Mitsubishi UFJ Asset Management UK Ltd. Makes New Investment in Magnolia Oil & Gas Co. (NYSE:MGY)

Mitsubishi UFJ Asset Management UK Ltd. bought a new position in Magnolia Oil & Gas Co. (NYSE:MGY) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 39,000 shares of the company’s stock, valued at approximately $912,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Harbor Capital Advisors Inc. purchased a new position in Magnolia Oil & Gas in the 3rd quarter worth about $25,000. First Horizon Advisors Inc. raised its holdings in shares of Magnolia Oil & Gas by 64.7% during the third quarter. First Horizon Advisors Inc. now owns 1,008 shares of the company’s stock valued at $25,000 after acquiring an additional 396 shares during the period. GAMMA Investing LLC lifted its position in shares of Magnolia Oil & Gas by 62.4% in the 3rd quarter. GAMMA Investing LLC now owns 2,609 shares of the company’s stock valued at $64,000 after acquiring an additional 1,002 shares in the last quarter. Covestor Ltd boosted its stake in Magnolia Oil & Gas by 36.8% in the 3rd quarter. Covestor Ltd now owns 2,986 shares of the company’s stock worth $73,000 after purchasing an additional 804 shares during the period. Finally, Truvestments Capital LLC purchased a new position in Magnolia Oil & Gas during the 3rd quarter worth approximately $90,000. 94.73% of the stock is owned by institutional investors and hedge funds.

Magnolia Oil & Gas Stock Performance

MGY opened at $26.26 on Wednesday. Magnolia Oil & Gas Co. has a 12-month low of $19.41 and a 12-month high of $29.02. The firm has a market capitalization of $5.16 billion, a P/E ratio of 13.00, a price-to-earnings-growth ratio of 3.84 and a beta of 2.00. The stock’s 50 day moving average price is $25.58 and its two-hundred day moving average price 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 (NYSE:MGY) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.04. The business had revenue of $333.14 million for the quarter, compared to the consensus estimate of $331.45 million. Magnolia Oil & Gas had a net margin of 28.88% and a return on equity of 20.78%. On average, equities analysts forecast that Magnolia Oil & Gas Co. will post 1.99 earnings per share for the current year.

Magnolia Oil & Gas Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Friday, November 8th were given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date was Friday, November 8th. Magnolia Oil & Gas’s dividend payout ratio is currently 25.74%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on MGY shares. 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. Piper Sandler dropped their target price 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. Wells Fargo & Company cut shares of Magnolia Oil & Gas from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $26.00 to $22.00 in a report on Tuesday, October 1st. 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. Finally, Bank of America restated a “neutral” rating and issued a $28.00 target price (down previously from $29.00) on shares of Magnolia Oil & Gas in a research note on Monday, January 13th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price 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.