Isthmus Partners LLC Acquires 460 Shares of Magnolia Oil & Gas Co. (NYSE:MGY)

Isthmus Partners LLC boosted its position in shares of Magnolia Oil & Gas Co. (NYSE:MGY) by 5.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 9,320 shares of the company’s stock after purchasing an additional 460 shares during the quarter. Isthmus Partners LLC’s holdings in Magnolia Oil & Gas were worth $218,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of MGY. First Horizon Advisors Inc. grew 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 last quarter. Mather Group LLC. grew its position in Magnolia Oil & Gas by 100.0% during the 4th quarter. Mather Group LLC. now owns 1,090 shares of the company’s stock valued at $25,000 after purchasing an additional 545 shares during the last quarter. Larson Financial Group LLC grew its position in Magnolia Oil & Gas by 112.3% during the 4th 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 during the last quarter. R Squared Ltd purchased a new stake in Magnolia Oil & Gas during the 4th quarter valued at about $43,000. Finally, Avior Wealth Management LLC grew its position in Magnolia Oil & Gas by 30.0% during the 4th quarter. Avior Wealth Management LLC now owns 2,194 shares of the company’s stock valued at $51,000 after purchasing an additional 506 shares during the last quarter. 94.73% of the stock is owned by hedge funds and other institutional investors.

Magnolia Oil & Gas Stock Performance

Shares of NYSE MGY opened at $23.63 on Tuesday. The firm has a 50 day moving average of $24.17 and a 200 day moving average of $25.11. The company has a current ratio of 1.42, a quick ratio of 1.47 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $4.59 billion, a price-to-earnings ratio of 12.24, a price-to-earnings-growth ratio of 3.01 and a beta of 1.90. Magnolia Oil & Gas Co. has a 12-month low of $21.63 and a 12-month high of $29.02.

Magnolia Oil & Gas (NYSE:MGY) last announced its earnings results on Tuesday, February 18th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.03. The company had revenue of $326.61 million during the quarter, compared to analyst estimates of $327.40 million. Magnolia Oil & Gas had a net margin of 27.82% and a return on equity of 20.74%. On average, research analysts anticipate that Magnolia Oil & Gas Co. will post 2.1 earnings per share for the current year.

Magnolia Oil & Gas Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.60 annualized dividend and a yield of 2.54%. This is an increase from Magnolia Oil & Gas’s previous quarterly dividend of $0.13. Magnolia Oil & Gas’s payout ratio is currently 31.09%.

Insider Buying and Selling at Magnolia Oil & Gas

In other news, CEO Christopher G. Stavros purchased 2,500 shares of the stock in a transaction on Monday, March 3rd. The shares were acquired at an average price of $22.05 per share, with a total value of $55,125.00. Following the completion of the acquisition, the chief executive officer now directly owns 892,372 shares of the company’s stock, valued at $19,676,802.60. This trade represents a 0.28 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 1.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on MGY. The Goldman Sachs Group downgraded shares of Magnolia Oil & Gas from a “buy” rating to a “neutral” rating and cut their price objective for the company from $27.00 to $26.00 in a research report on Friday, January 31st. Williams Trading set a $29.00 price target on shares of Magnolia Oil & Gas in a report on Wednesday, March 5th. Mizuho lifted their price target on shares of Magnolia Oil & Gas from $27.00 to $28.00 and gave the stock a “neutral” rating in a research note on Monday, December 16th. Piper Sandler lifted their price target on shares of Magnolia Oil & Gas from $24.00 to $26.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. Finally, Johnson Rice lowered shares of Magnolia Oil & Gas from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, January 28th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $27.69.

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.