Legato Capital Management LLC Buys Shares of 11,817 Magnolia Oil & Gas Co. (NYSE:MGY)

Legato Capital Management LLC purchased a new position in Magnolia Oil & Gas Co. (NYSE:MGY - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 11,817 shares of the company's stock, valued at approximately $276,000.

Several other institutional investors have also recently made changes to their positions in the company. Harbor Capital Advisors Inc. bought a new position in Magnolia Oil & Gas in the third quarter valued at $25,000. First Horizon Advisors Inc. increased its stake in Magnolia Oil & Gas by 64.7% in the third quarter. First Horizon Advisors Inc. now owns 1,008 shares of the company's stock valued at $25,000 after acquiring an additional 396 shares during the last quarter. Mather Group LLC. increased its stake in Magnolia Oil & Gas by 100.0% in the fourth quarter. Mather Group LLC. now owns 1,090 shares of the company's stock valued at $25,000 after acquiring an additional 545 shares during the last quarter. R Squared Ltd bought a new position in Magnolia Oil & Gas in the fourth quarter valued at $43,000. Finally, Avior Wealth Management LLC increased its stake in Magnolia Oil & Gas by 30.0% in the fourth quarter. Avior Wealth Management LLC now owns 2,194 shares of the company's stock valued at $51,000 after acquiring an additional 506 shares during the last quarter. Institutional investors own 94.73% of the company's stock.

Wall Street Analyst Weigh In

MGY has been the topic of a number of research analyst reports. Piper Sandler increased their target price on Magnolia Oil & Gas from $24.00 to $26.00 and gave the company a "neutral" rating in a research note on Wednesday, January 29th. The Goldman Sachs Group lowered shares of Magnolia Oil & Gas from a "buy" rating to a "neutral" rating and cut their price target for the company from $27.00 to $26.00 in a research report on Friday, January 31st. Johnson Rice lowered shares of Magnolia Oil & Gas from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, January 28th. Truist Financial upped their price target on shares of Magnolia Oil & Gas from $33.00 to $34.00 and gave the company a "buy" rating in a research report on Monday, January 13th. Finally, Bank of America restated a "neutral" rating and set a $28.00 price target (down from $29.00) on shares of Magnolia Oil & Gas in a research report on Monday, January 13th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $27.58.

Magnolia Oil & Gas Stock Up 2.1 %

MGY traded up $0.49 on Tuesday, hitting $23.99. The company had a trading volume of 814,818 shares, compared to its average volume of 1,783,016. 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 $21.07 and a 52-week high of $29.02. The stock has a fifty day simple moving average of $24.34 and a 200-day simple moving average of $25.23. The firm has a market capitalization of $4.71 billion, a P/E ratio of 11.87, a P/E/G ratio of 2.85 and a beta of 1.98.

Magnolia Oil & Gas Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Friday, February 14th will be paid a dividend of $0.15 per share. This is an increase from Magnolia Oil & Gas's previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Friday, February 14th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.50%. Magnolia Oil & Gas's dividend payout ratio (DPR) is currently 25.74%.

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.