Mitsubishi UFJ Trust & Banking Corp Raises Stock Holdings in Magnolia Oil & Gas Co. (NYSE:MGY)

Mitsubishi UFJ Trust & Banking Corp raised its stake in Magnolia Oil & Gas Co. (NYSE:MGY) by 11.1% during the 4th quarter, Holdings Channel.com reports. The firm owned 35,725 shares of the company’s stock after buying an additional 3,582 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Magnolia Oil & Gas were worth $835,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in MGY. Mather Group LLC. raised its stake in shares of Magnolia Oil & Gas by 100.0% during the 4th quarter. Mather Group LLC. now owns 1,090 shares of the company’s stock worth $25,000 after acquiring an additional 545 shares in the last quarter. Larson Financial Group LLC grew its holdings in shares of Magnolia Oil & Gas by 112.3% during the fourth quarter. Larson Financial Group LLC now owns 1,072 shares of the company’s stock valued at $25,000 after buying an additional 567 shares during the last quarter. R Squared Ltd acquired a new position in shares of Magnolia Oil & Gas in the fourth quarter valued at about $43,000. Avior Wealth Management LLC increased its holdings in Magnolia Oil & Gas by 30.0% in the 4th quarter. Avior Wealth Management LLC now owns 2,194 shares of the company’s stock worth $51,000 after buying an additional 506 shares during the period. Finally, Smartleaf Asset Management LLC raised its holdings in shares of Magnolia Oil & Gas by 95.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 3,777 shares of the company’s stock worth $88,000 after purchasing an additional 1,844 shares during the last quarter. 94.73% of the stock is currently owned by institutional investors.

Magnolia Oil & Gas Price Performance

MGY stock opened at $25.52 on Wednesday. Magnolia Oil & Gas Co. has a 52-week low of $21.63 and a 52-week high of $29.02. The company has a quick ratio of 1.47, a current ratio of 1.42 and a debt-to-equity ratio of 0.20. The stock has a market cap of $4.96 billion, a price-to-earnings ratio of 13.22, a price-to-earnings-growth ratio of 3.01 and a beta of 1.90. The business has a fifty day moving average of $24.04 and a two-hundred day moving average of $25.11.

Magnolia Oil & Gas (NYSE:MGY) last issued its quarterly earnings data on Tuesday, February 18th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.03. The firm had revenue of $326.61 million for the quarter, compared to analyst estimates of $327.40 million. Magnolia Oil & Gas had a net margin of 27.82% and a return on equity of 20.74%. As a group, research analysts anticipate that Magnolia Oil & Gas Co. will post 2.1 earnings per share for the current year.

Magnolia Oil & Gas Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were given a $0.15 dividend. This is a positive change from Magnolia Oil & Gas’s previous quarterly dividend of $0.13. The ex-dividend date was Friday, February 14th. This represents a $0.60 dividend on an annualized basis and a yield of 2.35%. Magnolia Oil & Gas’s payout ratio is presently 31.09%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on MGY shares. Piper Sandler lifted their target price on shares of Magnolia Oil & Gas from $24.00 to $26.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. The Goldman Sachs Group cut Magnolia Oil & Gas from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $27.00 to $26.00 in a report on Friday, January 31st. JPMorgan Chase & Co. lowered their price target on Magnolia Oil & Gas from $28.00 to $24.00 and set a “neutral” rating on the stock in a research report on Thursday, March 13th. Bank of America restated a “neutral” rating and issued a $28.00 price objective (down from $29.00) on shares of Magnolia Oil & Gas in a research report on Monday, January 13th. Finally, Johnson Rice lowered Magnolia Oil & Gas from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, January 28th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $27.77.

Insiders Place Their Bets

In other news, CEO Christopher G. Stavros bought 2,500 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were purchased at an average price of $22.05 per share, with a total value of $55,125.00. Following the purchase, the chief executive officer now owns 892,372 shares in the company, valued at approximately $19,676,802.60. The trade was a 0.28 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.20% of the stock is owned by insiders.

About Magnolia Oil & Gas

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.