Entropy Technologies LP Grows Position in Magnolia Oil & Gas Co. (NYSE:MGY)

Entropy Technologies LP boosted its holdings in Magnolia Oil & Gas Co. (NYSE:MGY) by 118.3% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 26,503 shares of the company’s stock after buying an additional 14,365 shares during the quarter. Entropy Technologies LP’s holdings in Magnolia Oil & Gas were worth $620,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of MGY. Harbor Capital Advisors Inc. bought a new stake in shares of Magnolia Oil & Gas in the third quarter worth approximately $25,000. First Horizon Advisors Inc. boosted its holdings in Magnolia Oil & Gas by 64.7% in the third quarter. First Horizon Advisors Inc. now owns 1,008 shares of the company’s stock worth $25,000 after purchasing an additional 396 shares during the last quarter. Mather Group LLC. grew its position in Magnolia Oil & Gas by 100.0% in the 4th quarter. Mather Group LLC. now owns 1,090 shares of the company’s stock worth $25,000 after purchasing an additional 545 shares during the period. R Squared Ltd purchased a new stake in Magnolia Oil & Gas during the 4th quarter valued at $43,000. Finally, Avior Wealth Management LLC lifted its holdings in shares of Magnolia Oil & Gas by 30.0% during the 4th quarter. Avior Wealth Management LLC now owns 2,194 shares of the company’s stock valued at $51,000 after buying an additional 506 shares during the period. Institutional investors own 94.73% of the company’s stock.

Magnolia Oil & Gas Stock Up 0.3 %

MGY opened at $23.79 on Wednesday. The stock has a market cap of $4.68 billion, a price-to-earnings ratio of 11.78, a price-to-earnings-growth ratio of 2.85 and a beta of 1.98. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.47 and a current ratio of 1.47. The firm’s fifty day moving average is $24.64 and its 200 day moving average is $25.34. Magnolia Oil & Gas Co. has a fifty-two week low of $20.08 and a fifty-two week high of $29.02.

Magnolia Oil & Gas Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Friday, February 14th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 2.52%. This is an increase from Magnolia Oil & Gas’s previous quarterly dividend of $0.13. The ex-dividend date is Friday, February 14th. Magnolia Oil & Gas’s payout ratio is presently 25.74%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Benchmark reaffirmed a “hold” rating on shares of Magnolia Oil & Gas in a report on Tuesday, October 15th. Piper Sandler boosted their price target on Magnolia Oil & Gas from $24.00 to $26.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. Siebert Williams Shank lowered shares of Magnolia Oil & Gas from a “buy” rating to a “hold” rating and set a $30.00 price target for the company. in a research report on Tuesday, October 15th. Johnson Rice downgraded shares of Magnolia Oil & Gas from a “moderate buy” rating to a “hold” rating in a report on Tuesday, January 28th. Finally, Mizuho upped their target price on shares of Magnolia Oil & Gas from $27.00 to $28.00 and gave the company a “neutral” rating in a report on Monday, December 16th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat, Magnolia Oil & Gas currently has a consensus rating of “Hold” and a consensus target price of $27.58.

About Magnolia Oil & Gas

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.