Proficio Capital Partners LLC Takes $292,000 Position in Magnolia Oil & Gas Co. (NYSE:MGY)

Proficio Capital Partners LLC purchased a new position in shares of Magnolia Oil & Gas Co. (NYSE:MGY) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 12,479 shares of the company’s stock, valued at approximately $292,000.

Other large investors have also bought and sold shares of the company. State Street Corp boosted its position in shares of Magnolia Oil & Gas by 4.2% during the 3rd quarter. State Street Corp now owns 10,700,257 shares of the company’s stock worth $261,300,000 after purchasing an additional 435,326 shares in the last quarter. Geode Capital Management LLC raised its stake in Magnolia Oil & Gas by 2.9% during the 3rd quarter. Geode Capital Management LLC now owns 4,107,769 shares of the company’s stock worth $100,332,000 after buying an additional 116,431 shares during the period. Boston Trust Walden Corp boosted its holdings in Magnolia Oil & Gas by 9.5% in the fourth quarter. Boston Trust Walden Corp now owns 3,090,587 shares of the company’s stock worth $72,258,000 after acquiring an additional 267,461 shares in the last quarter. Systematic Financial Management LP boosted its holdings in Magnolia Oil & Gas by 7.5% in the third quarter. Systematic Financial Management LP now owns 2,920,018 shares of the company’s stock worth $71,307,000 after acquiring an additional 203,514 shares in the last quarter. Finally, Principal Financial Group Inc. grew its stake in Magnolia Oil & Gas by 14.5% in the fourth quarter. Principal Financial Group Inc. now owns 2,308,825 shares of the company’s stock valued at $53,983,000 after acquiring an additional 292,865 shares during the period. 94.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on MGY. Johnson Rice lowered Magnolia Oil & Gas from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, January 28th. Bank of America reaffirmed a “neutral” rating and issued a $28.00 price objective (down from $29.00) on shares of Magnolia Oil & Gas in a research note on Monday, January 13th. Mizuho boosted their target price on shares of Magnolia Oil & Gas from $27.00 to $28.00 and gave the stock a “neutral” rating in a research report on Monday, December 16th. Truist Financial raised their price target on shares of Magnolia Oil & Gas from $33.00 to $34.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Finally, Piper Sandler boosted their price objective on Magnolia Oil & Gas from $24.00 to $26.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $27.77.

Magnolia Oil & Gas Stock Performance

MGY stock opened at $25.63 on Thursday. The company has a quick ratio of 1.47, a current ratio of 1.42 and a debt-to-equity ratio of 0.20. The firm has a market cap of $4.98 billion, a PE ratio of 13.28, a P/E/G ratio of 3.01 and a beta of 1.90. The business has a 50 day moving average of $24.13 and a 200-day moving average of $25.05. Magnolia Oil & Gas Co. has a 12-month low of $21.63 and a 12-month high of $29.02.

Magnolia Oil & Gas (NYSE:MGY) last posted its quarterly earnings data on Tuesday, February 18th. The company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.03. Magnolia Oil & Gas had a return on equity of 20.74% and a net margin of 27.82%. The business had revenue of $326.61 million for the quarter, compared to analysts’ expectations of $327.40 million. As a group, sell-side analysts expect that Magnolia Oil & Gas Co. will post 2.1 earnings per share for the current year.

Magnolia Oil & Gas Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.60 annualized dividend and a yield of 2.34%. This is a positive change from Magnolia Oil & Gas’s previous quarterly dividend of $0.13. Magnolia Oil & Gas’s dividend payout ratio is presently 31.09%.

Insider Buying and Selling

In other news, CEO Christopher G. Stavros acquired 2,500 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were acquired at an average price of $22.05 per share, for a total transaction of $55,125.00. Following the completion of the purchase, the chief executive officer now owns 892,372 shares in the company, valued at approximately $19,676,802.60. This trade represents a 0.28 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.20% of the stock is currently owned by corporate insiders.

About Magnolia Oil & Gas

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.