Mirae Asset Global Investments Co. Ltd. Increases Position in Magnolia Oil & Gas Co. (NYSE:MGY)

Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Magnolia Oil & Gas Co. (NYSE:MGY) by 2.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 83,311 shares of the company’s stock after acquiring an additional 1,658 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Magnolia Oil & Gas were worth $1,774,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of MGY. VisionPoint Advisory Group LLC increased its position in shares of Magnolia Oil & Gas by 112.3% during the third quarter. VisionPoint Advisory Group LLC now owns 1,537 shares of the company’s stock worth $35,000 after acquiring an additional 813 shares during the period. State of Wyoming increased its position in shares of Magnolia Oil & Gas by 38.8% during the second quarter. State of Wyoming now owns 2,552 shares of the company’s stock worth $53,000 after acquiring an additional 713 shares during the period. Captrust Financial Advisors increased its position in shares of Magnolia Oil & Gas by 42.4% during the first quarter. Captrust Financial Advisors now owns 3,608 shares of the company’s stock worth $85,000 after acquiring an additional 1,075 shares during the period. UBS Group AG increased its position in shares of Magnolia Oil & Gas by 22.2% during the first quarter. UBS Group AG now owns 4,653 shares of the company’s stock worth $110,000 after acquiring an additional 846 shares during the period. Finally, Signaturefd LLC increased its position in shares of Magnolia Oil & Gas by 6.7% during the third quarter. Signaturefd LLC now owns 8,325 shares of the company’s stock worth $191,000 after acquiring an additional 523 shares during the period. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Magnolia Oil & Gas Stock Performance

NYSE MGY opened at $25.62 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.88 and a quick ratio of 1.88. Magnolia Oil & Gas Co. has a 1 year low of $18.72 and a 1 year high of $27.33. The company has a market capitalization of $5.23 billion, a PE ratio of 12.50, a P/E/G ratio of 1.58 and a beta of 2.05. The company has a fifty day moving average of $24.17 and a two-hundred day moving average of $22.38.

Magnolia Oil & Gas (NYSE:MGY) last released its quarterly earnings data on Wednesday, February 14th. The company reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.04). Magnolia Oil & Gas had a net margin of 31.65% and a return on equity of 21.21%. The company had revenue of $322.63 million during the quarter, compared to analyst estimates of $324.95 million. As a group, analysts expect that Magnolia Oil & Gas Co. will post 2.08 earnings per share for the current year.

Magnolia Oil & Gas Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 16th were paid a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 2.03%. The ex-dividend date of this dividend was Thursday, February 15th. This is an increase from Magnolia Oil & Gas’s previous quarterly dividend of $0.12. Magnolia Oil & Gas’s dividend payout ratio is currently 25.37%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Piper Sandler reaffirmed a “neutral” rating and set a $29.00 price objective on shares of Magnolia Oil & Gas in a research report on Friday. Citigroup boosted their target price on shares of Magnolia Oil & Gas from $18.00 to $22.00 and gave the stock a “sell” rating in a research note on Monday, April 15th. The Goldman Sachs Group boosted their target price on shares of Magnolia Oil & Gas from $24.50 to $28.00 and gave the stock a “buy” rating in a research note on Tuesday, March 26th. Wells Fargo & Company boosted their target price on shares of Magnolia Oil & Gas from $23.00 to $27.00 and gave the stock an “equal weight” rating in a research note on Thursday. Finally, Mizuho boosted their target price on shares of Magnolia Oil & Gas from $24.00 to $26.00 and gave the stock a “neutral” rating in a research note on Thursday, March 14th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $27.14.

About Magnolia Oil & Gas

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.