Campbell Newman Asset Management Inc. Sells 516 Shares of Magnolia Oil & Gas Co. (NYSE:MGY)

Campbell Newman Asset Management Inc. lessened its stake in Magnolia Oil & Gas Co. (NYSE:MGY) by 0.6% during the 4th quarter, Holdings Channel.com reports. The firm owned 92,166 shares of the company’s stock after selling 516 shares during the quarter. Campbell Newman Asset Management Inc.’s holdings in Magnolia Oil & Gas were worth $2,155,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in MGY. Harbor Capital Advisors Inc. bought a new stake in shares of Magnolia Oil & Gas in the 3rd quarter valued at about $25,000. First Horizon Advisors Inc. lifted its position in 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 purchasing an additional 396 shares during the period. GAMMA Investing LLC boosted its holdings in Magnolia Oil & Gas by 62.4% in the third quarter. GAMMA Investing LLC now owns 2,609 shares of the company’s stock valued at $64,000 after purchasing an additional 1,002 shares during the last quarter. Covestor Ltd grew its position in Magnolia Oil & Gas by 36.8% during the 3rd quarter. Covestor Ltd now owns 2,986 shares of the company’s stock worth $73,000 after purchasing an additional 804 shares during the period. Finally, Truvestments Capital LLC purchased a new position in shares of Magnolia Oil & Gas during the 3rd quarter valued at about $90,000. 94.73% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently commented 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 on the stock. in a report on Tuesday, October 15th. Benchmark restated a “hold” rating on shares of Magnolia Oil & Gas in a research report on Tuesday, October 15th. Wells Fargo & Company lowered shares of Magnolia Oil & Gas from an “equal weight” rating to an “underweight” rating and lowered their target price for the stock from $26.00 to $22.00 in a research note on Tuesday, October 1st. Bank of America restated a “neutral” rating and issued a $28.00 price target (down previously from $29.00) on shares of Magnolia Oil & Gas in a research note on Monday. Finally, Truist Financial increased their price target on Magnolia Oil & Gas from $33.00 to $34.00 and gave the stock a “buy” rating in a research report on Monday. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $27.58.

Magnolia Oil & Gas Trading Up 0.9 %

Shares of MGY traded up $0.22 during midday trading on Wednesday, reaching $26.02. The company had a trading volume of 54,010 shares, compared to its average volume of 1,734,017. The firm has a 50 day simple moving average of $25.64 and a 200-day simple moving average of $25.50. 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 stock has a market cap of $5.11 billion, a PE ratio of 12.88, a price-to-earnings-growth ratio of 1.29 and a beta of 2.00. Magnolia Oil & Gas Co. has a 1-year low of $19.16 and a 1-year high of $29.02.

Magnolia Oil & Gas (NYSE:MGY) last posted its earnings results on Wednesday, October 30th. The company reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.04. The company had revenue of $333.14 million for the quarter, compared to analyst estimates of $331.45 million. Magnolia Oil & Gas had a net margin of 28.88% and a return on equity of 20.78%. Research analysts forecast that Magnolia Oil & Gas Co. will post 2 EPS for the current fiscal year.

Magnolia Oil & Gas Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Friday, November 8th were paid a dividend of $0.13 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $0.52 annualized dividend and a yield of 2.00%. Magnolia Oil & Gas’s dividend payout ratio (DPR) is 25.74%.

Magnolia Oil & Gas Company Profile

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.