ExodusPoint Capital Management LP Purchases 354,949 Shares of Magnolia Oil & Gas Co. (NYSE:MGY)

ExodusPoint Capital Management LP increased its position in shares of Magnolia Oil & Gas Co. (NYSE:MGY) by 683.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 406,853 shares of the company’s stock after buying an additional 354,949 shares during the period. ExodusPoint Capital Management LP owned 0.21% of Magnolia Oil & Gas worth $9,512,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of MGY. FMR LLC lifted its stake in shares of Magnolia Oil & Gas by 174.9% in the 3rd quarter. FMR LLC now owns 34,851 shares of the company’s stock valued at $851,000 after purchasing an additional 22,171 shares during the period. BNP Paribas Financial Markets lifted its stake in Magnolia Oil & Gas by 27.2% in the third quarter. BNP Paribas Financial Markets now owns 128,492 shares of the company’s stock valued at $3,138,000 after buying an additional 27,467 shares during the period. Townsquare Capital LLC bought a new position in shares of Magnolia Oil & Gas during the 3rd quarter worth approximately $237,000. Captrust Financial Advisors grew its position in shares of Magnolia Oil & Gas by 9.3% during the 3rd quarter. Captrust Financial Advisors now owns 48,731 shares of the company’s stock worth $1,190,000 after buying an additional 4,156 shares during the period. Finally, Verition Fund Management LLC increased its stake in shares of Magnolia Oil & Gas by 11.5% in the 3rd quarter. Verition Fund Management LLC now owns 84,864 shares of the company’s stock valued at $2,072,000 after acquiring an additional 8,724 shares in the last quarter. Institutional investors and hedge funds own 94.73% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Christopher G. Stavros acquired 2,500 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were bought at an average cost of $22.05 per share, for a total transaction of $55,125.00. Following the completion of the transaction, the chief executive officer now owns 892,372 shares in the company, valued at approximately $19,676,802.60. This trade represents a 0.28 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on MGY shares. Piper Sandler upped their price target on Magnolia Oil & Gas from $24.00 to $26.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. 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. JPMorgan Chase & Co. reduced their price target on shares of Magnolia Oil & Gas from $28.00 to $24.00 and set a “neutral” rating for the company in a research report on Thursday, March 13th. Mizuho upped their price objective on shares of Magnolia Oil & Gas from $27.00 to $28.00 and gave the stock a “neutral” rating in a report on Monday, December 16th. Finally, Williams Trading set a $29.00 price objective on shares of Magnolia Oil & Gas in a report on Wednesday, March 5th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $27.77.

Magnolia Oil & Gas Stock Performance

Shares of MGY stock opened at $21.05 on Friday. The firm’s 50-day simple moving average is $23.90 and its two-hundred day simple moving average is $25.09. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.47 and a current ratio of 1.42. Magnolia Oil & Gas Co. has a 52 week low of $20.76 and a 52 week high of $29.02. The firm has a market cap of $4.09 billion, a price-to-earnings ratio of 10.90, a P/E/G ratio of 3.01 and a beta of 1.57.

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

Magnolia Oil & Gas Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, February 14th. This is a boost from Magnolia Oil & Gas’s previous quarterly dividend of $0.13. This represents a $0.60 annualized dividend and a dividend yield of 2.85%. Magnolia Oil & Gas’s dividend payout ratio is currently 31.09%.

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.