Entropy Technologies LP Increases Holdings in Magnolia Oil & Gas Co. (NYSE:MGY)

Entropy Technologies LP grew its holdings in Magnolia Oil & Gas Co. (NYSE:MGY) by 118.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm 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 institutional investors and hedge funds have also bought and sold shares of the business. First Horizon Advisors Inc. raised its holdings in shares of Magnolia Oil & Gas by 64.7% during the third quarter. First Horizon Advisors Inc. now owns 1,008 shares of the company’s stock valued at $25,000 after acquiring an additional 396 shares in the last quarter. Albert D Mason Inc. increased its position in Magnolia Oil & Gas by 0.7% during the 4th quarter. Albert D Mason Inc. now owns 61,497 shares of the company’s stock valued at $1,438,000 after purchasing an additional 411 shares during the period. Jennison Associates LLC raised its holdings in Magnolia Oil & Gas by 2.2% in the 3rd quarter. Jennison Associates LLC now owns 23,836 shares of the company’s stock worth $582,000 after purchasing an additional 506 shares in the last quarter. Avior Wealth Management LLC lifted its position in shares of Magnolia Oil & Gas by 30.0% in the 4th quarter. Avior Wealth Management LLC now owns 2,194 shares of the company’s stock worth $51,000 after purchasing an additional 506 shares during the period. Finally, Atria Investments Inc boosted its stake in shares of Magnolia Oil & Gas by 2.3% during the 3rd quarter. Atria Investments Inc now owns 23,576 shares of the company’s stock valued at $576,000 after purchasing an additional 523 shares in the last quarter. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on MGY shares. 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 stock from $27.00 to $26.00 in a research note on Friday, January 31st. Bank of America reissued a “neutral” rating and issued a $28.00 target price (down previously from $29.00) on shares of Magnolia Oil & Gas in a research report on Monday, January 13th. Siebert Williams Shank lowered Magnolia Oil & Gas from a “buy” rating to a “hold” rating and set a $30.00 price target on the stock. in a research report on Tuesday, October 15th. Benchmark reiterated a “hold” rating on shares of Magnolia Oil & Gas in a report on Tuesday, October 15th. Finally, Johnson Rice cut shares of Magnolia Oil & Gas from a “moderate buy” rating to a “hold” rating in a report on Tuesday, January 28th. 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $27.58.

Magnolia Oil & Gas Stock Performance

Shares of MGY stock opened at $23.79 on Wednesday. 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 company has a market capitalization 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. Magnolia Oil & Gas Co. has a one year low of $20.08 and a one year high of $29.02. The company’s 50-day moving average is $24.64 and its 200 day moving average is $25.34.

Magnolia Oil & Gas Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Friday, February 14th will be given a dividend of $0.15 per share. The ex-dividend date is Friday, February 14th. 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. Magnolia Oil & Gas’s dividend payout ratio (DPR) is 25.74%.

Magnolia Oil & Gas 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.