Cibc World Markets Corp Invests $379,000 in Magnolia Oil & Gas Co. (NYSE:MGY)

Cibc World Markets Corp bought a new stake in Magnolia Oil & Gas Co. (NYSE:MGY) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 16,208 shares of the company’s stock, valued at approximately $379,000.

Other institutional investors and hedge funds have also modified their holdings of the company. FMR LLC raised its stake in Magnolia Oil & Gas by 174.9% in the 3rd 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 bought a new position in shares of Magnolia Oil & Gas during the third quarter worth approximately $353,000. Charles Schwab Investment Management Inc. raised its position in shares of Magnolia Oil & Gas by 4.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,076,541 shares of the company’s stock valued at $48,550,000 after buying an additional 85,524 shares in the last quarter. Intech Investment Management LLC bought a new stake in shares of Magnolia Oil & Gas in the third quarter valued at approximately $1,252,000. Finally, Ashton Thomas Private Wealth LLC bought a new stake in shares of Magnolia Oil & Gas in the fourth quarter valued at approximately $590,000. 94.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Mizuho lifted their price objective on Magnolia Oil & Gas from $27.00 to $28.00 and gave the company a “neutral” rating in a report on Monday, December 16th. The Goldman Sachs Group cut Magnolia Oil & Gas from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $27.00 to $26.00 in a research report on Friday, January 31st. Bank of America reaffirmed a “neutral” rating and set a $28.00 price objective (down previously from $29.00) on shares of Magnolia Oil & Gas in a research report on Monday, January 13th. JPMorgan Chase & Co. decreased their target price on shares of Magnolia Oil & Gas from $28.00 to $24.00 and set a “neutral” rating on the stock in a report on Thursday, March 13th. Finally, Johnson Rice downgraded shares of Magnolia Oil & Gas from a “moderate buy” rating to a “hold” rating in a report on Tuesday, January 28th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $27.77.

Magnolia Oil & Gas Stock Down 1.2 %

Shares of NYSE:MGY opened at $25.03 on Monday. Magnolia Oil & Gas Co. has a 52-week low of $21.63 and a 52-week high of $29.02. The company has a market capitalization of $4.86 billion, a PE ratio of 12.97, a price-to-earnings-growth ratio of 3.01 and a beta of 1.90. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.47 and a current ratio of 1.42. The company has a fifty day moving average of $24.16 and a 200-day moving average of $25.02.

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

Magnolia Oil & Gas Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were paid a $0.15 dividend. The ex-dividend date was Friday, February 14th. This represents a $0.60 annualized dividend and a dividend yield of 2.40%. This is an increase from Magnolia Oil & Gas’s previous quarterly dividend of $0.13. Magnolia Oil & Gas’s dividend payout ratio is currently 31.09%.

Insider Activity at Magnolia Oil & Gas

In other Magnolia Oil & Gas news, CEO Christopher G. Stavros bought 2,500 shares of Magnolia Oil & Gas stock in a transaction on Monday, March 3rd. The shares were purchased at an average cost of $22.05 per share, with a total value of $55,125.00. Following the acquisition, the chief executive officer now directly owns 892,372 shares of the company’s stock, valued at $19,676,802.60. The trade was a 0.28 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.20% of the stock is owned by company insiders.

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.