Oliver Luxxe Assets LLC Grows Stake in Magnolia Oil & Gas Co. (NYSE:MGY)

Oliver Luxxe Assets LLC raised its holdings in Magnolia Oil & Gas Co. (NYSE:MGY) by 6.2% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 93,048 shares of the company’s stock after buying an additional 5,424 shares during the quarter. Oliver Luxxe Assets LLC’s holdings in Magnolia Oil & Gas were worth $2,175,000 at the end of the most recent quarter.

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

Magnolia Oil & Gas Stock Down 0.9 %

Shares of Magnolia Oil & Gas stock traded down $0.21 on Monday, reaching $23.76. The company’s stock had a trading volume of 829,736 shares, compared to its average volume of 1,275,641. Magnolia Oil & Gas Co. has a 52 week low of $19.16 and a 52 week high of $29.02. The firm’s fifty day simple moving average is $25.76 and its two-hundred day simple moving average is $25.52. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $4.67 billion, a price-to-earnings ratio of 11.76, a P/E/G ratio of 1.29 and a beta of 2.00.

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

Magnolia Oil & Gas Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Friday, November 8th were issued a dividend of $0.13 per share. The ex-dividend date was Friday, November 8th. This represents a $0.52 annualized dividend and a dividend yield of 2.19%. Magnolia Oil & Gas’s payout ratio is 25.74%.

Wall Street Analyst Weigh In

MGY has been the subject of several research reports. Wells Fargo & Company lowered Magnolia Oil & Gas from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $26.00 to $22.00 in a research report on Tuesday, October 1st. Mizuho raised their price objective on Magnolia Oil & Gas from $27.00 to $28.00 and gave the company a “neutral” rating in a research report on Monday, December 16th. Truist Financial boosted their target price on shares of Magnolia Oil & Gas from $31.00 to $33.00 and gave the company a “buy” rating in a report on Friday, November 1st. JPMorgan Chase & Co. decreased their target price on shares of Magnolia Oil & Gas from $26.00 to $23.00 and set a “neutral” rating for the company in a research note on Thursday, September 12th. Finally, Benchmark reissued a “hold” rating on shares of Magnolia Oil & Gas in a research report on Tuesday, October 15th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $27.58.

Magnolia Oil & Gas Company 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.