CoreCommodity Management LLC Acquires 27,943 Shares of Magnolia Oil & Gas Co. (NYSE:MGY)

CoreCommodity Management LLC lifted its holdings in shares of Magnolia Oil & Gas Co. (NYSE:MGY - Free Report) by 24.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 140,040 shares of the company's stock after purchasing an additional 27,943 shares during the period. Magnolia Oil & Gas comprises approximately 0.6% of CoreCommodity Management LLC's holdings, making the stock its 26th biggest holding. CoreCommodity Management LLC owned 0.07% of Magnolia Oil & Gas worth $3,274,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Larson Financial Group LLC boosted its holdings in shares of Magnolia Oil & Gas by 112.3% in the 4th quarter. Larson Financial Group LLC now owns 1,072 shares of the company's stock valued at $25,000 after purchasing an additional 567 shares during the last quarter. Mather Group LLC. boosted its holdings in shares of Magnolia Oil & Gas by 100.0% in the 4th quarter. Mather Group LLC. now owns 1,090 shares of the company's stock valued at $25,000 after purchasing an additional 545 shares during the last quarter. R Squared Ltd acquired a new position in shares of Magnolia Oil & Gas in the 4th quarter valued at $43,000. Quarry LP boosted its holdings in shares of Magnolia Oil & Gas by 1,047.8% in the 4th quarter. Quarry LP now owns 2,135 shares of the company's stock valued at $50,000 after purchasing an additional 1,949 shares during the last quarter. Finally, Avior Wealth Management LLC boosted its holdings in shares of Magnolia Oil & Gas by 30.0% in the 4th 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 during the last quarter. 94.73% of the stock is owned by hedge funds and other institutional investors.

Magnolia Oil & Gas Stock Performance

NYSE MGY traded up $1.07 on Monday, hitting $22.91. The stock had a trading volume of 725,223 shares, compared to its average volume of 2,303,782. Magnolia Oil & Gas Co. has a one year low of $19.09 and a one year 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. The stock has a market cap of $4.45 billion, a price-to-earnings ratio of 11.87, a P/E/G ratio of 3.01 and a beta of 1.25. The company's 50-day moving average is $22.38 and its two-hundred day moving average is $24.16.

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

Magnolia Oil & Gas Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Monday, May 12th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 2.62%. The ex-dividend date of this dividend is Monday, May 12th. Magnolia Oil & Gas's dividend payout ratio (DPR) is 29.85%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on MGY shares. Susquehanna reduced their target price on shares of Magnolia Oil & Gas from $31.00 to $30.00 and set a "positive" rating on the stock in a report on Tuesday, April 22nd. JPMorgan Chase & Co. reduced 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 report on Thursday, March 13th. Piper Sandler reduced their target price on shares of Magnolia Oil & Gas from $26.00 to $25.00 and set a "neutral" rating on the stock in a report on Tuesday, April 22nd. The Goldman Sachs Group lowered shares of Magnolia Oil & Gas from a "buy" rating to a "neutral" rating and reduced their target price for the company from $27.00 to $26.00 in a report on Friday, January 31st. Finally, Citigroup reduced their target price on shares of Magnolia Oil & Gas from $22.00 to $19.00 and set a "sell" rating on the stock in a report on Tuesday, April 8th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $27.21.

Insiders Place Their Bets

In other news, CEO Christopher G. Stavros purchased 2,500 shares of Magnolia Oil & Gas stock in a transaction that occurred on Monday, March 3rd. The stock was acquired at an average price 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 $19,676,802.60. The trade was a 0.28% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 1.20% of the stock is owned by insiders.

About Magnolia Oil & Gas

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.