Amalgamated Bank Boosts Stake in Magnolia Oil & Gas Co. (NYSE:MGY)

Amalgamated Bank raised its position in Magnolia Oil & Gas Co. (NYSE:MGY) by 1.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 55,581 shares of the company’s stock after purchasing an additional 704 shares during the quarter. Amalgamated Bank’s holdings in Magnolia Oil & Gas were worth $1,299,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. IFP Advisors Inc increased its position in Magnolia Oil & Gas by 46.9% during the 4th quarter. IFP Advisors Inc now owns 11,390 shares of the company’s stock worth $268,000 after purchasing an additional 3,638 shares in the last quarter. TimesSquare Capital Management LLC increased its position in shares of Magnolia Oil & Gas by 25.2% in the fourth quarter. TimesSquare Capital Management LLC now owns 793,965 shares of the company’s stock worth $18,563,000 after acquiring an additional 159,730 shares in the last quarter. Valley Wealth Managers Inc. raised its stake in shares of Magnolia Oil & Gas by 1.3% in the 4th quarter. Valley Wealth Managers Inc. now owns 682,024 shares of the company’s stock valued at $15,946,000 after acquiring an additional 8,960 shares during the period. Venturi Wealth Management LLC purchased a new position in shares of Magnolia Oil & Gas in the 4th quarter valued at $102,000. Finally, Truist Financial Corp lifted its holdings in shares of Magnolia Oil & Gas by 1.0% during the 4th quarter. Truist Financial Corp now owns 103,970 shares of the company’s stock valued at $2,431,000 after acquiring an additional 1,060 shares in the last quarter. 94.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Mizuho increased their price target on 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 lowered Magnolia Oil & Gas from a “buy” rating to a “neutral” rating and lowered their target price for the company from $27.00 to $26.00 in a research note on Friday, January 31st. Johnson Rice lowered Magnolia Oil & Gas from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, January 28th. Truist Financial upped their price target on Magnolia Oil & Gas from $33.00 to $34.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Finally, Bank of America reiterated a “neutral” rating and set a $28.00 price objective (down previously from $29.00) on shares of Magnolia Oil & Gas in a research note on Monday, January 13th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $27.58.

Magnolia Oil & Gas Stock Down 4.8 %

MGY stock opened at $22.28 on Tuesday. The company has a market capitalization of $4.38 billion, a P/E ratio of 11.54, a PEG ratio of 3.01 and a beta of 1.98. The firm has a 50 day simple moving average of $24.20 and a 200-day simple moving average of $25.20. The company has a current ratio of 1.42, a quick ratio of 1.47 and a debt-to-equity ratio of 0.20. Magnolia Oil & Gas Co. has a twelve month low of $22.03 and a twelve month high of $29.02.

Magnolia Oil & Gas (NYSE:MGY) last announced its quarterly earnings data on Tuesday, February 18th. The company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.03. The company had revenue of $326.61 million during the quarter, compared to analyst estimates of $327.40 million. Magnolia Oil & Gas had a net margin of 27.82% and a return on equity of 20.74%. On average, equities research analysts predict that Magnolia Oil & Gas Co. will post 2.1 earnings per share for the current fiscal year.

Magnolia Oil & Gas Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.60 annualized dividend and a yield of 2.69%. This is a boost from Magnolia Oil & Gas’s previous quarterly dividend of $0.13. Magnolia Oil & Gas’s dividend payout ratio is presently 31.09%.

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.