Jackson Creek Investment Advisors LLC Purchases Shares of 41,009 Magnolia Oil & Gas Co. (NYSE:MGY)

Jackson Creek Investment Advisors LLC acquired a new stake in Magnolia Oil & Gas Co. (NYSE:MGY) during the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 41,009 shares of the company’s stock, valued at approximately $873,000.

A number of other hedge funds have also recently modified their holdings of the company. VisionPoint Advisory Group LLC grew its stake in shares of Magnolia Oil & Gas by 112.3% in the third quarter. VisionPoint Advisory Group LLC now owns 1,537 shares of the company’s stock worth $35,000 after purchasing an additional 813 shares during the last quarter. Arlington Trust Co LLC bought a new position in shares of Magnolia Oil & Gas during the fourth quarter valued at approximately $113,000. Signaturefd LLC boosted its holdings in Magnolia Oil & Gas by 6.7% in the third quarter. Signaturefd LLC now owns 8,325 shares of the company’s stock valued at $191,000 after acquiring an additional 523 shares in the last quarter. Fulton Bank N.A. purchased a new stake in shares of Magnolia Oil & Gas in the 4th quarter worth about $213,000. Finally, Truvestments Capital LLC boosted its stake in shares of Magnolia Oil & Gas by 21.2% during the 3rd quarter. Truvestments Capital LLC now owns 10,992 shares of the company’s stock valued at $252,000 after purchasing an additional 1,920 shares in the last quarter. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Magnolia Oil & Gas Stock Down 5.2 %

MGY stock opened at $25.07 on Wednesday. The stock has a market capitalization of $5.12 billion, a P/E ratio of 12.23, a P/E/G ratio of 1.61 and a beta of 2.05. 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 business has a fifty day moving average price of $24.87 and a 200-day moving average price of $22.56.

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 analysts’ consensus estimates of $0.54 by ($0.04). The business had revenue of $322.63 million during the quarter, compared to analysts’ expectations of $324.95 million. Magnolia Oil & Gas had a return on equity of 21.21% and a net margin of 31.65%. Equities analysts forecast that Magnolia Oil & Gas Co. will post 2.09 earnings per share for the current fiscal year.

Magnolia Oil & Gas Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 16th were given a dividend of $0.13 per share. This is an increase from Magnolia Oil & Gas’s previous quarterly dividend of $0.12. The ex-dividend date was Thursday, February 15th. This represents a $0.52 dividend on an annualized basis and a yield of 2.07%. Magnolia Oil & Gas’s dividend payout ratio is 25.37%.

Wall Street Analysts Forecast Growth

MGY has been the subject of a number of research analyst reports. Citigroup raised their target price on Magnolia Oil & Gas from $18.00 to $22.00 and gave the company a “sell” rating in a research note on Monday, April 15th. Wells Fargo & Company increased their price target 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, April 18th. Truist Financial lifted their target price on shares of Magnolia Oil & Gas from $32.00 to $33.00 and gave the company a “buy” rating in a report on Friday, February 16th. Piper Sandler restated a “neutral” rating and issued a $29.00 price target on shares of Magnolia Oil & Gas in a research note on Friday, April 19th. Finally, Susquehanna boosted their target price on Magnolia Oil & Gas from $28.00 to $31.00 and gave the stock a “positive” rating in a report on Monday, April 22nd. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $27.63.

Magnolia Oil & Gas Company Profile

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.