Moody Aldrich Partners LLC Lowers Position in Magnolia Oil & Gas Co. (NYSE:MGY)

Moody Aldrich Partners LLC reduced its stake in Magnolia Oil & Gas Co. (NYSE:MGY) by 2.8% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 300,713 shares of the company’s stock after selling 8,720 shares during the quarter. Magnolia Oil & Gas accounts for approximately 1.3% of Moody Aldrich Partners LLC’s portfolio, making the stock its 20th biggest position. Moody Aldrich Partners LLC’s holdings in Magnolia Oil & Gas were worth $7,031,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. KBC Group NV raised its position in Magnolia Oil & Gas by 52.2% in the 4th quarter. KBC Group NV now owns 7,757 shares of the company’s stock valued at $181,000 after buying an additional 2,662 shares during the last quarter. Exchange Traded Concepts LLC increased its position in shares of Magnolia Oil & Gas by 3.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 35,694 shares of the company’s stock valued at $835,000 after purchasing an additional 1,049 shares during the last quarter. Avior Wealth Management LLC increased its position in shares of Magnolia Oil & Gas by 30.0% during the 4th quarter. Avior Wealth Management LLC now owns 2,194 shares of the company’s stock valued at $51,000 after purchasing an additional 506 shares during the last quarter. Mitsubishi UFJ Asset Management UK Ltd. purchased a new stake in shares of Magnolia Oil & Gas during the 4th quarter valued at $912,000. Finally, Albert D Mason Inc. increased its position in shares of 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 last quarter. 94.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Siebert Williams Shank lowered Magnolia Oil & Gas from a “buy” rating to a “hold” rating and set a $30.00 target price for the company. in a research report on Tuesday, October 15th. Bank of America reaffirmed a “neutral” rating and set a $28.00 target price (down from $29.00) on shares of Magnolia Oil & Gas in a research report on Monday, January 13th. Wells Fargo & Company downgraded Magnolia Oil & Gas from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $26.00 to $22.00 in a research note on Tuesday, October 1st. Benchmark reiterated a “hold” rating on shares of Magnolia Oil & Gas in a research note on Tuesday, October 15th. Finally, Piper Sandler cut their price target on Magnolia Oil & Gas from $26.00 to $24.00 and set a “neutral” rating for the company in a research note on Tuesday, December 17th. Two analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Magnolia Oil & Gas has a consensus rating of “Hold” and an average target price of $27.58.

Magnolia Oil & Gas Stock Down 0.3 %

Shares of NYSE MGY opened at $24.90 on Wednesday. Magnolia Oil & Gas Co. has a 52 week low of $19.53 and a 52 week high of $29.02. The business has a 50-day simple moving average of $25.39 and a two-hundred day simple moving average of $25.52. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.20. The company has a market cap of $4.89 billion, a P/E ratio of 12.32, a P/E/G ratio of 3.26 and a beta of 2.00.

Magnolia Oil & Gas (NYSE:MGY) last issued its earnings results on Wednesday, October 30th. The company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.48 by $0.04. Magnolia Oil & Gas had a return on equity of 20.78% and a net margin of 28.88%. The business had revenue of $333.14 million during the quarter, compared to the consensus estimate of $331.45 million. Research analysts anticipate that Magnolia Oil & Gas Co. will post 1.98 earnings per share for the current fiscal year.

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.