Blue Trust Inc. Purchases New Position in Magnolia Oil & Gas Co. (NYSE:MGY)

Blue Trust Inc. purchased a new stake in Magnolia Oil & Gas Co. (NYSE:MGY) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor purchased 16,851 shares of the company’s stock, valued at approximately $437,000.

Other large investors have also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. boosted its position in Magnolia Oil & Gas by 2.0% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 83,311 shares of the company’s stock valued at $1,774,000 after buying an additional 1,658 shares during the last quarter. Cerity Partners LLC purchased a new position in Magnolia Oil & Gas in the 4th quarter valued at about $267,000. Knights of Columbus Asset Advisors LLC boosted its position in Magnolia Oil & Gas by 50.0% in the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 367,183 shares of the company’s stock valued at $7,817,000 after buying an additional 122,371 shares during the last quarter. Signaturefd LLC boosted its position in Magnolia Oil & Gas by 11.9% in the 4th quarter. Signaturefd LLC now owns 9,313 shares of the company’s stock valued at $198,000 after buying an additional 988 shares during the last quarter. Finally, Wedge Capital Management L L P NC boosted its position in Magnolia Oil & Gas by 3.8% in the 4th quarter. Wedge Capital Management L L P NC now owns 255,438 shares of the company’s stock valued at $5,438,000 after buying an additional 9,233 shares during the last quarter. 94.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

MGY has been the subject of a number of analyst reports. Capital One Financial initiated coverage on shares of Magnolia Oil & Gas in a research report on Tuesday, June 11th. They issued an “overweight” rating and a $28.00 price objective for the company. Bank of America increased their price target on shares of Magnolia Oil & Gas from $28.00 to $29.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Truist Financial increased their price target on shares of Magnolia Oil & Gas from $34.00 to $35.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Benchmark reaffirmed a “hold” rating on shares of Magnolia Oil & Gas in a research report on Thursday, July 18th. Finally, Mizuho increased their price target on shares of Magnolia Oil & Gas from $26.00 to $28.00 and gave the stock a “neutral” rating in a research report on Monday, May 13th. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $28.70.

Magnolia Oil & Gas Stock Performance

MGY traded down $0.07 on Friday, hitting $25.07. 1,102,753 shares of the company’s stock were exchanged, compared to its average volume of 2,551,585. The firm has a market cap of $5.08 billion, a PE ratio of 12.47, a P/E/G ratio of 0.89 and a beta of 2.02. Magnolia Oil & Gas Co. has a twelve month low of $19.16 and a twelve month high of $27.63. The stock has a fifty day moving average of $25.39 and a two-hundred day moving average of $24.66. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.21.

Magnolia Oil & Gas Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Friday, August 9th will be paid a dividend of $0.13 per share. The ex-dividend date of this dividend is Friday, August 9th. This represents a $0.52 annualized dividend and a yield of 2.07%. Magnolia Oil & Gas’s dividend payout ratio (DPR) is 25.87%.

Magnolia Oil & Gas 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.