Gallacher Capital Management LLC Buys New Stake in Magnolia Oil & Gas Co. (NYSE:MGY)

Gallacher Capital Management LLC purchased a new stake in Magnolia Oil & Gas Co. (NYSE:MGY) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor purchased 22,773 shares of the company’s stock, valued at approximately $485,000.

Several other hedge funds also recently added to or reduced their stakes in MGY. VisionPoint Advisory Group LLC lifted its position in shares of Magnolia Oil & Gas by 112.3% during the third quarter. VisionPoint Advisory Group LLC now owns 1,537 shares of the company’s stock worth $35,000 after purchasing an additional 813 shares in the last quarter. Arlington Trust Co LLC purchased a new position in Magnolia Oil & Gas in the 4th quarter valued at about $113,000. Signaturefd LLC grew its stake in shares of Magnolia Oil & Gas by 6.7% during the third quarter. Signaturefd LLC now owns 8,325 shares of the company’s stock valued at $191,000 after acquiring an additional 523 shares in the last quarter. Fulton Bank N.A. purchased a new stake in shares of Magnolia Oil & Gas during the fourth quarter worth about $213,000. Finally, Andina Capital Management LLC acquired a new position in shares of Magnolia Oil & Gas in the fourth quarter worth about $221,000. 94.73% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Bank of America assumed coverage on Magnolia Oil & Gas in a report on Tuesday, February 27th. They set a “buy” rating and a $25.00 price objective on the stock. Truist Financial increased their price objective on shares of Magnolia Oil & Gas from $32.00 to $33.00 and gave the company a “buy” rating in a research note on Friday, February 16th. Citigroup boosted their target price on shares of Magnolia Oil & Gas from $18.00 to $22.00 and gave the stock a “sell” rating in a research report on Monday, April 15th. The Goldman Sachs Group increased their price target on shares of Magnolia Oil & Gas from $24.50 to $28.00 and gave the stock a “buy” rating in a research report on Tuesday, March 26th. Finally, Wells Fargo & Company upped their price objective on Magnolia Oil & Gas from $23.00 to $27.00 and gave the company an “equal weight” rating in a research note on Thursday, April 18th. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Magnolia Oil & Gas has a consensus rating of “Hold” and an average price target of $27.63.

Magnolia Oil & Gas Stock Performance

NYSE MGY traded up $0.20 during trading hours on Friday, reaching $25.11. The company’s stock had a trading volume of 2,220,171 shares, compared to its average volume of 2,219,084. The stock has a market cap of $5.13 billion, a PE ratio of 12.25, a PEG ratio of 1.52 and a beta of 2.03. The business has a 50-day simple moving average of $25.04 and a 200 day simple moving average of $22.59. Magnolia Oil & Gas Co. has a 52 week low of $18.72 and a 52 week high of $27.33. 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 (NYSE:MGY) last released its quarterly earnings data on Wednesday, February 14th. The company reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $322.63 million for the quarter, compared to analyst estimates of $324.95 million. Equities research analysts predict that Magnolia Oil & Gas Co. will post 2.11 earnings per share for the current fiscal year.

Magnolia Oil & Gas Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, May 13th will be issued a $0.13 dividend. The ex-dividend date is Friday, May 10th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.07%. Magnolia Oil & Gas’s dividend payout ratio (DPR) is presently 25.37%.

Magnolia Oil & Gas 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.