Mitsubishi UFJ Trust & Banking Corp Buys 3,582 Shares of Magnolia Oil & Gas Co. (NYSE:MGY)

Mitsubishi UFJ Trust & Banking Corp increased its stake in shares of Magnolia Oil & Gas Co. (NYSE:MGY) by 11.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 35,725 shares of the company’s stock after acquiring an additional 3,582 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Magnolia Oil & Gas were worth $835,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of MGY. Albert D Mason Inc. grew its position in shares of Magnolia Oil & Gas by 0.7% during the fourth quarter. Albert D Mason Inc. now owns 61,497 shares of the company’s stock valued at $1,438,000 after purchasing an additional 411 shares in the last quarter. Isthmus Partners LLC grew its holdings in Magnolia Oil & Gas by 5.2% during the 4th quarter. Isthmus Partners LLC now owns 9,320 shares of the company’s stock valued at $218,000 after buying an additional 460 shares in the last quarter. Avior Wealth Management LLC grew its holdings 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 buying an additional 506 shares in the last quarter. Mather Group LLC. increased its stake in Magnolia Oil & Gas by 100.0% in the 4th quarter. Mather Group LLC. now owns 1,090 shares of the company’s stock worth $25,000 after acquiring an additional 545 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in shares of Magnolia Oil & Gas by 1.4% during the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 40,783 shares of the company’s stock worth $954,000 after acquiring an additional 564 shares in the last quarter. 94.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MGY has been the subject of a number of recent research reports. JPMorgan Chase & Co. cut their target price on shares of Magnolia Oil & Gas from $28.00 to $24.00 and set a “neutral” rating for the company in a report on Thursday, March 13th. Piper Sandler upped their target price on shares of Magnolia Oil & Gas from $24.00 to $26.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Williams Trading set a $29.00 price target on Magnolia Oil & Gas in a research report on Wednesday, March 5th. Bank of America restated a “neutral” rating and set a $28.00 price objective (down from $29.00) on shares of Magnolia Oil & Gas in a research report on Monday, January 13th. Finally, The Goldman Sachs Group cut Magnolia Oil & Gas from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $27.00 to $26.00 in a report on Friday, January 31st. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Magnolia Oil & Gas currently has a consensus rating of “Hold” and a consensus price target of $27.77.

Magnolia Oil & Gas Stock Up 1.0 %

Shares of MGY opened at $25.52 on Wednesday. The firm has a market capitalization of $4.96 billion, a P/E ratio of 13.22, a P/E/G 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. The firm has a fifty day moving average price of $24.04 and a 200-day moving average price 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.

Magnolia Oil & Gas (NYSE:MGY) last issued its earnings results on Tuesday, February 18th. The company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.03. Magnolia Oil & Gas had a net margin of 27.82% and a return on equity of 20.74%. The business had revenue of $326.61 million for the quarter, compared to the consensus estimate of $327.40 million. Equities research analysts expect 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 disclosed 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. This is an increase from Magnolia Oil & Gas’s previous quarterly dividend of $0.13. This represents a $0.60 annualized dividend and a yield of 2.35%. The ex-dividend date was Friday, February 14th. Magnolia Oil & Gas’s dividend payout ratio (DPR) is presently 31.09%.

Insider Buying and Selling at Magnolia Oil & Gas

In other Magnolia Oil & Gas news, CEO Christopher G. Stavros purchased 2,500 shares of Magnolia Oil & Gas stock in a transaction dated Monday, March 3rd. The stock was acquired at an average price of $22.05 per share, for a total transaction of $55,125.00. Following the acquisition, the chief executive officer now owns 892,372 shares in the company, valued at $19,676,802.60. This trade represents a 0.28 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.20% of the stock is currently owned by corporate insiders.

About Magnolia Oil & Gas

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.