Bayesian Capital Management LP Purchases 24,900 Shares of Magnolia Oil & Gas Co. (NYSE:MGY)

Bayesian Capital Management LP grew its position in Magnolia Oil & Gas Co. (NYSE:MGY - Free Report) by 98.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 50,200 shares of the company's stock after acquiring an additional 24,900 shares during the quarter. Bayesian Capital Management LP's holdings in Magnolia Oil & Gas were worth $1,174,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of MGY. Larson Financial Group LLC boosted its stake in Magnolia Oil & Gas by 112.3% during the fourth quarter. Larson Financial Group LLC now owns 1,072 shares of the company's stock worth $25,000 after buying an additional 567 shares in the last quarter. Mather Group LLC. increased its stake in Magnolia Oil & Gas by 100.0% in the fourth quarter. Mather Group LLC. now owns 1,090 shares of the company's stock valued at $25,000 after acquiring an additional 545 shares during the period. R Squared Ltd acquired a new position in Magnolia Oil & Gas in the fourth quarter worth about $43,000. Quarry LP lifted its stake in Magnolia Oil & Gas by 1,047.8% during the fourth quarter. Quarry LP now owns 2,135 shares of the company's stock worth $50,000 after purchasing an additional 1,949 shares during the period. Finally, Avior Wealth Management LLC boosted its holdings in Magnolia Oil & Gas by 30.0% during the fourth quarter. Avior Wealth Management LLC now owns 2,194 shares of the company's stock valued at $51,000 after purchasing an additional 506 shares in the last quarter. Institutional investors and hedge funds own 94.73% of the company's stock.

Magnolia Oil & Gas Trading Down 3.6 %

Shares of NYSE MGY opened at $20.52 on Tuesday. Magnolia Oil & Gas Co. has a fifty-two week low of $19.09 and a fifty-two week high of $29.02. The firm has a market capitalization of $3.98 billion, a P/E ratio of 10.63, a P/E/G ratio of 3.01 and a beta of 1.25. 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 simple moving average is $22.51 and its 200 day simple moving average is $24.29.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.55 EPS for the quarter, beating analysts' consensus estimates of $0.53 by $0.02. The company had revenue of $350.30 million during the quarter, compared to analysts' expectations of $337.83 million. Magnolia Oil & Gas had a return on equity of 20.74% and a net margin of 27.82%. Magnolia Oil & Gas's revenue was up 9.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.46 EPS. On average, analysts predict that Magnolia Oil & Gas Co. will post 2.1 EPS for the current year.

Magnolia Oil & Gas Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Monday, May 12th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 2.92%. The ex-dividend date is Monday, May 12th. Magnolia Oil & Gas's dividend payout ratio (DPR) is 29.85%.

Insider Activity at Magnolia Oil & Gas

In other Magnolia Oil & Gas news, CEO Christopher G. Stavros bought 2,500 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was acquired at an average cost of $22.05 per share, with a total value of $55,125.00. Following the purchase, the chief executive officer now owns 892,372 shares in the company, 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have recently issued reports on MGY. Bank of America reissued a "neutral" rating and issued a $28.00 target price (down from $29.00) on shares of Magnolia Oil & Gas in a report on Monday, January 13th. Williams Trading set a $29.00 target price on shares of Magnolia Oil & Gas in a research note on Wednesday, March 5th. UBS Group initiated coverage on shares of Magnolia Oil & Gas in a research report on Tuesday, April 22nd. They set a "buy" rating and a $26.00 target price for the company. The Goldman Sachs Group lowered shares of Magnolia Oil & Gas from a "buy" rating to a "neutral" rating and reduced their price target for the company from $27.00 to $26.00 in a research report on Friday, January 31st. Finally, Piper Sandler cut their target price on shares of Magnolia Oil & Gas from $26.00 to $25.00 and set a "neutral" rating for the company in a research note on Tuesday, April 22nd. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $27.21.

Magnolia Oil & Gas 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.

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