American Trust Boosts Holdings in Magnolia Oil & Gas Co. (NYSE:MGY)

American Trust boosted its position in Magnolia Oil & Gas Co. (NYSE:MGY – Get Rating) by 26.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,217 shares of the company’s stock after buying an additional 2,593 shares during the period. American Trust’s holdings in Magnolia Oil & Gas were worth $242,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in MGY. Advisor Group Holdings Inc. boosted its position in shares of Magnolia Oil & Gas by 121.9% during the 1st quarter. Advisor Group Holdings Inc. now owns 16,774 shares of the company’s stock worth $396,000 after purchasing an additional 9,214 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Magnolia Oil & Gas by 3.6% during the 1st quarter. Bank of New York Mellon Corp now owns 1,118,918 shares of the company’s stock worth $26,462,000 after purchasing an additional 39,115 shares in the last quarter. Acadian Asset Management LLC boosted its position in shares of Magnolia Oil & Gas by 320.2% during the 1st quarter. Acadian Asset Management LLC now owns 10,686 shares of the company’s stock worth $252,000 after purchasing an additional 8,143 shares in the last quarter. MetLife Investment Management LLC boosted its position in shares of Magnolia Oil & Gas by 55.1% during the 1st quarter. MetLife Investment Management LLC now owns 77,409 shares of the company’s stock worth $1,831,000 after purchasing an additional 27,498 shares in the last quarter. Finally, Panagora Asset Management Inc. purchased a new stake in shares of Magnolia Oil & Gas during the 1st quarter worth $1,084,000. 98.60% of the stock is currently owned by hedge funds and other institutional investors.

Magnolia Oil & Gas Stock Down 1.7 %

MGY opened at $19.64 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.50 and a quick ratio of 2.50. The stock has a market capitalization of $4.20 billion, a price-to-earnings ratio of 4.17 and a beta of 2.14. The business has a 50-day moving average of $22.43 and a two-hundred day moving average of $23.23. Magnolia Oil & Gas Co. has a 12 month low of $18.01 and a 12 month high of $30.31.

Magnolia Oil & Gas (NYSE:MGY – Get Rating) last posted its quarterly earnings results on Tuesday, February 14th. The company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.76 by $0.10. The company had revenue of $349.04 million during the quarter, compared to analysts’ expectations of $351.53 million. Magnolia Oil & Gas had a return on equity of 59.22% and a net margin of 52.75%. On average, research analysts expect that Magnolia Oil & Gas Co. will post 2.75 earnings per share for the current year.

Magnolia Oil & Gas Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 1st. Stockholders of record on Friday, February 10th were issued a dividend of $0.115 per share. The ex-dividend date was Thursday, February 9th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 2.34%. This is a boost from Magnolia Oil & Gas’s previous quarterly dividend of $0.10. Magnolia Oil & Gas’s payout ratio is presently 9.77%.

Analyst Upgrades and Downgrades

MGY has been the topic of several research analyst reports. Credit Suisse Group boosted their target price on shares of Magnolia Oil & Gas from $28.00 to $29.00 and gave the stock a “buy” rating in a research report on Thursday, February 16th. TheStreet downgraded Magnolia Oil & Gas from a “b-” rating to a “c+” rating in a research note on Wednesday, December 7th. Piper Sandler cut their price target on Magnolia Oil & Gas from $37.00 to $35.00 and set an “overweight” rating for the company in a research note on Tuesday, March 7th. Roth Capital reissued a “buy” rating on shares of Magnolia Oil & Gas in a research note on Tuesday, February 14th. Finally, Mizuho cut their target price on shares of Magnolia Oil & Gas from $32.00 to $29.00 in a research note on Friday, March 10th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $30.67.

Magnolia Oil & Gas Profile

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Magnolia Oil & Gas Corp. engages in oil and gas exploration and production business. It operates assets located in the Eagle Ford Shale and Austin Chalk formations in South Texas. The company was founded on July 31, 2018 and is headquartered in Houston, TX.