Truist Financial Corp Acquires 1,521 Shares of Magnolia Oil & Gas Co. (NYSE:MGY)

Truist Financial Corp grew its holdings in Magnolia Oil & Gas Co. (NYSE:MGY) by 1.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 122,272 shares of the company’s stock after purchasing an additional 1,521 shares during the quarter. Truist Financial Corp owned approximately 0.06% of Magnolia Oil & Gas worth $2,603,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of MGY. VisionPoint Advisory Group LLC grew its stake in Magnolia Oil & Gas by 112.3% in the third quarter. VisionPoint Advisory Group LLC now owns 1,537 shares of the company’s stock valued at $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 4th quarter worth approximately $113,000. Signaturefd LLC raised its stake in shares of Magnolia Oil & Gas by 6.7% during the 3rd quarter. Signaturefd LLC now owns 8,325 shares of the company’s stock worth $191,000 after acquiring an additional 523 shares in the last quarter. Fulton Bank N.A. purchased a new stake in Magnolia Oil & Gas during the fourth quarter valued at approximately $213,000. Finally, Truvestments Capital LLC boosted its stake in Magnolia Oil & Gas by 21.2% in the third quarter. Truvestments Capital LLC now owns 10,992 shares of the company’s stock valued at $252,000 after acquiring 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 Up 0.3 %

NYSE:MGY opened at $25.87 on Thursday. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.21. Magnolia Oil & Gas Co. has a twelve month low of $18.91 and a twelve month high of $27.33. The company’s 50 day moving average is $25.26 and its two-hundred day moving average is $22.65. The company has a market cap of $5.28 billion, a PE ratio of 12.62, a P/E/G ratio of 1.52 and a beta of 2.03.

Magnolia Oil & Gas (NYSE:MGY) last announced its quarterly earnings data on Wednesday, February 14th. The company reported $0.50 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.04). Magnolia Oil & Gas had a net margin of 31.65% and a return on equity of 21.21%. The business had revenue of $322.63 million for the quarter, compared to analyst estimates of $324.95 million. Analysts anticipate that Magnolia Oil & Gas Co. will post 2.11 EPS for the current year.

Magnolia Oil & Gas Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Monday, May 13th will be paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 2.01%. The ex-dividend date is Friday, May 10th. Magnolia Oil & Gas’s payout ratio is 25.37%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on MGY shares. Citigroup upped their price target on Magnolia Oil & Gas from $18.00 to $22.00 and gave the stock a “sell” rating in a research report on Monday, April 15th. Wells Fargo & Company raised their price target on Magnolia Oil & Gas from $23.00 to $27.00 and gave the stock an “equal weight” rating in a report on Thursday, April 18th. Benchmark restated a “hold” rating on shares of Magnolia Oil & Gas in a report on Tuesday, April 23rd. Bank of America assumed coverage on shares of Magnolia Oil & Gas in a research note on Tuesday, February 27th. They issued a “buy” rating and a $25.00 target price for the company. Finally, Truist Financial boosted their target price on shares of Magnolia Oil & Gas from $32.00 to $33.00 and gave the stock a “buy” rating in a research report on Friday, February 16th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price 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.