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

CoreCommodity Management LLC raised its holdings in Magnolia Oil & Gas Co. (NYSE:MGY - Free Report) by 24.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 140,040 shares of the company's stock after acquiring an additional 27,943 shares during the quarter. Magnolia Oil & Gas comprises approximately 0.6% of CoreCommodity Management LLC's holdings, making the stock its 26th largest position. CoreCommodity Management LLC owned about 0.07% of Magnolia Oil & Gas worth $3,274,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Mariner LLC lifted its stake in shares of Magnolia Oil & Gas by 1.8% in the 4th quarter. Mariner LLC now owns 43,229 shares of the company's stock valued at $1,011,000 after purchasing an additional 762 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Magnolia Oil & Gas by 4.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,076,541 shares of the company's stock valued at $48,550,000 after buying an additional 85,524 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Magnolia Oil & Gas in the fourth quarter worth about $590,000. Proficio Capital Partners LLC bought a new stake in shares of Magnolia Oil & Gas during the 4th quarter worth about $292,000. Finally, Mitsubishi UFJ Asset Management UK Ltd. acquired a new position in shares of Magnolia Oil & Gas during the 4th quarter valued at about $912,000. 94.73% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on MGY shares. UBS Group started coverage on 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. Piper Sandler reduced their price objective 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. Williams Trading set a $29.00 target price on shares of Magnolia Oil & Gas in a research note on Wednesday, March 5th. Truist Financial lifted their target price 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. Finally, Citigroup decreased their price target 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. Two investment 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 MarketBeat.com, Magnolia Oil & Gas currently has an average rating of "Hold" and a consensus target price of $27.21.

Magnolia Oil & Gas Price Performance

Shares of MGY stock opened at $20.79 on Wednesday. The company has a market capitalization of $4.04 billion, a P/E ratio of 10.77, a P/E/G ratio of 3.01 and a beta of 1.25. The company has a current ratio of 1.42, a quick ratio of 1.47 and a debt-to-equity ratio of 0.20. Magnolia Oil & Gas Co. has a 12 month low of $19.09 and a 12 month high of $29.02. The stock has a 50 day moving average of $22.46 and a two-hundred day moving average of $24.26.

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, topping analysts' consensus estimates 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 last year, the company earned $0.46 earnings per share. The company's revenue for the quarter was up 9.7% compared to the same quarter last year. As a group, equities analysts expect that Magnolia Oil & Gas Co. will post 2.1 EPS for the current year.

Magnolia Oil & Gas Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Monday, May 12th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.89%. The ex-dividend date is Monday, May 12th. Magnolia Oil & Gas's dividend payout ratio (DPR) is currently 29.85%.

Insider Transactions at Magnolia Oil & Gas

In related news, CEO Christopher G. Stavros purchased 2,500 shares of the firm's stock in a transaction dated Monday, March 3rd. The shares were acquired at an average cost of $22.05 per share, with a total value of $55,125.00. Following the completion of the purchase, the chief executive officer now directly 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.20% of the stock is owned by company insiders.

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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