Pictet Asset Management Holding SA Grows Stock Position in Magnolia Oil & Gas Co. (NYSE:MGY)

Pictet Asset Management Holding SA increased its position in shares of Magnolia Oil & Gas Co. (NYSE:MGY) by 10.3% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 25,067 shares of the company’s stock after purchasing an additional 2,348 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Magnolia Oil & Gas were worth $586,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Mather Group LLC. increased its holdings in shares of Magnolia Oil & Gas by 100.0% in 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 last quarter. Larson Financial Group LLC grew its holdings in Magnolia Oil & Gas by 112.3% in the 4th quarter. Larson Financial Group LLC now owns 1,072 shares of the company’s stock valued at $25,000 after buying an additional 567 shares in the last quarter. R Squared Ltd acquired a new stake in shares of Magnolia Oil & Gas in the 4th quarter worth $43,000. Avior Wealth Management LLC raised its holdings in shares of 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. Finally, Smartleaf Asset Management LLC boosted its position in shares of Magnolia Oil & Gas by 95.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 3,777 shares of the company’s stock valued at $88,000 after acquiring an additional 1,844 shares during the last quarter. 94.73% of the stock is owned by institutional investors and hedge funds.

Magnolia Oil & Gas Stock Down 4.4 %

Shares of NYSE:MGY opened at $19.66 on Wednesday. Magnolia Oil & Gas Co. has a fifty-two week low of $19.35 and a fifty-two week high of $29.02. The firm’s 50 day moving average price is $23.60 and its 200 day moving average price is $24.97. 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 stock has a market cap of $3.82 billion, a price-to-earnings ratio of 10.19, a price-to-earnings-growth ratio of 3.01 and a beta of 1.57.

Magnolia Oil & Gas (NYSE:MGY) last released its quarterly earnings data on Tuesday, February 18th. The company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate 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%. As a group, 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 business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were issued 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 3.05%. This is a boost from Magnolia Oil & Gas’s previous quarterly dividend of $0.13. Magnolia Oil & Gas’s dividend payout ratio (DPR) is presently 31.09%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on MGY shares. Mizuho increased their price objective on Magnolia Oil & Gas from $27.00 to $28.00 and gave the stock a “neutral” rating in a research report on Monday, December 16th. Bank of America reiterated a “neutral” rating and set a $28.00 price target (down from $29.00) on shares of Magnolia Oil & Gas in a report on Monday, January 13th. The Goldman Sachs Group lowered shares of Magnolia Oil & Gas from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $27.00 to $26.00 in a report on Friday, January 31st. Citigroup lowered their target price on shares of Magnolia Oil & Gas from $22.00 to $19.00 and set a “sell” rating for the company in a research note on Tuesday. Finally, JPMorgan Chase & Co. reduced their price target 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. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Magnolia Oil & Gas currently has a consensus rating of “Hold” and an average price target of $27.54.

Insider Transactions at Magnolia Oil & Gas

In other news, CEO Christopher G. Stavros purchased 2,500 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were bought at an average price of $22.05 per share, with a total value of $55,125.00. Following the completion of the transaction, the chief executive officer now directly owns 892,372 shares in the company, valued at approximately $19,676,802.60. This represents a 0.28 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.20% of the company’s stock.

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.