Empowered Funds LLC Has $1.41 Million Stake in Magnolia Oil & Gas Co. (NYSE:MGY)

Empowered Funds LLC lifted its stake in Magnolia Oil & Gas Co. (NYSE:MGY) by 4.5% during the fourth quarter, Holdings Channel reports. The fund owned 60,114 shares of the company’s stock after acquiring an additional 2,591 shares during the quarter. Empowered Funds LLC’s holdings in Magnolia Oil & Gas were worth $1,405,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. acquired a new position in Magnolia Oil & Gas during the third quarter valued at approximately $25,000. First Horizon Advisors Inc. boosted its holdings 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 worth $25,000 after buying an additional 396 shares during the period. Mather Group LLC. grew its stake in Magnolia Oil & Gas by 100.0% in the 4th 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 bought a new position in Magnolia Oil & Gas in the 4th quarter worth $43,000. Finally, Avior Wealth Management LLC lifted its position 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 worth $51,000 after acquiring an additional 506 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 opened at $23.45 on Monday. The firm has a market capitalization of $4.61 billion, a PE ratio of 11.61, a price-to-earnings-growth ratio of 2.85 and a beta of 1.98. 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 12-month low of $20.66 and a 12-month high of $29.02. The firm has a 50-day moving average price of $24.38 and a 200 day moving average price of $25.24.

Magnolia Oil & Gas Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Friday, February 14th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 2.56%. 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 25.74%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on MGY. Mizuho lifted their price objective 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. The Goldman Sachs Group lowered Magnolia Oil & Gas from a “buy” rating to a “neutral” rating and cut their price target for the stock from $27.00 to $26.00 in a report on Friday, January 31st. Truist Financial increased their price objective on Magnolia Oil & Gas from $33.00 to $34.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Johnson Rice lowered shares of Magnolia Oil & Gas from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, January 28th. Finally, Bank of America reissued a “neutral” rating and issued a $28.00 price target (down from $29.00) on shares of Magnolia Oil & Gas in a report on Monday, January 13th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $27.58.

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.