Hunter Perkins Capital Management LLC Has $8.01 Million Stock Position in Magnolia Oil & Gas Co. (NYSE:MGY)

Hunter Perkins Capital Management LLC reduced its holdings in Magnolia Oil & Gas Co. (NYSE:MGY) by 9.3% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 342,565 shares of the company’s stock after selling 35,305 shares during the period. Magnolia Oil & Gas accounts for approximately 1.7% of Hunter Perkins Capital Management LLC’s portfolio, making the stock its 21st largest position. Hunter Perkins Capital Management LLC’s holdings in Magnolia Oil & Gas were worth $8,009,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of MGY. First Horizon Advisors Inc. raised its stake in Magnolia Oil & Gas by 64.7% during the 3rd quarter. First Horizon Advisors Inc. now owns 1,008 shares of the company’s stock valued at $25,000 after purchasing an additional 396 shares during the last quarter. Albert D Mason Inc. raised its position in shares of Magnolia Oil & Gas by 0.7% during the fourth quarter. Albert D Mason Inc. now owns 61,497 shares of the company’s stock valued at $1,438,000 after buying an additional 411 shares during the last quarter. Jennison Associates LLC lifted its stake in shares of Magnolia Oil & Gas by 2.2% in the third quarter. Jennison Associates LLC now owns 23,836 shares of the company’s stock valued at $582,000 after buying an additional 506 shares during the period. Avior Wealth Management LLC lifted its stake in shares of Magnolia Oil & Gas by 30.0% in the fourth quarter. Avior Wealth Management LLC now owns 2,194 shares of the company’s stock valued at $51,000 after buying an additional 506 shares during the period. Finally, Atria Investments Inc grew its position in Magnolia Oil & Gas by 2.3% during the third quarter. Atria Investments Inc now owns 23,576 shares of the company’s stock worth $576,000 after buying an additional 523 shares in the last quarter. 94.73% of the stock is owned by institutional investors.

Magnolia Oil & Gas Stock Performance

NYSE:MGY opened at $25.40 on Monday. The stock has a market capitalization of $4.99 billion, a P/E ratio of 12.58, a price-to-earnings-growth ratio of 3.26 and a beta of 2.00. 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 Co. has a 1 year low of $19.53 and a 1 year high of $29.02. The firm has a 50 day moving average of $25.48 and a 200-day moving average of $25.53.

Magnolia Oil & Gas (NYSE:MGY) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.04. The company had revenue of $333.14 million for the quarter, compared to analyst estimates of $331.45 million. Magnolia Oil & Gas had a return on equity of 20.78% and a net margin of 28.88%. As a group, sell-side analysts anticipate that Magnolia Oil & Gas Co. will post 1.98 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on MGY. Piper Sandler reduced their price objective on Magnolia Oil & Gas from $26.00 to $24.00 and set a “neutral” rating for the company in a research report on Tuesday, December 17th. Truist Financial raised their target price on Magnolia Oil & Gas from $33.00 to $34.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Mizuho boosted their price target on shares of Magnolia Oil & Gas from $27.00 to $28.00 and gave the company a “neutral” rating in a report on Monday, December 16th. Bank of America reaffirmed a “neutral” rating and set a $28.00 price objective (down from $29.00) on shares of Magnolia Oil & Gas in a report on Monday, January 13th. Finally, Siebert Williams Shank cut shares of Magnolia Oil & Gas from a “buy” rating to a “hold” rating and set a $30.00 target price on the stock. in a research note on Tuesday, October 15th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $27.58.

Magnolia Oil & Gas Company 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.