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

Hilton Capital Management LLC boosted its position in Magnolia Oil & Gas Co. (NYSE:MGY) by 4.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 42,263 shares of the company’s stock after purchasing an additional 1,822 shares during the period. Hilton Capital Management LLC’s holdings in Magnolia Oil & Gas were worth $988,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of MGY. Soros Fund Management LLC bought a new stake in shares of Magnolia Oil & Gas in the third quarter valued at approximately $18,120,000. Barclays PLC grew its stake in Magnolia Oil & Gas by 62.5% in the 3rd quarter. Barclays PLC now owns 1,653,736 shares of the company’s stock valued at $40,383,000 after buying an additional 636,049 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Magnolia Oil & Gas during the 4th quarter valued at $13,634,000. State Street Corp lifted its position in shares of Magnolia Oil & Gas by 4.2% during the third quarter. State Street Corp now owns 10,700,257 shares of the company’s stock worth $261,300,000 after acquiring an additional 435,326 shares in the last quarter. Finally, Centiva Capital LP boosted its holdings in shares of Magnolia Oil & Gas by 767.6% in the third quarter. Centiva Capital LP now owns 487,148 shares of the company’s stock worth $11,896,000 after acquiring an additional 430,996 shares during the period. 94.73% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on MGY. Williams Trading set a $29.00 price objective on Magnolia Oil & Gas in a report on Wednesday, March 5th. Johnson Rice downgraded shares of Magnolia Oil & Gas from a “moderate buy” rating to a “hold” rating in a report on Tuesday, January 28th. JPMorgan Chase & Co. dropped their price target on Magnolia Oil & Gas from $28.00 to $24.00 and set a “neutral” rating for the company in a research report on Thursday. The Goldman Sachs Group lowered shares of Magnolia Oil & Gas from a “buy” rating to a “neutral” rating and dropped their target price for the company from $27.00 to $26.00 in a research report on Friday, January 31st. Finally, Mizuho raised their price objective on shares of Magnolia Oil & Gas from $27.00 to $28.00 and gave the company a “neutral” rating in a research report on Monday, December 16th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $27.77.

Insider Buying and Selling

In related news, CEO Christopher G. Stavros purchased 2,500 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were purchased at an average cost of $22.05 per share, with a total value of $55,125.00. Following the transaction, 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 position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.20% of the stock is currently owned by insiders.

Magnolia Oil & Gas Stock Up 3.2 %

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 price-to-earnings-growth ratio of 3.01 and a beta of 1.90. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.47 and a current ratio of 1.42. The business’s 50 day moving average price is $24.12 and its two-hundred day moving average price is $25.05. Magnolia Oil & Gas Co. has a fifty-two week low of $21.63 and a fifty-two week high of $29.02.

Magnolia Oil & Gas (NYSE:MGY) last posted its quarterly earnings data on Tuesday, February 18th. The company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.03. Magnolia Oil & Gas had a return on equity of 20.74% and a net margin of 27.82%. The business had revenue of $326.61 million during the quarter, compared to the consensus estimate of $327.40 million. As a group, analysts forecast that Magnolia Oil & Gas Co. will post 2.1 earnings per share 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. Investors of record on Friday, February 14th were given a dividend of $0.15 per share. This is a boost from Magnolia Oil & Gas’s previous quarterly dividend of $0.13. This represents a $0.60 dividend on an annualized basis and a yield of 2.58%. The ex-dividend date of this dividend was Friday, February 14th. Magnolia Oil & Gas’s dividend payout ratio (DPR) is 31.09%.

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.