A Linear Oscillating Actuator (LOA) generates bi-directional electromagnetic (EM) force between two extreme points. A new topology of moving magnet LOA with axial magnetised PMs and a C-shaped stator core is proposed. On each side of the mover, two chamfered tubular-shaped core material parts are attached. All the design parameters, such as mover mass and EM force of the LOA, are optimised using parametric analysis via parametric sweep, and the optimum values of the parameters are chosen based on design and performance parameters. The LOA's performance is examined for various input loading values and at different oscillation region positions. For various values of time-dependent supply, the EM force's oscillating nature is analysed. The effect of resonance analysis on input current, stroke to current ratio, and efficiency are discussed. The proposed LOA is compared to current LOA topologies in terms of design structure and performance parameters. The FEM results are validated using a special experimental setup. The proposed LOA produces feasible results for the compressor in a refrigeration system.