Legato Capital Management LLC Takes $276,000 Position in Magnolia Oil & Gas Co. (NYSE:MGY)

Legato Capital Management LLC acquired a new stake in Magnolia Oil & Gas Co. (NYSE:MGY) in the 4th quarter, HoldingsChannel.com reports. The fund acquired 11,817 shares of the company’s stock, valued at approximately $276,000.

Other institutional investors have also modified their holdings of the company. Harbor Capital Advisors Inc. acquired a new stake in shares of Magnolia Oil & Gas in the third quarter valued at $25,000. First Horizon Advisors Inc. lifted its holdings in shares of Magnolia Oil & Gas by 64.7% in the third quarter. First Horizon Advisors Inc. now owns 1,008 shares of the company’s stock valued at $25,000 after buying an additional 396 shares during the period. Mather Group LLC. lifted its holdings in shares of Magnolia Oil & Gas by 100.0% in the fourth quarter. Mather Group LLC. now owns 1,090 shares of the company’s stock valued at $25,000 after buying an additional 545 shares during the period. R Squared Ltd acquired a new stake in shares of Magnolia Oil & Gas in the fourth quarter valued at $43,000. Finally, Avior Wealth Management LLC lifted its holdings in shares of Magnolia Oil & Gas by 30.0% in the fourth 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 and hedge funds own 94.73% of the company’s stock.

Magnolia Oil & Gas Stock Performance

MGY stock opened at $23.45 on Friday. 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 stock has a market cap of $4.61 billion, a P/E ratio of 11.61, a P/E/G ratio of 2.85 and a beta of 1.98. The firm has a 50 day simple moving average of $24.38 and a 200 day simple moving average of $25.27. Magnolia Oil & Gas Co. has a 52 week low of $20.66 and a 52 week high of $29.02.

Magnolia Oil & Gas Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Friday, February 14th will be issued 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 annualized dividend and a dividend yield of 2.56%. The ex-dividend date of this dividend is Friday, February 14th. Magnolia Oil & Gas’s dividend payout ratio (DPR) is currently 29.70%.

Wall Street Analyst Weigh In

MGY has been the subject of several research analyst reports. Bank of America restated a “neutral” rating and issued a $28.00 price objective (down previously from $29.00) on shares of Magnolia Oil & Gas in a report on Monday, January 13th. Piper Sandler lifted their price target on Magnolia Oil & Gas from $24.00 to $26.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. The Goldman Sachs Group lowered shares of Magnolia Oil & Gas from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $27.00 to $26.00 in a research note on Friday, January 31st. Mizuho raised their target price on shares of Magnolia Oil & Gas from $27.00 to $28.00 and gave the stock a “neutral” rating in a report on Monday, December 16th. 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 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 MarketBeat, the company currently has a consensus rating of “Hold” and an average 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.