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

Boston Trust Walden Corp grew its position in shares of Magnolia Oil & Gas Co. (NYSE:MGY) by 9.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,090,587 shares of the company’s stock after purchasing an additional 267,461 shares during the quarter. Boston Trust Walden Corp owned about 1.57% of Magnolia Oil & Gas worth $72,258,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Oak Family Advisors LLC lifted its holdings in Magnolia Oil & Gas by 3.0% in the fourth quarter. Oak Family Advisors LLC now owns 80,984 shares of the company’s stock valued at $1,893,000 after buying an additional 2,365 shares during the period. Foster Victor Wealth Advisors LLC lifted its stake in shares of Magnolia Oil & Gas by 6.7% in the 4th quarter. Foster Victor Wealth Advisors LLC now owns 314,515 shares of the company’s stock valued at $7,353,000 after purchasing an additional 19,777 shares during the period. R Squared Ltd bought a new stake in shares of Magnolia Oil & Gas during the 4th quarter valued at about $43,000. KBC Group NV boosted its position in shares of Magnolia Oil & Gas by 52.2% during the 4th quarter. KBC Group NV now owns 7,757 shares of the company’s stock valued at $181,000 after purchasing an additional 2,662 shares in the last quarter. Finally, Exchange Traded Concepts LLC grew its stake in Magnolia Oil & Gas by 3.0% during the fourth quarter. Exchange Traded Concepts LLC now owns 35,694 shares of the company’s stock worth $835,000 after purchasing an additional 1,049 shares during the period. Institutional investors and hedge funds own 94.73% of the company’s stock.

Wall Street Analyst Weigh In

MGY has been the topic of a number of research analyst reports. Piper Sandler raised their price objective on shares of Magnolia Oil & Gas from $24.00 to $26.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. The Goldman Sachs Group downgraded shares of Magnolia Oil & Gas from a “buy” rating to a “neutral” rating and decreased their price target for the company from $27.00 to $26.00 in a research note on Friday. Benchmark reissued a “hold” rating on shares of Magnolia Oil & Gas in a research report on Tuesday, October 15th. Mizuho boosted their target price on Magnolia Oil & Gas from $27.00 to $28.00 and gave the company a “neutral” rating in a research report on Monday, December 16th. Finally, Bank of America reiterated 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. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Magnolia Oil & Gas presently has an average rating of “Hold” and a consensus price target of $27.58.

Magnolia Oil & Gas Stock Down 3.2 %

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

Magnolia Oil & Gas Increases Dividend

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

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.