Gallacher Capital Management LLC Buys Shares of 22,773 Magnolia Oil & Gas Co. (NYSE:MGY)

Gallacher Capital Management LLC purchased a new position in Magnolia Oil & Gas Co. (NYSE:MGY) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 22,773 shares of the company’s stock, valued at approximately $485,000.

A number of other hedge funds also recently modified their holdings of the business. Los Angeles Capital Management LLC lifted its position in Magnolia Oil & Gas by 280.6% in the 4th quarter. Los Angeles Capital Management LLC now owns 48,635 shares of the company’s stock valued at $1,035,000 after acquiring an additional 35,856 shares in the last quarter. Andina Capital Management LLC acquired a new stake in shares of Magnolia Oil & Gas in the 4th quarter valued at about $221,000. Victory Capital Management Inc. lifted its holdings in shares of Magnolia Oil & Gas by 2.1% in the fourth quarter. Victory Capital Management Inc. now owns 6,162,526 shares of the company’s stock valued at $131,200,000 after purchasing an additional 128,097 shares in the last quarter. Jackson Creek Investment Advisors LLC acquired a new position in shares of Magnolia Oil & Gas during the fourth quarter worth about $873,000. Finally, Anchor Capital Advisors LLC grew its holdings in shares of Magnolia Oil & Gas by 37.9% during the fourth quarter. Anchor Capital Advisors LLC now owns 93,279 shares of the company’s stock worth $1,986,000 after buying an additional 25,641 shares in the last quarter. Institutional investors and hedge funds own 94.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on MGY shares. Wells Fargo & Company lifted their price objective on shares of Magnolia Oil & Gas from $23.00 to $27.00 and gave the company an “equal weight” rating in a report on Thursday, April 18th. Piper Sandler reiterated a “neutral” rating and issued a $29.00 price target on shares of Magnolia Oil & Gas in a research note on Friday, April 19th. The Goldman Sachs Group increased their price objective on shares of Magnolia Oil & Gas from $24.50 to $28.00 and gave the stock a “buy” rating in a research note on Tuesday, March 26th. Susquehanna lifted their target price on Magnolia Oil & Gas from $28.00 to $31.00 and gave the company a “positive” rating in a research report on Monday, April 22nd. Finally, Citigroup upped their target price on Magnolia Oil & Gas from $18.00 to $22.00 and gave the stock a “sell” rating in a report on Monday, April 15th. One equities research 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, the company currently has a consensus rating of “Hold” and an average price target of $27.63.

Magnolia Oil & Gas Stock Performance

Magnolia Oil & Gas stock traded up $0.20 during midday trading on Friday, reaching $25.11. 2,220,171 shares of the company’s stock were exchanged, compared to its average volume of 2,219,084. The stock’s 50-day simple moving average is $25.04 and its 200 day simple moving average is $22.59. The firm has a market cap of $5.13 billion, a price-to-earnings ratio of 12.25, a P/E/G ratio of 1.52 and a beta of 2.03. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.88 and a current ratio of 1.88. Magnolia Oil & Gas Co. has a 52 week low of $18.72 and a 52 week high of $27.33.

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). The business had revenue of $322.63 million during the quarter, compared to analyst estimates of $324.95 million. Magnolia Oil & Gas had a net margin of 31.65% and a return on equity of 21.21%. On average, analysts expect that Magnolia Oil & Gas Co. will post 2.11 earnings per share for the current fiscal year.

Magnolia Oil & Gas Dividend Announcement

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