GW&K Investment Management LLC Boosts Stock Position in Magnolia Oil & Gas Corp $MGY

GW&K Investment Management LLC increased its stake in Magnolia Oil & Gas Corp (NYSE:MGY) by 14.6% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,169,496 shares of the company’s stock after buying an additional 404,402 shares during the period. GW&K Investment Management LLC’s holdings in Magnolia Oil & Gas were worth $69,381,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in MGY. Salomon & Ludwin LLC grew its stake in shares of Magnolia Oil & Gas by 130.1% in the 4th quarter. Salomon & Ludwin LLC now owns 1,344 shares of the company’s stock worth $29,000 after buying an additional 760 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Magnolia Oil & Gas by 165.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,386 shares of the company’s stock worth $31,000 after buying an additional 864 shares during the last quarter. Torren Management LLC purchased a new stake in shares of Magnolia Oil & Gas in the 4th quarter worth approximately $38,000. Parallel Advisors LLC grew its stake in shares of Magnolia Oil & Gas by 79.8% in the 4th quarter. Parallel Advisors LLC now owns 1,769 shares of the company’s stock worth $39,000 after buying an additional 785 shares during the last quarter. Finally, First Horizon Corp grew its stake in shares of Magnolia Oil & Gas by 159.8% in the 4th quarter. First Horizon Corp now owns 1,889 shares of the company’s stock worth $41,000 after buying an additional 1,162 shares during the last quarter. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Analysts Set New Price Targets

MGY has been the topic of several recent research reports. Truist Financial upped their price target on Magnolia Oil & Gas from $33.00 to $34.00 and gave the stock a “hold” rating in a research note on Monday, April 27th. KeyCorp increased their target price on Magnolia Oil & Gas from $30.00 to $38.00 and gave the company an “overweight” rating in a research note on Thursday, April 2nd. Citigroup cut their target price on Magnolia Oil & Gas from $35.00 to $32.00 and set a “neutral” rating on the stock in a research note on Monday, April 13th. Siebert Williams Shank downgraded Magnolia Oil & Gas from a “buy” rating to a “hold” rating in a research note on Friday, March 6th. Finally, UBS Group increased their target price on Magnolia Oil & Gas from $29.00 to $35.00 and gave the company a “buy” rating in a research note on Thursday, March 5th. Seven investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $31.42.

Magnolia Oil & Gas Stock Performance

Shares of MGY opened at $27.27 on Wednesday. The business’s fifty day simple moving average is $29.14 and its two-hundred day simple moving average is $26.57. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.19. Magnolia Oil & Gas Corp has a 12 month low of $21.07 and a 12 month high of $32.76. The company has a market cap of $5.04 billion, a price-to-earnings ratio of 15.85 and a beta of 0.71.

Magnolia Oil & Gas (NYSE:MGY) last issued its earnings results on Wednesday, May 6th. The company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.51 by $0.03. Magnolia Oil & Gas had a return on equity of 16.28% and a net margin of 24.40%.The business had revenue of $358.51 million for the quarter, compared to the consensus estimate of $349.89 million. During the same period last year, the business posted $0.54 EPS. The company’s revenue was up 2.3% compared to the same quarter last year. Research analysts anticipate that Magnolia Oil & Gas Corp will post 2.82 earnings per share for the current fiscal year.

Magnolia Oil & Gas Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Tuesday, May 12th were paid a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date was Tuesday, May 12th. Magnolia Oil & Gas’s dividend payout ratio (DPR) is 38.37%.

About Magnolia Oil & Gas

Magnolia Oil & Gas Corp (NYSE: MGY) is an independent exploration and production company focused on the acquisition, development and optimization of onshore oil and gas assets in South Texas. Headquartered in Houston, the company concentrates its efforts on the Eagle Ford Shale, where it holds significant working interests in key producing counties.

The company’s core operations center on horizontal drilling and multi-stage completions designed to extract light crude oil, natural gas and natural gas liquids (NGLs).