Valley Wealth Managers Inc. Buys 8,960 Shares of Magnolia Oil & Gas Co. (NYSE:MGY)

Valley Wealth Managers Inc. lifted its holdings in Magnolia Oil & Gas Co. (NYSE:MGY) by 1.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 682,024 shares of the company’s stock after purchasing an additional 8,960 shares during the quarter. Valley Wealth Managers Inc. owned about 0.35% of Magnolia Oil & Gas worth $15,946,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of MGY. Creative Planning raised its position in Magnolia Oil & Gas by 8.3% during the third quarter. Creative Planning now owns 68,878 shares of the company’s stock valued at $1,682,000 after acquiring an additional 5,289 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Magnolia Oil & Gas by 1.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,061,846 shares of the company’s stock worth $74,770,000 after buying an additional 50,351 shares during the last quarter. Moody Aldrich Partners LLC increased its stake in Magnolia Oil & Gas by 15.2% during the 3rd quarter. Moody Aldrich Partners LLC now owns 309,433 shares of the company’s stock worth $7,556,000 after buying an additional 40,747 shares in the last quarter. Argent Capital Management LLC raised its holdings in shares of Magnolia Oil & Gas by 35.0% during the third quarter. Argent Capital Management LLC now owns 39,290 shares of the company’s stock valued at $959,000 after acquiring an additional 10,179 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its position in shares of Magnolia Oil & Gas by 6.6% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 14,364 shares of the company’s stock valued at $351,000 after acquiring an additional 889 shares in the last quarter. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Wall Street Analyst Weigh In

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

Magnolia Oil & Gas Stock Up 1.2 %

MGY stock opened at $23.45 on Tuesday. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.20. Magnolia Oil & Gas Co. has a fifty-two week low of $20.66 and a fifty-two week high of $29.02. The stock has a market cap of $4.61 billion, a PE ratio of 11.61, a price-to-earnings-growth ratio of 2.85 and a beta of 1.98. The firm’s 50-day simple moving average is $24.34 and its 200 day simple moving average is $25.23.

Magnolia Oil & Gas Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Friday, February 14th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 2.56%. The ex-dividend date is Friday, February 14th. This is a boost from Magnolia Oil & Gas’s previous quarterly dividend of $0.13. Magnolia Oil & Gas’s payout ratio is 25.74%.

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.