Fulton Bank N.A. Acquires 1,129 Shares of Magnolia Oil & Gas Co. (NYSE:MGY)

Fulton Bank N.A. lifted its holdings in Magnolia Oil & Gas Co. (NYSE:MGY) by 10.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,534 shares of the company’s stock after acquiring an additional 1,129 shares during the period. Fulton Bank N.A.’s holdings in Magnolia Oil & Gas were worth $270,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the business. State Street Corp raised its position in shares of Magnolia Oil & Gas by 4.2% in the 3rd quarter. State Street Corp now owns 10,700,257 shares of the company’s stock worth $261,300,000 after acquiring an additional 435,326 shares in the last quarter. American Century Companies Inc. grew its stake in shares of Magnolia Oil & Gas by 9.9% in the 2nd quarter. American Century Companies Inc. now owns 9,389,368 shares of the company’s stock valued at $237,927,000 after buying an additional 847,542 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Magnolia Oil & Gas by 16.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,520,725 shares of the company’s stock valued at $114,554,000 after buying an additional 627,933 shares during the period. Geode Capital Management LLC grew its stake in shares of Magnolia Oil & Gas by 2.9% in the 3rd quarter. Geode Capital Management LLC now owns 4,107,769 shares of the company’s stock valued at $100,332,000 after buying an additional 116,431 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of 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 valued at $74,770,000 after buying an additional 50,351 shares during the period. 94.73% of the stock is owned by institutional investors.

Magnolia Oil & Gas Trading Up 2.6 %

NYSE:MGY opened at $24.90 on Friday. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $4.89 billion, a PE ratio of 12.33, a price-to-earnings-growth ratio of 1.29 and a beta of 2.00. The firm’s 50 day moving average is $25.65 and its 200 day moving average is $25.50. Magnolia Oil & Gas Co. has a 12 month low of $19.16 and a 12 month high of $29.02.

Magnolia Oil & Gas (NYSE:MGY) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.04. Magnolia Oil & Gas had a net margin of 28.88% and a return on equity of 20.78%. The company had revenue of $333.14 million for the quarter, compared to analysts’ expectations of $331.45 million. Sell-side analysts expect that Magnolia Oil & Gas Co. will post 2 earnings per share for the current year.

Magnolia Oil & Gas Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Friday, November 8th were issued a dividend of $0.13 per share. The ex-dividend date was Friday, November 8th. This represents a $0.52 dividend on an annualized basis and a yield of 2.09%. Magnolia Oil & Gas’s payout ratio is 25.74%.

Analysts Set New Price Targets

Several analysts have recently commented on MGY shares. Siebert Williams Shank downgraded Magnolia Oil & Gas from a “buy” rating to a “hold” rating and set a $30.00 target price for the company. in a research note on Tuesday, October 15th. Benchmark reiterated a “hold” rating on shares of Magnolia Oil & Gas in a research note on Tuesday, October 15th. Wells Fargo & Company downgraded Magnolia Oil & Gas from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $26.00 to $22.00 in a research note on Tuesday, October 1st. Truist Financial lifted their price target on Magnolia Oil & Gas from $31.00 to $33.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Finally, Piper Sandler cut their price target on Magnolia Oil & Gas from $26.00 to $24.00 and set a “neutral” rating for the company in a research note on Tuesday, December 17th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Magnolia Oil & Gas has a consensus rating of “Hold” and a consensus target price of $27.58.

About Magnolia Oil & Gas

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.