TD Asset Management Inc Has $124.16 Million Position in Magnolia Oil & Gas Corp $MGY

TD Asset Management Inc raised its stake in shares of Magnolia Oil & Gas Corp (NYSE:MGY) by 26.6% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 5,671,819 shares of the company’s stock after purchasing an additional 1,193,458 shares during the period. TD Asset Management Inc’s holdings in Magnolia Oil & Gas were worth $124,156,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. Lido Advisors LLC boosted its stake in shares of Magnolia Oil & Gas by 2.4% during the 4th quarter. Lido Advisors LLC now owns 16,197 shares of the company’s stock valued at $382,000 after buying an additional 387 shares during the period. Anchor Capital Advisors LLC boosted its stake in shares of Magnolia Oil & Gas by 21.3% during the 4th quarter. Anchor Capital Advisors LLC now owns 120,421 shares of the company’s stock valued at $2,636,000 after buying an additional 21,173 shares during the period. CIBC Asset Management Inc boosted its stake in shares of Magnolia Oil & Gas by 79.3% during the 4th quarter. CIBC Asset Management Inc now owns 17,823 shares of the company’s stock valued at $390,000 after buying an additional 7,885 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Magnolia Oil & Gas by 10.8% during the 4th quarter. Bank of New York Mellon Corp now owns 1,964,998 shares of the company’s stock valued at $43,014,000 after buying an additional 191,868 shares during the period. Finally, SBI Okasan Asset Management Co.Ltd. acquired a new stake in shares of Magnolia Oil & Gas during the 4th quarter valued at $123,000. Institutional investors and hedge funds own 94.73% of the company’s stock.

Insider Transactions at Magnolia Oil & Gas

In related news, Director Edward P. Djerejian sold 18,000 shares of Magnolia Oil & Gas stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $28.98, for a total value of $521,640.00. Following the transaction, the director owned 110,425 shares in the company, valued at $3,200,116.50. This trade represents a 14.02% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Timothy D. Yang sold 150,000 shares of Magnolia Oil & Gas stock in a transaction on Monday, March 9th. The stock was sold at an average price of $29.29, for a total transaction of $4,393,500.00. Following the completion of the transaction, the executive vice president owned 526,661 shares in the company, valued at $15,425,900.69. This trade represents a 22.17% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 338,954 shares of company stock worth $9,911,733. Corporate insiders own 0.92% of the company’s stock.

Magnolia Oil & Gas Stock Performance

Shares of MGY opened at $28.25 on Friday. The company has a market capitalization of $5.23 billion, a PE ratio of 16.43 and a beta of 0.71. Magnolia Oil & Gas Corp has a one year low of $21.07 and a one year high of $32.76. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.10 and a quick ratio of 1.10. The company’s fifty day moving average price is $29.40 and its 200 day moving average price is $26.46.

Magnolia Oil & Gas (NYSE:MGY) last announced its earnings results on Wednesday, May 6th. The company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.51 by $0.03. The firm had revenue of $358.51 million for the quarter, compared to the consensus estimate of $349.89 million. Magnolia Oil & Gas had a net margin of 24.40% and a return on equity of 16.28%. The business’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.54 EPS. As a group, analysts expect that Magnolia Oil & Gas Corp will post 2.85 earnings per share for the current year.

Magnolia Oil & Gas Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Tuesday, May 12th were issued a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 2.3%. The ex-dividend date was Tuesday, May 12th. Magnolia Oil & Gas’s dividend payout ratio (DPR) is 38.37%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on MGY shares. Piper Sandler lifted their price objective on shares of Magnolia Oil & Gas from $28.00 to $31.00 and gave the company a “neutral” rating in a research note on Thursday, March 12th. Wells Fargo & Company reduced their price objective on shares of Magnolia Oil & Gas from $32.00 to $31.00 and set an “equal weight” rating for the company in a research note on Wednesday, May 13th. KeyCorp lifted their price objective on shares of Magnolia Oil & Gas from $30.00 to $38.00 and gave the company an “overweight” rating in a research note on Thursday, April 2nd. Zacks Research lowered shares of Magnolia Oil & Gas from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 19th. Finally, Weiss Ratings lowered shares of Magnolia Oil & Gas from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, May 21st. Seven analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $31.42.

Magnolia Oil & Gas Company Profile

Magnolia Oil & Gas Corp (NYSE: MGY) is an independent exploration and production company focused on the acquisition, development and optimization of onshore oil and gas assets in South Texas. Headquartered in Houston, the company concentrates its efforts on the Eagle Ford Shale, where it holds significant working interests in key producing counties.

The company’s core operations center on horizontal drilling and multi-stage completions designed to extract light crude oil, natural gas and natural gas liquids (NGLs).