Vest Financial LLC Purchases 426,572 Shares of Magnolia Oil & Gas Co. (NYSE:MGY)

Vest Financial LLC boosted its holdings in Magnolia Oil & Gas Co. (NYSE:MGY - Free Report) by 39.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,521,004 shares of the company's stock after purchasing an additional 426,572 shares during the quarter. Vest Financial LLC owned about 0.77% of Magnolia Oil & Gas worth $35,561,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of MGY. Harbor Capital Advisors Inc. purchased a new stake in Magnolia Oil & Gas in the third quarter worth about $25,000. First Horizon Advisors Inc. grew its holdings 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 worth $25,000 after purchasing an additional 396 shares during the period. Mather Group LLC. grew its holdings in shares of Magnolia Oil & Gas by 100.0% during the fourth quarter. Mather Group LLC. now owns 1,090 shares of the company's stock valued at $25,000 after buying an additional 545 shares during the last quarter. R Squared Ltd purchased a new stake in shares of Magnolia Oil & Gas during the fourth quarter valued at approximately $43,000. Finally, Avior Wealth Management LLC grew its holdings in shares of Magnolia Oil & Gas by 30.0% during the fourth 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 during the last quarter. Hedge funds and other institutional investors own 94.73% of the company's stock.

Magnolia Oil & Gas Stock Performance

MGY traded down $0.83 during trading on Wednesday, hitting $22.99. The company's stock had a trading volume of 1,504,856 shares, compared to its average volume of 1,795,045. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.20. Magnolia Oil & Gas Co. has a one year low of $20.08 and a one year high of $29.02. The firm has a market cap of $4.52 billion, a PE ratio of 11.38, a P/E/G ratio of 2.85 and a beta of 1.98. The business's 50 day simple moving average is $24.50 and its 200-day simple moving average is $25.30.

Magnolia Oil & Gas Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Friday, February 14th will be given a $0.15 dividend. The ex-dividend date of this dividend is Friday, February 14th. 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 2.61%. Magnolia Oil & Gas's dividend payout ratio (DPR) is presently 25.74%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on MGY shares. Johnson Rice cut shares of Magnolia Oil & Gas from a "moderate buy" rating to a "hold" rating in a report on Tuesday, January 28th. Bank of America reiterated a "neutral" rating and set a $28.00 price target (down previously from $29.00) on shares of Magnolia Oil & Gas in a report on Monday, January 13th. 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. Siebert Williams Shank cut shares of Magnolia Oil & Gas from a "buy" rating to a "hold" rating and set a $30.00 price target on the stock. in a report on Tuesday, October 15th. Finally, Benchmark restated a "hold" rating on shares of Magnolia Oil & Gas in a report on Tuesday, October 15th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Magnolia Oil & Gas has a consensus rating of "Hold" and a consensus target price of $27.58.

Magnolia Oil & Gas 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.