King Luther Capital Management Corp Reduces Holdings in Magnolia Oil & Gas Co. (NYSE:MGY)

King Luther Capital Management Corp reduced its stake in Magnolia Oil & Gas Co. (NYSE:MGY) by 1.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 328,264 shares of the company’s stock after selling 5,576 shares during the period. King Luther Capital Management Corp owned about 0.17% of Magnolia Oil & Gas worth $7,675,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Isthmus Partners LLC raised its holdings in Magnolia Oil & Gas by 5.2% during the 4th quarter. Isthmus Partners LLC now owns 9,320 shares of the company’s stock valued at $218,000 after buying an additional 460 shares during the last quarter. AlphaQuest LLC raised its stake in shares of Magnolia Oil & Gas by 350,304.0% during the fourth quarter. AlphaQuest LLC now owns 87,601 shares of the company’s stock valued at $2,048,000 after acquiring an additional 87,576 shares during the last quarter. Larson Financial Group LLC boosted its holdings in shares of Magnolia Oil & Gas by 112.3% during the fourth quarter. Larson Financial Group LLC now owns 1,072 shares of the company’s stock worth $25,000 after purchasing an additional 567 shares during the period. Edgestream Partners L.P. increased its holdings in Magnolia Oil & Gas by 17.1% during the 4th quarter. Edgestream Partners L.P. now owns 242,294 shares of the company’s stock valued at $5,665,000 after purchasing an additional 35,370 shares during the period. Finally, Ashton Thomas Private Wealth LLC bought a new position in Magnolia Oil & Gas during the 4th quarter valued at approximately $590,000. Institutional investors own 94.73% of the company’s stock.

Insider Activity

In other news, CEO Christopher G. Stavros purchased 2,500 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were purchased at an average cost of $22.05 per share, for a total transaction of $55,125.00. Following the purchase, 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 transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.20% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on MGY shares. 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 report on Monday, December 16th. Piper Sandler boosted their price objective on shares of Magnolia Oil & Gas from $24.00 to $26.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Truist Financial raised their target price on shares of Magnolia Oil & Gas from $33.00 to $34.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Williams Trading set a $29.00 price target on shares of Magnolia Oil & Gas in a research note on Wednesday, March 5th. Finally, The Goldman Sachs Group cut Magnolia Oil & Gas from a “buy” rating to a “neutral” rating and cut their price objective for the company from $27.00 to $26.00 in a research report on Friday, January 31st. 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 company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $27.69.

Magnolia Oil & Gas Stock Performance

Shares of Magnolia Oil & Gas stock opened at $22.86 on Wednesday. Magnolia Oil & Gas Co. has a 1 year low of $21.63 and a 1 year high of $29.02. The firm’s 50-day moving average is $24.16 and its 200 day moving average is $25.10. The stock has a market cap of $4.44 billion, a price-to-earnings ratio of 11.84, a PEG ratio of 3.01 and a beta of 1.90. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.42 and a quick ratio of 1.47.

Magnolia Oil & Gas (NYSE:MGY) last posted its quarterly earnings results on Tuesday, February 18th. The company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.03. Magnolia Oil & Gas had a net margin of 27.82% and a return on equity of 20.74%. The firm had revenue of $326.61 million for the quarter, compared to analysts’ expectations of $327.40 million. Sell-side analysts anticipate that Magnolia Oil & Gas Co. will post 2.1 EPS for the current fiscal year.

Magnolia Oil & Gas Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were paid a $0.15 dividend. The ex-dividend date was Friday, February 14th. This represents a $0.60 annualized dividend and a dividend yield of 2.62%. This is a boost from Magnolia Oil & Gas’s previous quarterly dividend of $0.13. Magnolia Oil & Gas’s payout ratio is currently 31.09%.

Magnolia Oil & Gas 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.