Boston Trust Walden Corp Acquires 267,461 Shares of Magnolia Oil & Gas Co. (NYSE:MGY)

Boston Trust Walden Corp boosted its stake in Magnolia Oil & Gas Co. (NYSE:MGY) by 9.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,090,587 shares of the company’s stock after buying an additional 267,461 shares during the period. Boston Trust Walden Corp’s holdings in Magnolia Oil & Gas were worth $72,258,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. State Street Corp grew its position in Magnolia Oil & Gas by 4.2% during the 3rd quarter. State Street Corp now owns 10,700,257 shares of the company’s stock valued at $261,300,000 after purchasing an additional 435,326 shares during the last quarter. Geode Capital Management LLC raised its stake in Magnolia Oil & Gas by 2.9% during the 3rd quarter. Geode Capital Management LLC now owns 4,107,769 shares of the company’s stock valued at $100,332,000 after purchasing an additional 116,431 shares during the period. Allspring Global Investments Holdings LLC boosted its position in shares of Magnolia Oil & Gas by 1.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 3,061,846 shares of the company’s stock worth $74,770,000 after acquiring an additional 50,351 shares during the last quarter. Systematic Financial Management LP grew its holdings in shares of Magnolia Oil & Gas by 7.5% in the third quarter. Systematic Financial Management LP now owns 2,920,018 shares of the company’s stock valued at $71,307,000 after purchasing an additional 203,514 shares in the last quarter. Finally, Loomis Sayles & Co. L P increased its holdings in shares of Magnolia Oil & Gas by 10.0% in the 3rd quarter. Loomis Sayles & Co. L P now owns 2,782,550 shares of the company’s stock worth $67,950,000 after buying an additional 253,911 shares during the last quarter. 94.73% of the stock is currently owned by institutional investors.

Magnolia Oil & Gas Stock Down 3.2 %

Shares of NYSE MGY opened at $23.71 on Monday. The business has a 50-day moving average price of $25.15 and a 200 day moving average price of $25.46. The stock has a market cap of $4.66 billion, a PE ratio of 11.74, a price-to-earnings-growth ratio of 2.98 and a beta of 1.98. Magnolia Oil & Gas Co. has a 52-week low of $19.53 and a 52-week high of $29.02. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.20.

Magnolia Oil & Gas Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Friday, February 14th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 2.53%. This is a boost from Magnolia Oil & Gas’s previous quarterly dividend of $0.13. Magnolia Oil & Gas’s dividend payout ratio (DPR) is 25.74%.

Analysts Set New Price Targets

A number of research firms recently weighed in on MGY. Mizuho increased their price objective on shares of Magnolia Oil & Gas from $27.00 to $28.00 and gave the stock a “neutral” rating in a research report on Monday, December 16th. Bank of America restated a “neutral” rating and issued a $28.00 price target (down previously from $29.00) on shares of Magnolia Oil & Gas in a report on Monday, January 13th. Truist Financial raised their price objective on Magnolia Oil & Gas from $33.00 to $34.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Johnson Rice lowered shares of Magnolia Oil & Gas from a “moderate buy” rating to a “hold” rating in a report on Tuesday, January 28th. Finally, Benchmark restated a “hold” rating on shares of Magnolia Oil & Gas in a report on Tuesday, October 15th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Magnolia Oil & Gas presently has a consensus rating of “Hold” and a consensus target price of $27.58.

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.