Oppenheimer Asset Management Inc. Has $892,000 Stock Holdings in Magnolia Oil & Gas Co. (NYSE:MGY)

Oppenheimer Asset Management Inc. increased its holdings in shares of Magnolia Oil & Gas Co. (NYSE:MGY) by 1.8% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 38,146 shares of the company’s stock after purchasing an additional 663 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Magnolia Oil & Gas were worth $892,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. First Horizon Advisors Inc. lifted its position in shares of Magnolia Oil & Gas by 64.7% during the 3rd quarter. First Horizon Advisors Inc. now owns 1,008 shares of the company’s stock worth $25,000 after purchasing an additional 396 shares during the last quarter. Albert D Mason Inc. increased its stake in Magnolia Oil & Gas by 0.7% during the fourth quarter. Albert D Mason Inc. now owns 61,497 shares of the company’s stock valued at $1,438,000 after acquiring an additional 411 shares during the period. Jennison Associates LLC increased its stake in Magnolia Oil & Gas by 2.2% during the third quarter. Jennison Associates LLC now owns 23,836 shares of the company’s stock valued at $582,000 after acquiring an additional 506 shares during the period. Avior Wealth Management LLC increased its stake in Magnolia Oil & Gas by 30.0% during the fourth quarter. Avior Wealth Management LLC now owns 2,194 shares of the company’s stock valued at $51,000 after acquiring an additional 506 shares during the period. Finally, Atria Investments Inc increased its stake in Magnolia Oil & Gas by 2.3% during the third quarter. Atria Investments Inc now owns 23,576 shares of the company’s stock valued at $576,000 after acquiring an additional 523 shares during the period. Institutional investors and hedge funds own 94.73% of the company’s stock.

Magnolia Oil & Gas Stock Up 1.5 %

NYSE MGY opened at $22.60 on Wednesday. The firm has a market cap of $4.39 billion, a PE ratio of 11.71, a price-to-earnings-growth ratio of 3.01 and a beta of 1.90. Magnolia Oil & Gas Co. has a one year low of $21.63 and a one year high of $29.02. The stock’s 50 day simple moving average is $24.19 and its 200 day simple moving average is $25.18. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.42 and a quick ratio of 1.47.

Magnolia Oil & Gas (NYSE:MGY) last released its quarterly earnings results on Tuesday, February 18th. The company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.03. The business had revenue of $326.61 million for the quarter, compared to analyst estimates of $327.40 million. Magnolia Oil & Gas had a return on equity of 20.74% and a net margin of 27.82%. As a group, sell-side analysts forecast that Magnolia Oil & Gas Co. will post 2.1 earnings per share for the current fiscal year.

Magnolia Oil & Gas Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were issued a dividend of $0.15 per share. This is an increase from Magnolia Oil & Gas’s previous quarterly dividend of $0.13. The ex-dividend date was Friday, February 14th. This represents a $0.60 annualized dividend and a yield of 2.66%. Magnolia Oil & Gas’s dividend payout ratio is currently 31.09%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Truist Financial boosted their price target on Magnolia Oil & Gas from $33.00 to $34.00 and gave the company a “buy” rating in a research note on Monday, January 13th. The Goldman Sachs Group lowered Magnolia Oil & Gas from a “buy” rating to a “neutral” rating and lowered their price target for the company from $27.00 to $26.00 in a research note on Friday, January 31st. Johnson Rice lowered Magnolia Oil & Gas from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, January 28th. Bank of America reiterated a “neutral” rating and issued a $28.00 price objective (down from $29.00) on shares of Magnolia Oil & Gas in a research note on Monday, January 13th. Finally, Mizuho upped their price objective on Magnolia Oil & Gas from $27.00 to $28.00 and gave the company a “neutral” rating in a research note on Monday, December 16th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $27.58.

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.