Hilton Capital Management LLC Increases Stake in Magnolia Oil & Gas Co. (NYSE:MGY)

Hilton Capital Management LLC grew its position in Magnolia Oil & Gas Co. (NYSE:MGY) by 4.5% in the 4th quarter, Holdings Channel reports. The institutional investor owned 42,263 shares of the company’s stock after purchasing an additional 1,822 shares during the quarter. Hilton Capital Management LLC’s holdings in Magnolia Oil & Gas were worth $988,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vestcor Inc raised its holdings in Magnolia Oil & Gas by 65.9% in the 4th quarter. Vestcor Inc now owns 33,559 shares of the company’s stock worth $785,000 after acquiring an additional 13,325 shares during the last quarter. Swiss National Bank raised its stake in shares of Magnolia Oil & Gas by 4.8% in the fourth quarter. Swiss National Bank now owns 351,500 shares of the company’s stock worth $8,218,000 after purchasing an additional 16,000 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Magnolia Oil & Gas by 62.1% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 590,641 shares of the company’s stock valued at $13,809,000 after purchasing an additional 226,277 shares in the last quarter. HighTower Advisors LLC boosted its position in shares of Magnolia Oil & Gas by 6.4% during the fourth quarter. HighTower Advisors LLC now owns 15,106 shares of the company’s stock valued at $353,000 after buying an additional 906 shares during the last quarter. Finally, Isthmus Partners LLC increased its holdings in Magnolia Oil & Gas by 5.2% in the 4th quarter. Isthmus Partners LLC now owns 9,320 shares of the company’s stock worth $218,000 after buying an additional 460 shares in the last quarter. Institutional investors own 94.73% of the company’s stock.

Magnolia Oil & Gas Stock Up 3.2 %

Shares of MGY stock opened at $23.27 on Friday. The company has a market capitalization of $4.52 billion, a price-to-earnings ratio of 12.06, a PEG ratio of 3.01 and a beta of 1.90. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.42 and a quick ratio of 1.47. The company’s fifty day moving average price is $24.12 and its 200-day moving average price is $25.05. Magnolia Oil & Gas Co. has a one year low of $21.63 and a one year high of $29.02.

Magnolia Oil & Gas (NYSE:MGY) last posted its quarterly earnings results on Tuesday, February 18th. The company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.03. The business had revenue of $326.61 million for the quarter, compared to analysts’ expectations of $327.40 million. Magnolia Oil & Gas had a return on equity of 20.74% and a net margin of 27.82%. Sell-side analysts expect that Magnolia Oil & Gas Co. will post 2.1 EPS for the current fiscal year.

Magnolia Oil & Gas Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 2.58%. This is an increase from Magnolia Oil & Gas’s previous quarterly dividend of $0.13. The ex-dividend date was Friday, February 14th. Magnolia Oil & Gas’s dividend payout ratio is presently 31.09%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on MGY. Williams Trading set a $29.00 target price on shares of Magnolia Oil & Gas in a research note on Wednesday, March 5th. Truist Financial raised their target price on shares of Magnolia Oil & Gas from $33.00 to $34.00 and gave the stock a “buy” rating in a report on Monday, January 13th. JPMorgan Chase & Co. decreased their target price on shares of Magnolia Oil & Gas from $28.00 to $24.00 and set a “neutral” rating for the company in a research note on Thursday. The Goldman Sachs Group downgraded Magnolia Oil & Gas from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $27.00 to $26.00 in a research note on Friday, January 31st. Finally, Johnson Rice lowered Magnolia Oil & Gas from a “moderate buy” rating to a “hold” rating in a report on Tuesday, January 28th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Magnolia Oil & Gas currently has a consensus rating of “Hold” and an average target price of $27.77.

Insider Buying and Selling at Magnolia Oil & Gas

In related news, CEO Christopher G. Stavros purchased 2,500 shares of the firm’s stock in a transaction on Monday, March 3rd. The shares were acquired at an average price of $22.05 per share, for a total transaction of $55,125.00. Following the purchase, the chief executive officer now directly owns 892,372 shares in the company, valued at $19,676,802.60. This trade represents a 0.28 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 1.20% of the company’s stock.

Magnolia Oil & Gas Company Profile

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.