Magnolia Oil & Gas Co. (NYSE:MGY) Shares Acquired by Bayesian Capital Management LP

Bayesian Capital Management LP increased 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 (SEC). The fund owned 50,200 shares of the company's stock after buying 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 filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the business. BNP Paribas Financial Markets lifted its position in shares of Magnolia Oil & Gas by 2.2% in the fourth quarter. BNP Paribas Financial Markets now owns 131,291 shares of the company's stock valued at $3,070,000 after acquiring an additional 2,799 shares in the last quarter. Gallo Partners LP bought a new position in shares of Magnolia Oil & Gas during the 4th quarter worth $975,000. Schonfeld Strategic Advisors LLC bought a new stake in Magnolia Oil & Gas during the fourth quarter valued at about $4,561,000. Lido Advisors LLC purchased a new stake in shares of Magnolia Oil & Gas in the fourth quarter worth about $227,000. Finally, Northern Trust Corp increased its holdings in Magnolia Oil & Gas by 7.3% in the fourth quarter. Northern Trust Corp now owns 1,936,398 shares of the company's stock valued at $45,273,000 after buying an additional 131,941 shares in the last quarter. 94.73% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Christopher G. Stavros purchased 2,500 shares of the business's stock in a transaction on Monday, March 3rd. The shares were acquired at an average price of $22.05 per share, for a total transaction of $55,125.00. Following the purchase, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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. Susquehanna decreased their price target on shares of Magnolia Oil & Gas from $31.00 to $30.00 and set a "positive" rating on the stock in a research note on Tuesday, April 22nd. Bank of America reissued a "neutral" rating and set a $28.00 price target (down previously from $29.00) on shares of Magnolia Oil & Gas in a report on Monday, January 13th. JPMorgan Chase & Co. lowered their target price on shares of Magnolia Oil & Gas from $28.00 to $24.00 and set a "neutral" rating on the stock in a research report on Thursday, March 13th. UBS Group assumed coverage on Magnolia Oil & Gas in a report on Tuesday, April 22nd. They issued a "buy" rating and a $26.00 price target for the company. Finally, Johnson Rice downgraded shares of Magnolia Oil & Gas from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, January 28th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Magnolia Oil & Gas presently has a consensus rating of "Hold" and an average target price of $27.21.

Magnolia Oil & Gas Trading Up 1.3 %

NYSE:MGY traded up $0.29 during midday trading on Friday, reaching $21.97. 1,927,845 shares of the stock traded hands, compared to its average volume of 2,310,019. The company has a fifty day moving average of $22.38 and a 200 day moving average of $24.17. Magnolia Oil & Gas Co. has a 12 month low of $19.09 and a 12 month high of $29.02. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.47 and a current ratio of 1.42. The stock has a market capitalization of $4.27 billion, a P/E ratio of 11.38, a PEG ratio of 3.01 and a beta of 1.25.

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

Magnolia Oil & Gas Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Monday, May 12th will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date is Monday, May 12th. Magnolia Oil & Gas's dividend payout ratio is currently 29.85%.

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.