Foster Victor Wealth Advisors LLC Has $7.35 Million Position in Magnolia Oil & Gas Co. (NYSE:MGY)

Foster Victor Wealth Advisors LLC increased its stake in shares of Magnolia Oil & Gas Co. (NYSE:MGY - Free Report) by 6.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 314,515 shares of the company's stock after purchasing an additional 19,777 shares during the quarter. Foster Victor Wealth Advisors LLC owned about 0.16% of Magnolia Oil & Gas worth $7,353,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of MGY. First Horizon Advisors Inc. boosted its position in Magnolia Oil & Gas by 64.7% in the 3rd quarter. First Horizon Advisors Inc. now owns 1,008 shares of the company's stock valued at $25,000 after buying an additional 396 shares during the last quarter. Albert D Mason Inc. increased its position in Magnolia Oil & Gas by 0.7% in the fourth quarter. Albert D Mason Inc. now owns 61,497 shares of the company's stock worth $1,438,000 after purchasing an additional 411 shares during the period. Jennison Associates LLC raised its holdings in Magnolia Oil & Gas by 2.2% during the 3rd quarter. Jennison Associates LLC now owns 23,836 shares of the company's stock worth $582,000 after purchasing an additional 506 shares during the last quarter. Avior Wealth Management LLC lifted 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 period. Finally, Atria Investments Inc boosted its stake in shares of Magnolia Oil & Gas by 2.3% in the 3rd quarter. Atria Investments Inc now owns 23,576 shares of the company's stock valued at $576,000 after purchasing an additional 523 shares during the last quarter. Institutional investors and hedge funds own 94.73% of the company's stock.

Magnolia Oil & Gas Stock Down 3.2 %

Shares of MGY stock traded down $0.80 during trading hours on Friday, hitting $23.71. 1,814,072 shares of the company were exchanged, compared to its average volume of 1,674,702. The company has a market capitalization of $4.66 billion, a PE ratio of 11.74, a PEG ratio of 3.12 and a beta of 2.00. Magnolia Oil & Gas Co. has a 52 week low of $19.53 and a 52 week high of $29.02. The business has a 50 day moving average of $25.15 and a two-hundred day moving average of $25.47. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.20.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last issued 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 return on equity of 20.78% and a net margin of 28.88%. Analysts anticipate that Magnolia Oil & Gas Co. will post 1.98 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently weighed in on MGY. Siebert Williams Shank downgraded shares of Magnolia Oil & Gas from a "buy" rating to a "hold" rating and set a $30.00 price target for the company. in a research note on Tuesday, October 15th. Mizuho increased their price target on Magnolia Oil & Gas from $27.00 to $28.00 and gave the company a "neutral" rating in a research note on Monday, December 16th. Truist Financial lifted 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, January 13th. Johnson Rice lowered Magnolia Oil & Gas from a "moderate buy" rating to a "hold" rating in a research note on Tuesday. Finally, Piper Sandler upped their price target on Magnolia Oil & Gas from $24.00 to $26.00 and gave the company a "neutral" rating in a research note on Wednesday. Two analysts have rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $27.58.

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.