Doheny Asset Management CA Decreases Holdings in Magnolia Oil & Gas Co. (NYSE:MGY)

Doheny Asset Management CA trimmed its stake in Magnolia Oil & Gas Co. (NYSE:MGY) by 4.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 43,230 shares of the company’s stock after selling 2,020 shares during the quarter. Doheny Asset Management CA’s holdings in Magnolia Oil & Gas were worth $920,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC boosted its holdings in Magnolia Oil & Gas by 9.9% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 3,041,390 shares of the company’s stock worth $64,751,000 after acquiring an additional 274,908 shares in the last quarter. Vest Financial LLC boosted its holdings in Magnolia Oil & Gas by 51.4% in the fourth quarter. Vest Financial LLC now owns 606,277 shares of the company’s stock worth $12,908,000 after acquiring an additional 205,924 shares in the last quarter. VisionPoint Advisory Group LLC boosted its holdings in Magnolia Oil & Gas by 112.3% in the third quarter. VisionPoint Advisory Group LLC now owns 1,537 shares of the company’s stock worth $35,000 after acquiring an additional 813 shares in the last quarter. Sei Investments Co. boosted its holdings in Magnolia Oil & Gas by 6.2% in the third quarter. Sei Investments Co. now owns 818,397 shares of the company’s stock worth $18,750,000 after acquiring an additional 47,564 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Magnolia Oil & Gas by 12.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,735,955 shares of the company’s stock worth $39,771,000 after purchasing an additional 195,467 shares during the last quarter. 94.73% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

MGY has been the subject of several recent analyst reports. Benchmark restated a “hold” rating on shares of Magnolia Oil & Gas in a research note on Tuesday, April 23rd. The Goldman Sachs Group upped their price objective on Magnolia Oil & Gas from $24.50 to $28.00 and gave the company a “buy” rating in a research report on Tuesday, March 26th. Truist Financial upped their price objective on Magnolia Oil & Gas from $32.00 to $33.00 and gave the company a “buy” rating in a research report on Friday, February 16th. Bank of America began coverage on Magnolia Oil & Gas in a research report on Tuesday, February 27th. They issued a “buy” rating and a $25.00 price target for the company. Finally, Citigroup upped their price target on Magnolia Oil & Gas from $18.00 to $22.00 and gave the stock a “sell” rating in a research report on Monday, April 15th. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Magnolia Oil & Gas presently has an average rating of “Hold” and a consensus target price of $27.63.

Magnolia Oil & Gas Price Performance

Shares of NYSE MGY traded up $0.39 during mid-day trading on Thursday, reaching $24.98. The company’s stock had a trading volume of 954,228 shares, compared to its average volume of 3,121,214. The firm has a market capitalization of $5.10 billion, a PE ratio of 12.00, a P/E/G ratio of 1.53 and a beta of 2.03. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.88 and a quick ratio of 1.88. The stock has a fifty day moving average of $24.92 and a two-hundred day moving average of $22.58. Magnolia Oil & Gas Co. has a 52 week low of $18.72 and a 52 week high of $27.33.

Magnolia Oil & Gas (NYSE:MGY) last announced its quarterly earnings results on Wednesday, February 14th. The company reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.04). Magnolia Oil & Gas had a net margin of 31.65% and a return on equity of 21.21%. The firm had revenue of $322.63 million for the quarter, compared to the consensus estimate of $324.95 million. As a group, sell-side analysts anticipate that Magnolia Oil & Gas Co. will post 2.09 EPS for the current fiscal year.

Magnolia Oil & Gas Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 16th were paid a dividend of $0.13 per share. The ex-dividend date was Thursday, February 15th. This is a positive change from Magnolia Oil & Gas’s previous quarterly dividend of $0.12. This represents a $0.52 dividend on an annualized basis and a yield of 2.08%. Magnolia Oil & Gas’s dividend payout ratio is presently 25.37%.

Magnolia Oil & Gas Profile

Magnolia Oil & Gas Corporation, an independent oil and natural gas company, engages in the acquisition, development, exploration, and production of oil, natural gas, and natural gas liquids reserves in the United States. Its properties are located primarily in Karnes County and the Giddings area in South Texas principally comprising the Eagle Ford Shale and the Austin Chalk formation.