Orion Portfolio Solutions LLC Has $2.79 Million Stock Holdings in Magnolia Oil & Gas Co. (NYSE:MGY)

Orion Portfolio Solutions LLC lowered its position in shares of Magnolia Oil & Gas Co. (NYSE:MGY) by 6.2% in the fourth quarter, HoldingsChannel reports. The fund owned 119,315 shares of the company’s stock after selling 7,866 shares during the period. Orion Portfolio Solutions LLC’s holdings in Magnolia Oil & Gas were worth $2,790,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Pictet Asset Management Holding SA raised its holdings in Magnolia Oil & Gas by 10.3% during the 4th quarter. Pictet Asset Management Holding SA now owns 25,067 shares of the company’s stock worth $586,000 after purchasing an additional 2,348 shares during the last quarter. New Age Alpha Advisors LLC bought a new stake in shares of Magnolia Oil & Gas during the fourth quarter worth approximately $258,000. JPMorgan Chase & Co. lifted its holdings in Magnolia Oil & Gas by 20.4% in the fourth quarter. JPMorgan Chase & Co. now owns 863,915 shares of the company’s stock valued at $20,198,000 after buying an additional 146,421 shares during the period. Elo Mutual Pension Insurance Co bought a new position in Magnolia Oil & Gas in the fourth quarter valued at approximately $457,000. Finally, Mitsubishi UFJ Trust & Banking Corp grew its holdings in Magnolia Oil & Gas by 11.1% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 35,725 shares of the company’s stock worth $835,000 after acquiring an additional 3,582 shares during the period. Institutional investors and hedge funds own 94.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Piper Sandler raised their price target on Magnolia Oil & Gas from $24.00 to $26.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. JPMorgan Chase & Co. decreased their target price on Magnolia Oil & Gas from $28.00 to $24.00 and set a “neutral” rating for the company in a research report on Thursday, March 13th. Williams Trading set a $29.00 price objective on shares of Magnolia Oil & Gas in a research note on Wednesday, March 5th. The Goldman Sachs Group downgraded shares of Magnolia Oil & Gas from a “buy” rating to a “neutral” rating and lowered their target price for the company from $27.00 to $26.00 in a research note on Friday, January 31st. Finally, Truist Financial lifted their price target on shares of Magnolia Oil & Gas from $33.00 to $34.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $27.77.

Magnolia Oil & Gas Stock Performance

MGY opened at $25.26 on Tuesday. The company has a market capitalization of $4.91 billion, a price-to-earnings ratio of 13.09, a P/E/G ratio of 3.01 and a beta of 1.90. The business’s 50-day moving average price is $24.05 and its two-hundred day moving average price is $25.10. Magnolia Oil & Gas Co. has a 1 year low of $21.63 and a 1 year high of $29.02. 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 announced its earnings results on Tuesday, February 18th. The company reported $0.49 earnings per share (EPS) for the quarter, beating 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%. Equities analysts expect that Magnolia Oil & Gas Co. will post 2.1 EPS for the current fiscal year.

Magnolia Oil & Gas Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were given a $0.15 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.60 dividend on an annualized basis and a yield of 2.37%. This is an increase from Magnolia Oil & Gas’s previous quarterly dividend of $0.13. Magnolia Oil & Gas’s dividend payout ratio (DPR) is 31.09%.

Insider Buying and Selling at Magnolia Oil & Gas

In related news, CEO Christopher G. Stavros purchased 2,500 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was purchased at an average cost of $22.05 per share, for a total transaction of $55,125.00. Following the completion of the purchase, the chief executive officer now directly owns 892,372 shares in the company, valued at $19,676,802.60. This trade represents a 0.28 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.20% of the company’s stock.

Magnolia Oil & Gas Company 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.