia Oil & Gas in a report on Tuesday, April 23rd. Finally, The Goldman Sachs Group lifted their target price on Magnolia Oil & Gas from $24.50 to $28.00 and gave the company a “buy” rating in a research report on Tuesday, March 26th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Magnolia Oil & Gas currently has a consensus rating of “Hold” and a consensus target price of $27.63.

Magnolia Oil & Gas Trading Down 3.0 %

Shares of NYSE:MGY traded down $0.78 during trading on Tuesday, reaching $25.66. The company’s stock had a trading volume of 276,629 shares, compared to its average volume of 3,125,737. Magnolia Oil & Gas Co. has a 12 month low of $18.72 and a 12 month high of $27.33. The stock has a market capitalization of $5.24 billion, a PE ratio of 12.90, a price-to-earnings-growth ratio of 1.61 and a beta of 2.05. The firm’s 50 day simple moving average is $24.80 and its two-hundred day simple moving average is $22.55. 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 (NYSE:MGY) last released its quarterly earnings results on Wednesday, February 14th. The company reported $0.50 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.04). Magnolia Oil & Gas had a net margin of 31.65% and a return on equity of 21.21%. The firm had revenue of $322.63 million for the quarter, compared to analysts’ expectations of $324.95 million. On average, research analysts predict that Magnolia Oil & Gas Co. will post 2.09 EPS for the current fiscal year.

Magnolia Oil & Gas Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 16th were issued a dividend of $0.13 per share. This is a boost from Magnolia Oil & Gas’s previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a dividend yield of 2.03%. The ex-dividend date of this dividend was Thursday, February 15th. Magnolia Oil & Gas’s payout ratio is currently 25.37%.

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.