Farringdon Capital Ltd. Invests $528,000 in Magnolia Oil & Gas Co. (NYSE:MGY)

Farringdon Capital Ltd. bought a new position in shares of Magnolia Oil & Gas Co. (NYSE:MGY - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 22,572 shares of the company's stock, valued at approximately $528,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Barclays PLC raised its holdings in shares of Magnolia Oil & Gas by 62.5% during the third quarter. Barclays PLC now owns 1,653,736 shares of the company's stock valued at $40,383,000 after purchasing an additional 636,049 shares during the period. Raymond James Financial Inc. bought a new stake in Magnolia Oil & Gas in the 4th quarter valued at about $13,634,000. Renaissance Technologies LLC grew its position in shares of Magnolia Oil & Gas by 910.5% in the fourth quarter. Renaissance Technologies LLC now owns 541,400 shares of the company's stock valued at $12,658,000 after purchasing an additional 487,820 shares in the last quarter. Wasatch Advisors LP grew its holdings in shares of Magnolia Oil & Gas by 21.2% during the fourth quarter. Wasatch Advisors LP now owns 2,773,828 shares of the company's stock worth $64,852,000 after purchasing an additional 484,683 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in Magnolia Oil & Gas by 2.2% during the fourth quarter. Vanguard Group Inc. now owns 20,938,200 shares of the company's stock valued at $489,535,000 after purchasing an additional 452,836 shares in the last quarter. 94.73% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Bank of America reiterated a "neutral" rating and issued a $28.00 target price (down previously from $29.00) on shares of Magnolia Oil & Gas in a research report on Monday, January 13th. Truist Financial raised their price target on shares of Magnolia Oil & Gas from $33.00 to $34.00 and gave the stock a "buy" rating in a report on Monday, January 13th. Piper Sandler reduced their price target on shares of Magnolia Oil & Gas from $26.00 to $25.00 and set a "neutral" rating on the stock in a research report on Tuesday. Citigroup lowered their target price on shares of Magnolia Oil & Gas from $22.00 to $19.00 and set a "sell" rating for the company in a report on Tuesday, April 8th. Finally, Johnson Rice downgraded shares of Magnolia Oil & Gas from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, January 28th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Magnolia Oil & Gas presently has an average rating of "Hold" and an average price target of $27.21.

Insider Buying and Selling

In other Magnolia Oil & Gas news, CEO Christopher G. Stavros acquired 2,500 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The stock was purchased at an average cost of $22.05 per share, with a total value of $55,125.00. Following the transaction, the chief executive officer now owns 892,372 shares of the company's stock, valued at $19,676,802.60. This trade represents a 0.28 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 1.20% of the stock is currently owned by company insiders.

Magnolia Oil & Gas Price Performance

NYSE MGY traded down $0.13 during trading hours on Wednesday, reaching $20.70. The company's stock had a trading volume of 563,148 shares, compared to its average volume of 2,281,701. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.42 and a quick ratio of 1.47. The company's 50-day moving average is $23.01 and its two-hundred day moving average is $24.64. The firm has a market capitalization of $4.02 billion, a price-to-earnings ratio of 10.73, a P/E/G ratio of 3.01 and a beta of 1.57. Magnolia Oil & Gas Co. has a 1-year low of $19.09 and a 1-year high of $29.02.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last announced its earnings results on Tuesday, February 18th. The company reported $0.49 EPS for the quarter, beating analysts' consensus estimates of $0.46 by $0.03. The business had revenue of $326.61 million during 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%. On average, equities analysts predict that Magnolia Oil & Gas Co. will post 2.1 EPS for the current year.

Magnolia Oil & Gas Increases Dividend

The company 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. This represents a $0.60 annualized dividend and a dividend yield of 2.90%. The ex-dividend date was Friday, February 14th. This is a positive change from Magnolia Oil & Gas's previous quarterly dividend of $0.13. Magnolia Oil & Gas's payout ratio is presently 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.