Los Angeles Capital Management LLC Buys 35,856 Shares of Magnolia Oil & Gas Co. (NYSE:MGY)

Los Angeles Capital Management LLC boosted its stake in Magnolia Oil & Gas Co. (NYSE:MGY) by 280.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 48,635 shares of the company’s stock after acquiring an additional 35,856 shares during the period. Los Angeles Capital Management LLC’s holdings in Magnolia Oil & Gas were worth $1,035,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. VisionPoint Advisory Group LLC boosted its stake in shares of Magnolia Oil & Gas by 112.3% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 1,537 shares of the company’s stock valued at $35,000 after purchasing an additional 813 shares during the last quarter. Arlington Trust Co LLC bought a new position in shares of Magnolia Oil & Gas during the 4th quarter worth approximately $113,000. Signaturefd LLC lifted its holdings in Magnolia Oil & Gas by 6.7% during the third quarter. Signaturefd LLC now owns 8,325 shares of the company’s stock worth $191,000 after acquiring an additional 523 shares during the period. Fulton Bank N.A. bought a new position in Magnolia Oil & Gas in the 4th quarter valued at $213,000. Finally, Andina Capital Management LLC purchased a new stake in shares of Magnolia Oil & Gas during the 4th quarter valued at $221,000. Institutional investors and hedge funds own 94.73% of the company’s stock.

Magnolia Oil & Gas Trading Up 2.4 %

Shares of MGY stock opened at $26.50 on Friday. The stock has a market capitalization of $5.41 billion, a price-to-earnings ratio of 13.18, a PEG ratio of 1.52 and a beta of 2.03. The company’s fifty day simple moving average is $25.34 and its two-hundred day simple moving average is $22.67. Magnolia Oil & Gas Co. has a 1 year low of $18.91 and a 1 year high of $27.33. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.88 and a quick ratio of 1.88.

Magnolia Oil & Gas (NYSE:MGY) last released its quarterly earnings data on Wednesday, February 14th. The company reported $0.50 earnings per share (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 company had revenue of $322.63 million for the quarter, compared to the consensus estimate of $324.95 million. As a group, analysts anticipate that Magnolia Oil & Gas Co. will post 2.11 earnings per share for the current year.

Magnolia Oil & Gas Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 13th will be issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date is Friday, May 10th. Magnolia Oil & Gas’s payout ratio is 25.87%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on MGY. Mizuho increased their price target on shares of Magnolia Oil & Gas from $24.00 to $26.00 and gave the company a “neutral” rating in a research report on Thursday, March 14th. The Goldman Sachs Group increased their target price on shares of Magnolia Oil & Gas from $24.50 to $28.00 and gave the company a “buy” rating in a research report on Tuesday, March 26th. Wells Fargo & Company lifted their price target on shares of Magnolia Oil & Gas from $23.00 to $27.00 and gave the stock an “equal weight” rating in a report on Thursday, April 18th. Benchmark reissued a “hold” rating on shares of Magnolia Oil & Gas in a report on Tuesday, April 23rd. Finally, Piper Sandler restated a “neutral” rating and issued a $29.00 target price on shares of Magnolia Oil & Gas in a research note on Friday, April 19th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Magnolia Oil & Gas has a consensus rating of “Hold” and an average target price of $27.63.

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.