Oliver Luxxe Assets LLC Raises Holdings in Magnolia Oil & Gas Co. (NYSE:MGY)

Oliver Luxxe Assets LLC lifted its position in shares of Magnolia Oil & Gas Co. (NYSE:MGY) by 6.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 93,048 shares of the company’s stock after acquiring an additional 5,424 shares during the quarter. Oliver Luxxe Assets LLC’s holdings in Magnolia Oil & Gas were worth $2,175,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. FMR LLC increased its stake in shares of Magnolia Oil & Gas by 174.9% in the third quarter. FMR LLC now owns 34,851 shares of the company’s stock worth $851,000 after purchasing an additional 22,171 shares in the last quarter. HighTower Advisors LLC purchased a new position in Magnolia Oil & Gas in the 3rd quarter valued at approximately $353,000. Ensign Peak Advisors Inc lifted its position in shares of Magnolia Oil & Gas by 5.6% during the second quarter. Ensign Peak Advisors Inc now owns 68,919 shares of the company’s stock worth $1,746,000 after acquiring an additional 3,630 shares in the last quarter. Intech Investment Management LLC purchased a new stake in shares of Magnolia Oil & Gas during the third quarter worth $1,252,000. Finally, Barrow Hanley Mewhinney & Strauss LLC boosted its holdings in shares of Magnolia Oil & Gas by 2.5% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 596,975 shares of the company’s stock worth $15,127,000 after acquiring an additional 14,824 shares during the period. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Piper Sandler dropped their price objective on Magnolia Oil & Gas from $26.00 to $24.00 and set a “neutral” rating on the stock in a report on Tuesday, December 17th. Truist Financial upped their target price on shares of Magnolia Oil & Gas from $31.00 to $33.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Mizuho raised 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. Siebert Williams Shank cut shares of Magnolia Oil & Gas from a “buy” rating to a “hold” rating and set a $30.00 price target on the stock. in a report on Tuesday, October 15th. Finally, Benchmark reissued a “hold” rating on shares of Magnolia Oil & Gas in a research note on Tuesday, October 15th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, Magnolia Oil & Gas has a consensus rating of “Hold” and an average price target of $27.58.

Magnolia Oil & Gas Price Performance

Shares of NYSE MGY traded down $0.21 during trading hours on Monday, reaching $23.76. 829,736 shares of the stock traded hands, compared to its average volume of 1,275,641. The company has a market capitalization of $4.67 billion, a P/E ratio of 11.76, a price-to-earnings-growth ratio of 1.29 and a beta of 2.00. The company’s 50-day simple moving average is $25.76 and its two-hundred day simple moving average is $25.52. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.20. Magnolia Oil & Gas Co. has a 52-week low of $19.16 and a 52-week high of $29.02.

Magnolia Oil & Gas (NYSE:MGY) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.48 by $0.04. Magnolia Oil & Gas had a return on equity of 20.78% and a net margin of 28.88%. The firm had revenue of $333.14 million for the quarter, compared to the consensus estimate of $331.45 million. Equities research analysts forecast that Magnolia Oil & Gas Co. will post 2 EPS for the current year.

Magnolia Oil & Gas Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Friday, November 8th were given a dividend of $0.13 per share. The ex-dividend date was Friday, November 8th. This represents a $0.52 annualized dividend and a yield of 2.19%. Magnolia Oil & Gas’s payout ratio is currently 25.74%.

Magnolia Oil & Gas Company Profile

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.