Proficio Capital Partners LLC Invests $292,000 in Magnolia Oil & Gas Co. (NYSE:MGY)

Proficio Capital Partners LLC bought a new stake in shares of Magnolia Oil & Gas Co. (NYSE:MGY - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 12,479 shares of the company's stock, valued at approximately $292,000.

Other institutional investors have also recently made changes to their positions in the company. Mather Group LLC. raised its position in 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 purchasing an additional 545 shares during the period. R Squared Ltd bought a new position in shares of Magnolia Oil & Gas during the 4th quarter valued at approximately $43,000. Avior Wealth Management LLC raised its holdings 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 buying an additional 506 shares during the period. Smartleaf Asset Management LLC lifted its position in Magnolia Oil & Gas by 95.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 3,777 shares of the company's stock worth $88,000 after buying an additional 1,844 shares during the last quarter. Finally, Truvestments Capital LLC purchased a new position in Magnolia Oil & Gas during the third quarter worth $90,000. Institutional investors own 94.73% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. reduced their target price on shares of Magnolia Oil & Gas from $28.00 to $24.00 and set a "neutral" rating on the stock in a research note on Thursday, March 13th. Bank of America reissued a "neutral" rating and issued a $28.00 price objective (down from $29.00) on shares of Magnolia Oil & Gas in a research report on Monday, January 13th. Mizuho raised their price objective on shares of Magnolia Oil & Gas from $27.00 to $28.00 and gave the stock a "neutral" rating in a research note on Monday, December 16th. The Goldman Sachs Group cut Magnolia Oil & Gas from a "buy" rating to a "neutral" rating and cut their target price for the company from $27.00 to $26.00 in a research note on Friday, January 31st. Finally, Piper Sandler raised their price target on Magnolia Oil & Gas from $24.00 to $26.00 and gave the stock a "neutral" rating in a research note on Wednesday, January 29th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $27.77.

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Magnolia Oil & Gas Stock Down 0.5 %

Shares of MGY traded down $0.14 during mid-day trading on Friday, hitting $25.21. 1,948,716 shares of the company traded hands, compared to its average volume of 2,250,129. The company has a market capitalization of $4.89 billion, a PE ratio of 13.06, a price-to-earnings-growth ratio of 3.01 and a beta of 1.90. The company has a quick ratio of 1.47, a current ratio of 1.42 and a debt-to-equity ratio of 0.20. The business has a 50 day moving average of $24.08 and a 200 day moving average of $25.09. Magnolia Oil & Gas Co. has a 1-year low of $21.63 and a 1-year high of $29.02.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last posted its quarterly earnings results on Tuesday, February 18th. The company reported $0.49 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.46 by $0.03. The business had revenue of $326.61 million during the quarter, compared to analysts' expectations of $327.40 million. Magnolia Oil & Gas had a net margin of 27.82% and a return on equity of 20.74%. Equities research analysts anticipate that Magnolia Oil & Gas Co. will post 2.1 EPS for the current year.

Magnolia Oil & Gas Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were given a dividend of $0.15 per share. The ex-dividend date was Friday, February 14th. This represents a $0.60 dividend on an annualized basis and a yield of 2.38%. This is a boost from Magnolia Oil & Gas's previous quarterly dividend of $0.13. Magnolia Oil & Gas's payout ratio is currently 31.09%.

Insiders Place Their Bets

In other Magnolia Oil & Gas news, CEO Christopher G. Stavros purchased 2,500 shares of Magnolia Oil & Gas stock in a transaction on Monday, March 3rd. The stock was bought at an average cost of $22.05 per share, with a total value of $55,125.00. Following the transaction, the chief executive officer now owns 892,372 shares of the company's stock, valued at $19,676,802.60. This represents a 0.28 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.20% of the stock is currently owned by insiders.

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.