abrdn plc reduced its holdings in Magnolia Oil & Gas Co. (NYSE:MGY - Free Report) by 17.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 544,286 shares of the company's stock after selling 115,915 shares during the quarter. abrdn plc owned approximately 0.28% of Magnolia Oil & Gas worth $12,655,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also recently added to or reduced their stakes in the business. First Horizon Advisors Inc. increased its stake in Magnolia Oil & Gas by 64.7% during the third quarter. First Horizon Advisors Inc. now owns 1,008 shares of the company's stock worth $25,000 after acquiring an additional 396 shares during the last quarter. Albert D Mason Inc. increased its stake in Magnolia Oil & Gas by 0.7% during the fourth quarter. Albert D Mason Inc. now owns 61,497 shares of the company's stock worth $1,438,000 after acquiring an additional 411 shares during the last quarter. Jennison Associates LLC increased its stake in Magnolia Oil & Gas by 2.2% during the third quarter. Jennison Associates LLC now owns 23,836 shares of the company's stock worth $582,000 after acquiring an additional 506 shares during the last quarter. Avior Wealth Management LLC increased its stake in Magnolia Oil & Gas by 30.0% during the fourth quarter. Avior Wealth Management LLC now owns 2,194 shares of the company's stock worth $51,000 after acquiring an additional 506 shares during the last quarter. Finally, Atria Investments Inc increased its stake in Magnolia Oil & Gas by 2.3% during the third quarter. Atria Investments Inc now owns 23,576 shares of the company's stock worth $576,000 after acquiring an additional 523 shares during the last quarter. 94.73% of the stock is currently owned by institutional investors and hedge funds.
Magnolia Oil & Gas Stock Performance
NYSE:MGY traded up $0.07 during trading hours on Tuesday, reaching $23.79. 1,800,468 shares of the stock were exchanged, compared to its average volume of 1,805,795. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.20. The firm has a 50 day simple moving average of $24.64 and a 200-day simple moving average of $25.34. Magnolia Oil & Gas Co. has a 52 week low of $20.08 and a 52 week high of $29.02. The stock has a market capitalization of $4.68 billion, a P/E ratio of 11.78, a P/E/G ratio of 2.85 and a beta of 1.98.
Magnolia Oil & Gas Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Friday, February 14th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 2.52%. 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. Magnolia Oil & Gas's dividend payout ratio (DPR) is currently 25.74%.
Wall Street Analyst Weigh In
Several equities research analysts have commented on the company. 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 note on Monday, January 13th. Mizuho upped their price target on Magnolia Oil & Gas from $27.00 to $28.00 and gave the stock a "neutral" rating in a research note on Monday, December 16th. 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. 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 research note on Monday, January 13th. Finally, Johnson Rice lowered Magnolia Oil & Gas from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, January 28th. Two investment 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's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $27.58.
Get Our Latest Analysis on Magnolia Oil & Gas
Magnolia Oil & Gas Company Profile
(
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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