Vista Finance LLC Acquires New Stake in Magnolia Oil & Gas Co. (NYSE:MGY)

Vista Finance LLC purchased a new stake in Magnolia Oil & Gas Co. (NYSE:MGY - Free Report) in the fourth quarter, according to its most recent filing with the SEC. The fund purchased 10,904 shares of the company's stock, valued at approximately $255,000.

A number of other institutional investors and hedge funds also recently modified their holdings of MGY. Soros Fund Management LLC bought a new stake in shares of Magnolia Oil & Gas during the third quarter valued at about $18,120,000. Barclays PLC lifted its holdings in shares of Magnolia Oil & Gas by 62.5% during the third quarter. Barclays PLC now owns 1,653,736 shares of the company's stock valued at $40,383,000 after purchasing an additional 636,049 shares during the last quarter. State Street Corp increased its stake in Magnolia Oil & Gas by 4.2% in the 3rd quarter. State Street Corp now owns 10,700,257 shares of the company's stock worth $261,300,000 after purchasing an additional 435,326 shares in the last quarter. Centiva Capital LP raised its holdings in Magnolia Oil & Gas by 767.6% during the 3rd quarter. Centiva Capital LP now owns 487,148 shares of the company's stock worth $11,896,000 after buying an additional 430,996 shares during the period. Finally, Vest Financial LLC lifted its stake in Magnolia Oil & Gas by 39.0% during the fourth quarter. Vest Financial LLC now owns 1,521,004 shares of the company's stock valued at $35,561,000 after buying an additional 426,572 shares in the last quarter. 94.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on MGY. Mizuho boosted their price target on shares of Magnolia Oil & Gas from $27.00 to $28.00 and gave the company a "neutral" rating in a report on Monday, December 16th. The Goldman Sachs Group downgraded shares of 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. Johnson Rice cut Magnolia Oil & Gas from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, January 28th. Piper Sandler upped their price target on Magnolia Oil & Gas from $24.00 to $26.00 and gave the company a "neutral" rating in a research report on Wednesday, January 29th. Finally, Truist Financial raised their price objective on Magnolia Oil & Gas from $33.00 to $34.00 and gave the stock a "buy" rating in a research report on Monday, January 13th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $27.58.

Magnolia Oil & Gas Stock Performance

Shares of NYSE:MGY traded up $0.39 on Wednesday, hitting $24.27. 3,822,806 shares of the company were exchanged, compared to its average volume of 1,929,291. Magnolia Oil & Gas Co. has a one year low of $21.07 and a one year high of $29.02. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.47 and a current ratio of 1.47. The firm has a market capitalization of $4.77 billion, a price-to-earnings ratio of 12.02, a PEG ratio of 2.92 and a beta of 1.98. The company's 50 day moving average price is $24.26 and its two-hundred day moving average price is $25.22.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last announced its quarterly earnings data on Tuesday, February 18th. The company reported $0.49 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.46 by $0.03. Magnolia Oil & Gas had a net margin of 28.88% and a return on equity of 20.78%. The company had revenue of $326.61 million during the quarter, compared to analysts' expectations of $327.40 million. Research analysts expect that Magnolia Oil & Gas Co. will post 1.97 earnings per share for the current year.

Magnolia Oil & Gas Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Friday, February 14th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 2.47%. The ex-dividend date of this dividend is Friday, February 14th. This is a positive change from Magnolia Oil & Gas's previous quarterly dividend of $0.13. Magnolia Oil & Gas's dividend payout ratio is 29.70%.

Magnolia Oil & Gas Company 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.