Campbell Newman Asset Management Inc. Decreases Stock Position in Magnolia Oil & Gas Co. (NYSE:MGY)

Campbell Newman Asset Management Inc. cut its holdings in Magnolia Oil & Gas Co. (NYSE:MGY) by 0.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 92,166 shares of the company’s stock after selling 516 shares during the quarter. Campbell Newman Asset Management Inc.’s holdings in Magnolia Oil & Gas were worth $2,155,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Harbor Capital Advisors Inc. purchased a new stake in shares of Magnolia Oil & Gas during the third quarter valued at $25,000. First Horizon Advisors Inc. boosted its holdings in Magnolia Oil & Gas by 64.7% in the third quarter. First Horizon Advisors Inc. now owns 1,008 shares of the company’s stock worth $25,000 after purchasing an additional 396 shares during the last quarter. GAMMA Investing LLC raised its stake in Magnolia Oil & Gas by 62.4% during the 3rd quarter. GAMMA Investing LLC now owns 2,609 shares of the company’s stock valued at $64,000 after buying an additional 1,002 shares during the last quarter. Covestor Ltd lifted its position in Magnolia Oil & Gas by 36.8% during the third quarter. Covestor Ltd now owns 2,986 shares of the company’s stock valued at $73,000 after purchasing an additional 804 shares in the last quarter. Finally, Truvestments Capital LLC bought a new position in shares of Magnolia Oil & Gas during the 3rd quarter valued at approximately $90,000. Institutional investors own 94.73% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Benchmark restated a “hold” rating on shares of Magnolia Oil & Gas in a research note on Tuesday, October 15th. Wells Fargo & Company cut shares of Magnolia Oil & Gas from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $26.00 to $22.00 in a research note on Tuesday, October 1st. Piper Sandler decreased their price objective on Magnolia Oil & Gas from $26.00 to $24.00 and set a “neutral” rating on the stock in a report on Tuesday, December 17th. Siebert Williams Shank lowered shares of Magnolia Oil & Gas from a “buy” rating to a “hold” rating and set a $30.00 price objective for the company. in a research note on Tuesday, October 15th. Finally, Truist Financial raised their price objective on shares of Magnolia Oil & Gas from $33.00 to $34.00 and gave the stock a “buy” rating in a research note on Monday. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $27.58.

Magnolia Oil & Gas Trading Up 0.9 %

Shares of NYSE MGY traded up $0.22 during trading hours on Wednesday, reaching $26.02. The stock had a trading volume of 54,010 shares, compared to its average volume of 1,734,017. The business’s fifty day moving average price is $25.64 and its two-hundred day moving average price is $25.50. The firm has a market cap of $5.11 billion, a price-to-earnings ratio of 12.88, a P/E/G ratio of 1.29 and a beta of 2.00. Magnolia Oil & Gas Co. has a 52-week low of $19.16 and a 52-week high of $29.02. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.20.

Magnolia Oil & Gas (NYSE:MGY) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.04. Magnolia Oil & Gas had a return on equity of 20.78% and a net margin of 28.88%. The business had revenue of $333.14 million for the quarter, compared to the consensus estimate of $331.45 million. Analysts expect that Magnolia Oil & Gas Co. will post 2 EPS for the current fiscal year.

Magnolia Oil & Gas Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Friday, November 8th were given a $0.13 dividend. The ex-dividend date was Friday, November 8th. This represents a $0.52 annualized dividend and a dividend yield of 2.00%. Magnolia Oil & Gas’s payout ratio is presently 25.74%.

About Magnolia Oil & Gas

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.