abrdn plc Sells 113,684 Shares of Magnolia Oil & Gas Co. (NYSE:MGY)

abrdn plc lessened its stake in Magnolia Oil & Gas Co. (NYSE:MGY) by 9.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,119,345 shares of the company’s stock after selling 113,684 shares during the period. abrdn plc owned about 0.54% of Magnolia Oil & Gas worth $23,831,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in MGY. VisionPoint Advisory Group LLC boosted its position in shares of Magnolia Oil & Gas by 112.3% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 1,537 shares of the company’s stock valued at $35,000 after purchasing an additional 813 shares in the last quarter. Arlington Trust Co LLC bought a new stake in shares of Magnolia Oil & Gas during the 4th quarter valued at about $113,000. Signaturefd LLC boosted its position in shares of Magnolia Oil & Gas by 6.7% during the 3rd quarter. Signaturefd LLC now owns 8,325 shares of the company’s stock valued at $191,000 after purchasing an additional 523 shares in the last quarter. Fulton Bank N.A. bought a new stake in shares of Magnolia Oil & Gas during the 4th quarter valued at about $213,000. Finally, Truvestments Capital LLC boosted its position in shares of Magnolia Oil & Gas by 21.2% during the 3rd quarter. Truvestments Capital LLC now owns 10,992 shares of the company’s stock valued at $252,000 after purchasing an additional 1,920 shares in the last quarter. Institutional investors own 94.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on MGY shares. Mizuho upped their target price on Magnolia Oil & Gas from $24.00 to $26.00 and gave the company a “neutral” rating in a research report on Thursday, March 14th. The Goldman Sachs Group upped their price target on Magnolia Oil & Gas from $24.50 to $28.00 and gave the stock a “buy” rating in a research note on Tuesday, March 26th. Citigroup upped their price target on Magnolia Oil & Gas from $18.00 to $22.00 and gave the stock a “sell” rating in a research note on Monday, April 15th. Truist Financial upped their price target on Magnolia Oil & Gas from $32.00 to $33.00 and gave the stock a “buy” rating in a research note on Friday, February 16th. Finally, Wells Fargo & Company upped their price target on Magnolia Oil & Gas from $23.00 to $27.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 18th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $27.63.

Magnolia Oil & Gas Stock Performance

Shares of Magnolia Oil & Gas stock opened at $25.99 on Wednesday. The company has a market cap of $5.31 billion, a PE ratio of 12.68, a price-to-earnings-growth ratio of 1.57 and a beta of 2.05. Magnolia Oil & Gas Co. has a 52 week low of $18.72 and a 52 week high of $27.33. The business has a 50 day moving average price of $24.38 and a 200-day moving average price of $22.45. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.21.

Magnolia Oil & Gas (NYSE:MGY) last issued its quarterly earnings data on Wednesday, February 14th. The company reported $0.50 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.04). The company had revenue of $322.63 million during the quarter, compared to analysts’ expectations of $324.95 million. Magnolia Oil & Gas had a return on equity of 21.21% and a net margin of 31.65%. Equities analysts anticipate that Magnolia Oil & Gas Co. will post 2.09 earnings per share for the current fiscal year.

Magnolia Oil & Gas Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 16th were paid a $0.13 dividend. The ex-dividend date of this dividend was Thursday, February 15th. This is an increase from Magnolia Oil & Gas’s previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a dividend yield of 2.00%. Magnolia Oil & Gas’s dividend payout ratio is 25.37%.

About Magnolia Oil & Gas

Magnolia Oil & Gas Corporation, an independent oil and natural gas company, engages in the acquisition, development, exploration, and production of oil, natural gas, and natural gas liquids reserves in the United States. Its properties are located primarily in Karnes County and the Giddings area in South Texas principally comprising the Eagle Ford Shale and the Austin Chalk formation.