AlphaQuest LLC Has $1.34 Million Holdings in Magnolia Oil & Gas Corp $MGY

Key Points

• AlphaQuest LLC sharply increased its stake in Magnolia Oil & Gas, boosting holdings by 2,740% to 61,032 shares valued at about $1.34 million in the latest quarter.
• Institutional ownership remains heavy, with several other large investors also adding shares and 94.73% of the stock now held by institutional investors and hedge funds.
• Magnolia Oil & Gas reported better-than-expected quarterly earnings of $0.54 per share and also announced a quarterly dividend of $0.165 per share, for an annualized yield of about 2.4%.

AlphaQuest LLC lifted its position in shares of Magnolia Oil & Gas Corp (NYSE:MGY - Free Report) by 2,740.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 61,032 shares of the company's stock after buying an additional 58,883 shares during the quarter. AlphaQuest LLC's holdings in Magnolia Oil & Gas were worth $1,336,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. JPMorgan Chase & Co. grew its holdings in shares of Magnolia Oil & Gas by 34.8% during the third quarter. JPMorgan Chase & Co. now owns 858,972 shares of the company's stock valued at $20,504,000 after buying an additional 221,920 shares during the last quarter. Foster Victor Wealth Advisors LLC grew its holdings in shares of Magnolia Oil & Gas by 9.2% during the fourth quarter. Foster Victor Wealth Advisors LLC now owns 417,192 shares of the company's stock valued at $9,429,000 after buying an additional 35,223 shares during the last quarter. TD Asset Management Inc grew its holdings in shares of Magnolia Oil & Gas by 55.7% during the third quarter. TD Asset Management Inc now owns 4,478,361 shares of the company's stock valued at $106,898,000 after buying an additional 1,601,809 shares during the last quarter. Bessemer Group Inc. grew its holdings in shares of Magnolia Oil & Gas by 4.4% during the third quarter. Bessemer Group Inc. now owns 912,526 shares of the company's stock valued at $21,781,000 after buying an additional 38,502 shares during the last quarter. Finally, Heartland Advisors Inc. grew its holdings in shares of Magnolia Oil & Gas by 92.1% during the third quarter. Heartland Advisors Inc. now owns 576,290 shares of the company's stock valued at $13,756,000 after buying an additional 276,290 shares during the last quarter. 94.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MGY has been the topic of a number of recent analyst reports. Mizuho raised their price target on shares of Magnolia Oil & Gas from $33.00 to $35.00 and gave the company an "outperform" rating in a research report on Wednesday. Wells Fargo & Company lowered their target price on Magnolia Oil & Gas from $32.00 to $31.00 and set an "equal weight" rating on the stock in a research note on Wednesday, May 13th. Roth Mkm reissued a "neutral" rating and issued a $32.00 price target (up from $29.00) on shares of Magnolia Oil & Gas in a research report on Wednesday, April 8th. UBS Group boosted their price objective on Magnolia Oil & Gas from $29.00 to $35.00 and gave the company a "buy" rating in a research note on Thursday, March 5th. Finally, Siebert Williams Shank lowered shares of Magnolia Oil & Gas from a "buy" rating to a "hold" rating in a report on Friday, March 6th. Seven analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $31.42.

Magnolia Oil & Gas Price Performance

MGY stock opened at $27.77 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.10 and a current ratio of 1.10. Magnolia Oil & Gas Corp has a 52 week low of $21.07 and a 52 week high of $32.76. The firm's fifty day moving average is $29.69 and its 200 day moving average is $26.29. The firm has a market cap of $5.14 billion, a P/E ratio of 16.14 and a beta of 0.75.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last released its earnings results on Wednesday, May 6th. The company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.51 by $0.03. Magnolia Oil & Gas had a net margin of 24.40% and a return on equity of 16.28%. The company had revenue of $358.51 million for the quarter, compared to analyst estimates of $349.89 million. During the same quarter last year, the firm earned $0.54 EPS. The firm's quarterly revenue was up 2.3% compared to the same quarter last year. Research analysts predict that Magnolia Oil & Gas Corp will post 2.85 earnings per share for the current year.

Magnolia Oil & Gas Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Tuesday, May 12th will be issued a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Tuesday, May 12th. Magnolia Oil & Gas's dividend payout ratio (DPR) is 38.37%.

Insider Transactions at Magnolia Oil & Gas

In other news, Director Edward P. Djerejian sold 18,000 shares of Magnolia Oil & Gas stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $28.98, for a total transaction of $521,640.00. Following the sale, the director owned 110,425 shares of the company's stock, valued at approximately $3,200,116.50. The trade was a 14.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Brian Corales sold 33,000 shares of Magnolia Oil & Gas stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $29.12, for a total transaction of $960,960.00. Following the sale, the chief financial officer directly owned 184,178 shares in the company, valued at $5,363,263.36. The trade was a 15.19% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 338,954 shares of company stock worth $9,911,733. Corporate insiders own 0.92% of the company's stock.

Magnolia Oil & Gas Company Profile

Magnolia Oil & Gas Corp NYSE: MGY is an independent exploration and production company focused on the acquisition, development and optimization of onshore oil and gas assets in South Texas. Headquartered in Houston, the company concentrates its efforts on the Eagle Ford Shale, where it holds significant working interests in key producing counties.

The company's core operations center on horizontal drilling and multi-stage completions designed to extract light crude oil, natural gas and natural gas liquids (NGLs).

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