Argent Capital Management LLC boosted its holdings in Magnolia Oil & Gas Co. (NYSE:MGY - Free Report) by 36.7% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 53,720 shares of the company's stock after acquiring an additional 14,430 shares during the quarter. Argent Capital Management LLC's holdings in Magnolia Oil & Gas were worth $1,256,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. Harbor Capital Advisors Inc. bought a new position in shares of Magnolia Oil & Gas during the 3rd quarter valued at about $25,000. First Horizon Advisors Inc. increased its position 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 valued at $25,000 after purchasing an additional 396 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Magnolia Oil & Gas by 62.4% during the 3rd quarter. GAMMA Investing LLC now owns 2,609 shares of the company's stock valued at $64,000 after purchasing an additional 1,002 shares during the last quarter. Covestor Ltd increased its position in shares of Magnolia Oil & Gas by 36.8% during the 3rd quarter. Covestor Ltd now owns 2,986 shares of the company's stock valued at $73,000 after purchasing an additional 804 shares during the last quarter. Finally, Truvestments Capital LLC bought a new position in shares of Magnolia Oil & Gas during the 3rd quarter valued at about $90,000. 94.73% of the stock is currently owned by institutional investors.
Magnolia Oil & Gas Stock Up 0.1 %
NYSE:MGY traded up $0.02 during trading hours on Thursday, reaching $26.54. 1,596,394 shares of the company traded hands, compared to its average volume of 1,930,929. The business's 50-day moving average price is $25.63 and its two-hundred day moving average price is $25.51. The stock has a market capitalization of $5.22 billion, a P/E ratio of 13.14, a P/E/G ratio of 1.25 and a beta of 2.00. Magnolia Oil & Gas Co. has a 1 year low of $19.16 and a 1 year high of $29.02. 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 announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.52 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.48 by $0.04. Magnolia Oil & Gas had a return on equity of 20.78% and a net margin of 28.88%. The business had revenue of $333.14 million during the quarter, compared to analysts' expectations of $331.45 million. Analysts predict that Magnolia Oil & Gas Co. will post 2 earnings per share for the current year.
Magnolia Oil & Gas Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Friday, November 8th were paid a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 1.96%. The ex-dividend date of this dividend was Friday, November 8th. Magnolia Oil & Gas's dividend payout ratio is currently 25.74%.
Analyst Upgrades and Downgrades
MGY has been the subject of several analyst reports. Wells Fargo & Company cut Magnolia Oil & Gas from an "equal weight" rating to an "underweight" rating and dropped their target price for the company from $26.00 to $22.00 in a report on Tuesday, October 1st. Benchmark restated a "hold" rating on shares of Magnolia Oil & Gas in a report on Tuesday, October 15th. Bank of America restated 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. Mizuho increased their target price on Magnolia Oil & Gas from $27.00 to $28.00 and gave the company a "neutral" rating in a report on Monday, December 16th. Finally, Truist Financial increased their target price on Magnolia Oil & Gas from $33.00 to $34.00 and gave the company a "buy" rating in a report on Monday. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $27.58.
Get Our Latest Analysis on Magnolia Oil & Gas
About Magnolia Oil & Gas
(
Free Report)
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.
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