Charles Schwab Investment Management Inc. Has $48.55 Million Holdings in Magnolia Oil & Gas Co. (NYSE:MGY)

Charles Schwab Investment Management Inc. lifted its holdings in shares of Magnolia Oil & Gas Co. (NYSE:MGY - Free Report) by 4.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,076,541 shares of the company's stock after buying an additional 85,524 shares during the period. Charles Schwab Investment Management Inc. owned about 1.06% of Magnolia Oil & Gas worth $48,550,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. First Horizon Advisors Inc. boosted its stake in shares of Magnolia Oil & Gas by 64.7% during the 3rd quarter. First Horizon Advisors Inc. now owns 1,008 shares of the company's stock worth $25,000 after buying an additional 396 shares during the last quarter. Mather Group LLC. lifted 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 valued at $25,000 after purchasing an additional 545 shares during the last quarter. R Squared Ltd acquired a new stake in Magnolia Oil & Gas in the 4th quarter valued at about $43,000. Avior Wealth Management LLC lifted its stake in Magnolia Oil & Gas by 30.0% in 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. Finally, Truvestments Capital LLC acquired a new stake in Magnolia Oil & Gas in the 3rd quarter valued at about $90,000. 94.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently issued reports on MGY. Piper Sandler raised 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 note on Wednesday, January 29th. Williams Trading set a $29.00 price target on shares of Magnolia Oil & Gas in a report on Wednesday, March 5th. Truist Financial increased their price target on shares of Magnolia Oil & Gas from $33.00 to $34.00 and gave the company a "buy" rating in a report on Monday, January 13th. Bank of America reaffirmed a "neutral" rating and set a $28.00 target price (down from $29.00) on shares of Magnolia Oil & Gas in a report on Monday, January 13th. Finally, The Goldman Sachs Group cut shares of Magnolia Oil & Gas from a "buy" rating to a "neutral" rating and lowered their target price for the stock from $27.00 to $26.00 in a report on Friday, January 31st. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $27.77.

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Magnolia Oil & Gas Price Performance

NYSE:MGY traded up $0.30 during mid-day trading on Tuesday, reaching $24.02. The stock had a trading volume of 2,601,846 shares, compared to its average volume of 2,082,627. Magnolia Oil & Gas Co. has a 12 month low of $21.63 and a 12 month high of $29.02. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.42 and a quick ratio of 1.47. The stock has a market capitalization of $4.66 billion, a PE ratio of 12.45, a P/E/G ratio of 3.01 and a beta of 1.90. The stock has a 50-day simple moving average of $24.12 and a two-hundred day simple moving average of $25.03.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last issued its earnings results on Tuesday, February 18th. The company reported $0.49 earnings per share for the quarter, beating 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 firm had revenue of $326.61 million for the quarter, compared to analyst estimates of $327.40 million. On average, equities analysts anticipate that Magnolia Oil & Gas Co. will post 2.1 earnings per share for the current year.

Magnolia Oil & Gas Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were given a $0.15 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.60 dividend on an annualized basis and a yield of 2.50%. This is a positive change from Magnolia Oil & Gas's previous quarterly dividend of $0.13. Magnolia Oil & Gas's dividend payout ratio (DPR) is currently 31.09%.

Insider Buying and Selling at Magnolia Oil & Gas

In related news, CEO Christopher G. Stavros bought 2,500 shares of the business's stock in a transaction on Monday, March 3rd. The shares were purchased at an average price of $22.05 per share, for a total transaction of $55,125.00. Following the completion of the transaction, the chief executive officer now directly owns 892,372 shares of the company's stock, valued at approximately $19,676,802.60. This represents a 0.28 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 1.20% of the company's stock.

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.