Anchor Capital Advisors LLC Buys 1,387 Shares of Magnolia Oil & Gas Co. (NYSE:MGY)

Anchor Capital Advisors LLC grew its stake in Magnolia Oil & Gas Co. (NYSE:MGY) by 1.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 101,236 shares of the company’s stock after purchasing an additional 1,387 shares during the period. Anchor Capital Advisors LLC owned approximately 0.05% of Magnolia Oil & Gas worth $2,367,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC raised its position in Magnolia Oil & Gas by 6.6% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 14,364 shares of the company’s stock worth $351,000 after purchasing an additional 889 shares during the period. State of Alaska Department of Revenue lifted its position in shares of Magnolia Oil & Gas by 1.1% during the third quarter. State of Alaska Department of Revenue now owns 107,375 shares of the company’s stock worth $2,622,000 after purchasing an additional 1,147 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of Magnolia Oil & Gas by 43.6% during the third quarter. Nisa Investment Advisors LLC now owns 4,094 shares of the company’s stock valued at $100,000 after purchasing an additional 1,244 shares during the period. New York State Teachers Retirement System grew its holdings in shares of Magnolia Oil & Gas by 41.5% in the third quarter. New York State Teachers Retirement System now owns 64,537 shares of the company’s stock worth $1,576,000 after purchasing an additional 18,937 shares during the last quarter. Finally, Harbor Capital Advisors Inc. purchased a new position in Magnolia Oil & Gas in the 3rd quarter worth about $25,000. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Magnolia Oil & Gas Price Performance

MGY opened at $23.40 on Friday. The firm has a market capitalization of $4.60 billion, a PE ratio of 12.12, a price-to-earnings-growth ratio of 3.01 and a beta of 1.98. The business’s 50-day moving average is $24.19 and its two-hundred day moving average is $25.20. Magnolia Oil & Gas Co. has a 1 year low of $22.37 and a 1 year high of $29.02. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.42 and a quick ratio of 1.47.

Magnolia Oil & Gas (NYSE:MGY) last posted its quarterly earnings data on Tuesday, February 18th. The company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.46 by $0.03. The firm had revenue of $326.61 million during the quarter, compared to analyst estimates of $327.40 million. Magnolia Oil & Gas had a net margin of 27.82% and a return on equity of 20.74%. Research analysts anticipate that Magnolia Oil & Gas Co. will post 2.1 earnings per share for the current fiscal year.

Magnolia Oil & Gas Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Friday, February 14th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 2.56%. The ex-dividend date is Friday, February 14th. This is a positive change from Magnolia Oil & Gas’s previous quarterly dividend of $0.13. Magnolia Oil & Gas’s dividend payout ratio is currently 31.09%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on MGY. The Goldman Sachs Group downgraded shares of Magnolia Oil & Gas from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $27.00 to $26.00 in a research note on Friday, January 31st. Piper Sandler increased their price objective on Magnolia Oil & Gas from $24.00 to $26.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. Johnson Rice downgraded Magnolia Oil & Gas from a “moderate buy” rating to a “hold” rating in a report on Tuesday, January 28th. Bank of America reiterated a “neutral” rating and issued a $28.00 target price (down from $29.00) on shares of Magnolia Oil & Gas in a report on Monday, January 13th. Finally, Mizuho raised their price target on Magnolia Oil & Gas from $27.00 to $28.00 and gave the company a “neutral” rating in a research note on Monday, December 16th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $27.58.

Magnolia Oil & Gas 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.