Farther Finance Advisors LLC Has $87,000 Stock Position in Magnolia Oil & Gas Co. (NYSE:MGY)

Farther Finance Advisors LLC cut its holdings in shares of Magnolia Oil & Gas Co. (NYSE:MGY) by 25.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,737 shares of the company’s stock after selling 1,259 shares during the quarter. Farther Finance Advisors LLC’s holdings in Magnolia Oil & Gas were worth $87,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of MGY. First Horizon Advisors Inc. boosted its position in 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 acquiring an additional 396 shares during the period. Mather Group LLC. boosted its position in Magnolia Oil & Gas by 100.0% during the 4th quarter. Mather Group LLC. now owns 1,090 shares of the company’s stock worth $25,000 after acquiring an additional 545 shares during the period. Larson Financial Group LLC boosted its position in Magnolia Oil & Gas by 112.3% during the 4th quarter. Larson Financial Group LLC now owns 1,072 shares of the company’s stock worth $25,000 after acquiring an additional 567 shares during the period. R Squared Ltd acquired a new stake in Magnolia Oil & Gas during the 4th quarter worth about $43,000. Finally, Avior Wealth Management LLC boosted 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 period. 94.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have commented on MGY. Johnson Rice lowered Magnolia Oil & Gas from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, January 28th. Williams Trading set a $29.00 price target on Magnolia Oil & Gas in a report on Wednesday, March 5th. Piper Sandler lifted their price target on Magnolia Oil & Gas from $24.00 to $26.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. Truist Financial lifted their price target on Magnolia Oil & Gas from $33.00 to $34.00 and gave the company a “buy” rating in a report on Monday, January 13th. Finally, The Goldman Sachs Group lowered Magnolia Oil & Gas from a “buy” rating to a “neutral” rating and reduced their price target for the company from $27.00 to $26.00 in a report on Friday, January 31st. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $27.77.

Magnolia Oil & Gas Stock Down 1.2 %

Shares of MGY stock opened at $25.03 on Friday. The stock’s 50 day simple moving average is $24.16 and its 200 day simple moving average is $25.01. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.47 and a current ratio of 1.42. Magnolia Oil & Gas Co. has a twelve month low of $21.63 and a twelve month high of $29.02. The company has a market capitalization of $4.86 billion, a price-to-earnings ratio of 12.97, a PEG ratio of 3.01 and a beta of 1.90.

Magnolia Oil & Gas (NYSE:MGY) last issued its quarterly earnings results on Tuesday, February 18th. The company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.46 by $0.03. The company had revenue of $326.61 million for the quarter, compared to the consensus estimate of $327.40 million. Magnolia Oil & Gas had a return on equity of 20.74% and a net margin of 27.82%. As a group, research analysts predict that Magnolia Oil & Gas Co. will post 2.1 EPS for the current year.

Magnolia Oil & Gas Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were given a $0.15 dividend. This is an increase from Magnolia Oil & Gas’s previous quarterly dividend of $0.13. This represents a $0.60 annualized dividend and a yield of 2.40%. The ex-dividend date was Friday, February 14th. Magnolia Oil & Gas’s payout ratio is currently 31.09%.

Insiders Place Their Bets

In other news, CEO Christopher G. Stavros acquired 2,500 shares of the stock in a transaction dated Monday, March 3rd. The shares were acquired at an average cost of $22.05 per share, for a total transaction of $55,125.00. Following the completion of the transaction, the chief executive officer now owns 892,372 shares in the company, valued at approximately $19,676,802.60. This trade represents a 0.28 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 1.40% of the company’s stock.

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.