Magnolia Oil & Gas Co. (NYSE:MGY) Shares Bought by AlphaQuest LLC

AlphaQuest LLC increased its position in Magnolia Oil & Gas Co. (NYSE:MGY) by 350,304.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 87,601 shares of the company’s stock after buying an additional 87,576 shares during the quarter. AlphaQuest LLC’s holdings in Magnolia Oil & Gas were worth $2,048,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of MGY. FMR LLC raised its position in Magnolia Oil & Gas by 174.9% in the third quarter. FMR LLC now owns 34,851 shares of the company’s stock worth $851,000 after acquiring an additional 22,171 shares in the last quarter. HighTower Advisors LLC bought a new stake in shares of Magnolia Oil & Gas in the 3rd quarter worth approximately $353,000. Intech Investment Management LLC bought a new stake in shares of Magnolia Oil & Gas in the 3rd quarter worth approximately $1,252,000. Citigroup Inc. lifted its stake in Magnolia Oil & Gas by 30.6% during the third quarter. Citigroup Inc. now owns 313,778 shares of the company’s stock valued at $7,662,000 after purchasing an additional 73,431 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Magnolia Oil & Gas by 3.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,991,017 shares of the company’s stock worth $48,621,000 after buying an additional 75,305 shares in the last quarter. Institutional investors own 94.73% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on MGY. Piper Sandler increased their price objective on Magnolia Oil & Gas from $24.00 to $26.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Johnson Rice lowered Magnolia Oil & Gas from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, January 28th. Truist Financial increased their price target on Magnolia Oil & Gas from $33.00 to $34.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Mizuho lifted their price target on Magnolia Oil & Gas from $27.00 to $28.00 and gave the stock a “neutral” rating in a research note on Monday, December 16th. Finally, Bank of America reaffirmed a “neutral” rating and set a $28.00 price objective (down from $29.00) on shares of Magnolia Oil & Gas in a research note on Monday, January 13th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Magnolia Oil & Gas has an average rating of “Hold” and an average price target of $27.58.

Magnolia Oil & Gas Stock Up 3.0 %

MGY stock opened at $23.28 on Friday. The company has a 50 day moving average of $24.16 and a two-hundred day moving average of $25.12. The company has a market cap of $4.52 billion, a price-to-earnings ratio of 12.06, a PEG ratio of 3.01 and a beta of 1.90. Magnolia Oil & Gas Co. has a 12-month low of $21.63 and a 12-month high of $29.02. The company has a quick ratio of 1.47, a current ratio of 1.42 and a debt-to-equity ratio of 0.20.

Magnolia Oil & Gas (NYSE:MGY) last announced its quarterly earnings data on Tuesday, February 18th. The company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.03. The company had revenue of $326.61 million during the quarter, compared to the consensus estimate of $327.40 million. Magnolia Oil & Gas had a return on equity of 20.74% and a net margin of 27.82%. On average, equities analysts anticipate that Magnolia Oil & Gas Co. will post 2.1 earnings per share for the current fiscal year.

Magnolia Oil & Gas Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were paid a dividend of $0.15 per share. The ex-dividend date was Friday, February 14th. This represents a $0.60 dividend on an annualized basis and a yield of 2.58%. This is an increase from Magnolia Oil & Gas’s previous quarterly dividend of $0.13. Magnolia Oil & Gas’s payout ratio is currently 31.09%.

Insider Buying and Selling at Magnolia Oil & Gas

In other Magnolia Oil & Gas news, CEO Christopher G. Stavros bought 2,500 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were acquired at an average cost of $22.05 per share, for a total transaction of $55,125.00. Following the transaction, the chief executive officer now owns 892,372 shares in the company, valued at approximately $19,676,802.60. The trade was a 0.28 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 1.20% of the company’s stock.

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.