M&T Bank Corp Has $592,000 Stock Position in Magnolia Oil & Gas Co. (NYSE:MGY)

M&T Bank Corp trimmed its position in Magnolia Oil & Gas Co. (NYSE:MGY) by 2.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,322 shares of the company’s stock after selling 577 shares during the quarter. M&T Bank Corp’s holdings in Magnolia Oil & Gas were worth $592,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. First Horizon Advisors Inc. boosted its holdings in shares of Magnolia Oil & Gas by 64.7% in the third quarter. First Horizon Advisors Inc. now owns 1,008 shares of the company’s stock worth $25,000 after buying an additional 396 shares during the period. Mather Group LLC. lifted its position in shares of Magnolia Oil & Gas by 100.0% in the fourth quarter. Mather Group LLC. now owns 1,090 shares of the company’s stock worth $25,000 after purchasing an additional 545 shares in the last quarter. R Squared Ltd purchased a new stake in shares of Magnolia Oil & Gas in the fourth quarter worth approximately $43,000. Avior Wealth Management LLC lifted its position 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 worth $51,000 after purchasing an additional 506 shares in the last quarter. Finally, Covestor Ltd lifted its position in shares of Magnolia Oil & Gas by 36.8% in the third quarter. Covestor Ltd now owns 2,986 shares of the company’s stock worth $73,000 after purchasing an additional 804 shares in the last quarter. 94.73% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Piper Sandler increased their price target on shares of Magnolia Oil & Gas from $24.00 to $26.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Bank of America reissued a “neutral” rating and issued a $28.00 price target (down from $29.00) on shares of Magnolia Oil & Gas in a research report on Monday, January 13th. Mizuho increased their price target 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. The Goldman Sachs Group lowered shares of Magnolia Oil & Gas from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $27.00 to $26.00 in a research report on Friday, January 31st. Finally, Truist Financial raised their price objective 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. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Magnolia Oil & Gas has an average rating of “Hold” and an average target price of $27.69.

Magnolia Oil & Gas Trading Up 0.9 %

NYSE:MGY opened at $23.10 on Thursday. Magnolia Oil & Gas Co. has a 12 month low of $21.63 and a 12 month high of $29.02. The firm has a market cap of $4.48 billion, a price-to-earnings ratio of 11.97, a P/E/G ratio of 3.01 and a beta of 1.90. 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 company’s 50 day moving average is $24.15 and its 200-day moving average is $25.08.

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

Magnolia Oil & Gas Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were given a $0.15 dividend. This is a positive change from Magnolia Oil & Gas’s previous quarterly dividend of $0.13. The ex-dividend date was Friday, February 14th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.60%. Magnolia Oil & Gas’s dividend payout ratio (DPR) is currently 31.09%.

Insider Activity

In related news, CEO Christopher G. Stavros acquired 2,500 shares of the stock in a transaction dated 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. The trade was a 0.28 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.20% of the company’s stock.

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.