Doheny Asset Management CA Has $920,000 Stock Position in Magnolia Oil & Gas Co. (NYSE:MGY)

Doheny Asset Management CA cut its stake in shares of Magnolia Oil & Gas Co. (NYSE:MGY) by 4.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 43,230 shares of the company’s stock after selling 2,020 shares during the period. Doheny Asset Management CA’s holdings in Magnolia Oil & Gas were worth $920,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. SG Americas Securities LLC raised its holdings in Magnolia Oil & Gas by 537.3% during the third quarter. SG Americas Securities LLC now owns 41,187 shares of the company’s stock worth $944,000 after acquiring an additional 34,724 shares in the last quarter. Commonwealth Equity Services LLC grew its position in shares of Magnolia Oil & Gas by 7.8% in the third quarter. Commonwealth Equity Services LLC now owns 115,205 shares of the company’s stock valued at $2,639,000 after purchasing an additional 8,365 shares during the last quarter. Raymond James & Associates grew its position in shares of Magnolia Oil & Gas by 12.4% in the third quarter. Raymond James & Associates now owns 371,743 shares of the company’s stock valued at $8,517,000 after purchasing an additional 41,037 shares during the last quarter. Argent Capital Management LLC grew its position in shares of Magnolia Oil & Gas by 29.0% in the third quarter. Argent Capital Management LLC now owns 14,818 shares of the company’s stock valued at $339,000 after purchasing an additional 3,332 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of Magnolia Oil & Gas by 4.5% in the third quarter. Bank of New York Mellon Corp now owns 1,302,941 shares of the company’s stock valued at $29,850,000 after purchasing an additional 55,922 shares during the last quarter. 94.73% of the stock is owned by institutional investors and hedge funds.

Magnolia Oil & Gas Price Performance

NYSE MGY traded up $0.39 during trading on Thursday, hitting $24.98. 954,228 shares of the company’s stock were exchanged, compared to its average volume of 3,121,214. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.21. The company has a market cap of $5.10 billion, a PE ratio of 12.00, a P/E/G ratio of 1.53 and a beta of 2.03. Magnolia Oil & Gas Co. has a fifty-two week low of $18.72 and a fifty-two week high of $27.33. The stock’s 50 day moving average price is $24.92 and its two-hundred day moving average price is $22.58.

Magnolia Oil & Gas (NYSE:MGY) last issued its earnings results on Wednesday, February 14th. The company reported $0.50 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.04). The business had revenue of $322.63 million for the quarter, compared to analyst estimates of $324.95 million. Magnolia Oil & Gas had a return on equity of 21.21% and a net margin of 31.65%. Research analysts expect that Magnolia Oil & Gas Co. will post 2.09 EPS for the current year.

Magnolia Oil & Gas Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 16th were paid a $0.13 dividend. The ex-dividend date was Thursday, February 15th. This represents a $0.52 annualized dividend and a dividend yield of 2.08%. This is an increase from Magnolia Oil & Gas’s previous quarterly dividend of $0.12. Magnolia Oil & Gas’s dividend payout ratio is currently 25.37%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on MGY. Susquehanna increased their price target on Magnolia Oil & Gas from $28.00 to $31.00 and gave the stock a “positive” rating in a research report on Monday, April 22nd. Truist Financial increased their price target on Magnolia Oil & Gas from $32.00 to $33.00 and gave the stock a “buy” rating in a research report on Friday, February 16th. Piper Sandler reissued a “neutral” rating and set a $29.00 price target on shares of Magnolia Oil & Gas in a research report on Friday, April 19th. Benchmark reissued a “hold” rating on shares of Magnolia Oil & Gas in a research report on Tuesday, April 23rd. Finally, The Goldman Sachs Group increased their price target on Magnolia Oil & Gas from $24.50 to $28.00 and gave the stock a “buy” rating in a research report on Tuesday, March 26th. One analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $27.63.

Magnolia Oil & Gas Company 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.