Knights of Columbus Asset Advisors LLC Increases Stock Position in Magnolia Oil & Gas Co. (NYSE:MGY)

Knights of Columbus Asset Advisors LLC boosted its holdings in Magnolia Oil & Gas Co. (NYSE:MGY) by 50.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 367,183 shares of the company’s stock after buying an additional 122,371 shares during the period. Knights of Columbus Asset Advisors LLC owned approximately 0.18% of Magnolia Oil & Gas worth $7,817,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of MGY. First Trust Advisors LP raised its stake in shares of Magnolia Oil & Gas by 562.8% during the 1st quarter. First Trust Advisors LP now owns 8,926,500 shares of the company’s stock valued at $195,312,000 after purchasing an additional 7,579,743 shares during the period. BlackRock Inc. grew its stake in Magnolia Oil & Gas by 32.5% during the first quarter. BlackRock Inc. now owns 16,647,384 shares of the company’s stock valued at $364,245,000 after acquiring an additional 4,086,152 shares in the last quarter. abrdn plc bought a new stake in Magnolia Oil & Gas during the 3rd quarter worth approximately $28,249,000. American Century Companies Inc. lifted its stake in Magnolia Oil & Gas by 24.7% in the 3rd quarter. American Century Companies Inc. now owns 6,009,953 shares of the company’s stock worth $137,688,000 after purchasing an additional 1,188,536 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new position in Magnolia Oil & Gas in the 1st quarter valued at $22,016,000. Institutional investors own 94.73% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on MGY shares. Truist Financial increased their price objective on Magnolia Oil & Gas from $32.00 to $33.00 and gave the stock a “buy” rating in a research report on Friday, February 16th. The Goldman Sachs Group raised their price target on Magnolia Oil & Gas from $24.50 to $28.00 and gave the company a “buy” rating in a report on Tuesday, March 26th. Mizuho boosted their price objective on Magnolia Oil & Gas from $24.00 to $26.00 and gave the stock a “neutral” rating in a report on Thursday, March 14th. Wells Fargo & Company raised their target price on shares of Magnolia Oil & Gas from $23.00 to $27.00 and gave the company an “equal weight” rating in a research note on Thursday. Finally, Bank of America assumed coverage on shares of Magnolia Oil & Gas in a research note on Tuesday, February 27th. They issued a “buy” rating and a $25.00 price target for the company. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $27.14.

Magnolia Oil & Gas Price Performance

MGY traded up $0.03 during midday trading on Friday, hitting $25.71. The stock had a trading volume of 1,102,868 shares, compared to its average volume of 3,239,083. 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 cap of $5.25 billion, a P/E ratio of 12.52, a price-to-earnings-growth ratio of 1.59 and a beta of 2.05. The business has a fifty day moving average of $23.96 and a 200 day moving average of $22.33. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.88 and a current ratio of 1.88.

Magnolia Oil & Gas (NYSE:MGY) last issued its earnings results on Wednesday, February 14th. The company reported $0.50 earnings per share 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 for the quarter, compared to analysts’ expectations of $324.95 million. As a group, equities analysts forecast that Magnolia Oil & Gas Co. will post 2.08 earnings per share for the current fiscal year.

Magnolia Oil & Gas Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 16th were issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date of this dividend was Thursday, February 15th. This is a positive change from Magnolia Oil & Gas’s previous quarterly dividend of $0.12. Magnolia Oil & Gas’s dividend payout ratio (DPR) is 25.37%.

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.