Ethic Inc. Acquires 1,713 Shares of Magnolia Oil & Gas Co. (NYSE:MGY)

Ethic Inc. boosted its holdings in Magnolia Oil & Gas Co. (NYSE:MGY) by 18.4% in the 4th quarter, HoldingsChannel reports. The firm owned 11,006 shares of the company’s stock after purchasing an additional 1,713 shares during the quarter. Ethic Inc.’s holdings in Magnolia Oil & Gas were worth $257,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Albert D Mason Inc. raised its holdings in shares of Magnolia Oil & Gas by 0.7% during the 4th quarter. Albert D Mason Inc. now owns 61,497 shares of the company’s stock worth $1,438,000 after acquiring an additional 411 shares in the last quarter. Isthmus Partners LLC raised its holdings in shares of Magnolia Oil & Gas by 5.2% during the 4th quarter. Isthmus Partners LLC now owns 9,320 shares of the company’s stock worth $218,000 after acquiring an additional 460 shares in the last quarter. OneDigital Investment Advisors LLC raised its holdings in shares of Magnolia Oil & Gas by 3.0% during the 4th quarter. OneDigital Investment Advisors LLC now owns 15,768 shares of the company’s stock worth $369,000 after acquiring an additional 464 shares in the last quarter. Avior Wealth Management LLC raised its holdings in shares of Magnolia Oil & Gas by 30.0% during the 4th quarter. Avior Wealth Management LLC now owns 2,194 shares of the company’s stock worth $51,000 after acquiring an additional 506 shares in the last quarter. Finally, Mather Group LLC. raised its holdings in shares of Magnolia Oil & Gas by 100.0% during the 4th quarter. Mather Group LLC. now owns 1,090 shares of the company’s stock worth $25,000 after acquiring an additional 545 shares in the last quarter. 94.73% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Magnolia Oil & Gas

In other news, CEO Christopher G. Stavros purchased 2,500 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were acquired at an average price of $22.05 per share, with a total value of $55,125.00. Following the transaction, the chief executive officer now owns 892,372 shares of the company’s stock, valued at $19,676,802.60. This represents a 0.28% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.20% of the stock is currently owned by corporate insiders.

Magnolia Oil & Gas Stock Performance

Shares of Magnolia Oil & Gas stock opened at $22.64 on Friday. The stock’s fifty day moving average is $22.38 and its two-hundred day moving average is $24.08. The company has a market capitalization of $4.36 billion, a PE ratio of 11.73, a price-to-earnings-growth ratio of 3.01 and a beta of 1.25. The company has a quick ratio of 1.47, a current ratio of 1.42 and a debt-to-equity ratio of 0.20. Magnolia Oil & Gas Co. has a 52 week low of $19.09 and a 52 week high of $29.02.

Magnolia Oil & Gas (NYSE:MGY) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.53 by $0.02. The company had revenue of $350.30 million for the quarter, compared to the consensus estimate of $337.83 million. Magnolia Oil & Gas had a return on equity of 20.74% and a net margin of 27.82%. Magnolia Oil & Gas’s quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.46 EPS. As a group, analysts expect that Magnolia Oil & Gas Co. will post 2.1 earnings per share for the current year.

Magnolia Oil & Gas Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Monday, May 12th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 2.65%. The ex-dividend date of this dividend is Monday, May 12th. Magnolia Oil & Gas’s dividend payout ratio (DPR) is presently 29.85%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on MGY. Susquehanna decreased their price objective on Magnolia Oil & Gas from $31.00 to $30.00 and set a “positive” rating on the stock in a report on Tuesday, April 22nd. Citigroup decreased their price objective on Magnolia Oil & Gas from $22.00 to $19.00 and set a “sell” rating on the stock in a report on Tuesday, April 8th. UBS Group initiated coverage on Magnolia Oil & Gas in a report on Tuesday, April 22nd. They set a “buy” rating and a $26.00 price objective on the stock. Johnson Rice downgraded Magnolia Oil & Gas from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, January 28th. Finally, JPMorgan Chase & Co. cut their target price on Magnolia Oil & Gas from $28.00 to $24.00 and set a “neutral” rating on the stock in a research report on Thursday, March 13th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $27.14.

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.