Magnolia Oil & Gas Co. (NYSE:MGY) Shares Acquired by Argent Capital Management LLC

Argent Capital Management LLC boosted its stake in shares of Magnolia Oil & Gas Co. (NYSE:MGY) by 36.7% in the fourth quarter, HoldingsChannel reports. The firm owned 53,720 shares of the company’s stock after purchasing an additional 14,430 shares during the quarter. Argent Capital Management LLC’s holdings in Magnolia Oil & Gas were worth $1,256,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. First Horizon Advisors Inc. boosted its position in Magnolia Oil & Gas by 64.7% during the 3rd quarter. First Horizon Advisors Inc. now owns 1,008 shares of the company’s stock valued at $25,000 after purchasing an additional 396 shares during the period. Jennison Associates LLC raised its stake in Magnolia Oil & Gas by 2.2% during the 3rd quarter. Jennison Associates LLC now owns 23,836 shares of the company’s stock valued at $582,000 after acquiring an additional 506 shares in the last quarter. Atria Investments Inc raised its stake in Magnolia Oil & Gas by 2.3% during the 3rd quarter. Atria Investments Inc now owns 23,576 shares of the company’s stock valued at $576,000 after acquiring an additional 523 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in Magnolia Oil & Gas by 1.0% during the 3rd quarter. PNC Financial Services Group Inc. now owns 52,834 shares of the company’s stock valued at $1,290,000 after acquiring an additional 548 shares in the last quarter. Finally, Bank of Montreal Can raised its stake in Magnolia Oil & Gas by 1.8% during the 2nd quarter. Bank of Montreal Can now owns 36,716 shares of the company’s stock valued at $931,000 after acquiring an additional 640 shares in the last quarter. Institutional investors and hedge funds own 94.73% of the company’s stock.

Wall Street Analysts Forecast Growth

MGY has been the topic of several recent analyst reports. Bank of America reaffirmed a “neutral” rating and set a $28.00 target price (down previously from $29.00) on shares of Magnolia Oil & Gas in a research note on Monday. Siebert Williams Shank downgraded Magnolia Oil & Gas from a “buy” rating to a “hold” rating and set a $30.00 target price on the stock. in a research note on Tuesday, October 15th. Piper Sandler dropped their price objective on Magnolia Oil & Gas from $26.00 to $24.00 and set a “neutral” rating on the stock in a research note on Tuesday, December 17th. Truist Financial boosted their price objective on Magnolia Oil & Gas from $33.00 to $34.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Mizuho boosted their price objective on Magnolia Oil & Gas from $27.00 to $28.00 and gave the stock a “neutral” rating in a research note on Monday, December 16th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Magnolia Oil & Gas has a consensus rating of “Hold” and a consensus target price of $27.58.

Magnolia Oil & Gas Price Performance

NYSE MGY opened at $26.53 on Thursday. The firm has a market capitalization of $5.21 billion, a price-to-earnings ratio of 13.13, a price-to-earnings-growth ratio of 1.25 and a beta of 2.00. The company has a 50 day simple moving average of $25.63 and a 200-day simple moving average of $25.51. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.47 and a quick ratio of 1.47. Magnolia Oil & Gas Co. has a 52-week low of $19.16 and a 52-week high of $29.02.

Magnolia Oil & Gas (NYSE:MGY) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.04. The company had revenue of $333.14 million for the quarter, compared to analyst estimates of $331.45 million. Magnolia Oil & Gas had a net margin of 28.88% and a return on equity of 20.78%. Equities research analysts predict that Magnolia Oil & Gas Co. will post 2 earnings per share for the current fiscal year.

Magnolia Oil & Gas Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Friday, November 8th were issued a dividend of $0.13 per share. The ex-dividend date was Friday, November 8th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.96%. Magnolia Oil & Gas’s payout ratio is presently 25.74%.

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.