Ashton Thomas Private Wealth LLC Has $2.42 Million Stake in Magnolia Oil & Gas Corp $MGY

Key Points

• Ashton Thomas Private Wealth LLC increased its stake in Magnolia Oil & Gas (MGY) by 134.5% in Q4, adding 63,411 shares to hold 110,567 shares worth about $2.42 million.
• Company insiders sold sizable positions on March 9 — CEO Christopher Stavros sold 119,954 shares and EVP Timothy Yang sold 150,000 shares — and insiders have sold 338,954 shares (~$9.91 million) in the past 90 days, leaving insiders with about 0.92% ownership.
• Analyst sentiment is mildly positive with a consensus rating of "Moderate Buy" and a $31.08 average price target, while Magnolia raised its quarterly dividend to $0.165 (annualized $0.66, ~2.2% yield).

Ashton Thomas Private Wealth LLC grew its stake in Magnolia Oil & Gas Corp (NYSE:MGY - Free Report) by 134.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 110,567 shares of the company's stock after purchasing an additional 63,411 shares during the period. Ashton Thomas Private Wealth LLC owned about 0.06% of Magnolia Oil & Gas worth $2,420,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Salomon & Ludwin LLC grew its position in Magnolia Oil & Gas by 130.1% in the 4th quarter. Salomon & Ludwin LLC now owns 1,344 shares of the company's stock worth $29,000 after purchasing an additional 760 shares during the last quarter. Mather Group LLC. acquired a new stake in Magnolia Oil & Gas in the 3rd quarter worth $31,000. EverSource Wealth Advisors LLC grew its position in Magnolia Oil & Gas by 165.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,386 shares of the company's stock worth $31,000 after purchasing an additional 864 shares during the last quarter. First Horizon Corp grew its position in Magnolia Oil & Gas by 159.8% in the 4th quarter. First Horizon Corp now owns 1,889 shares of the company's stock worth $41,000 after purchasing an additional 1,162 shares during the last quarter. Finally, Geneos Wealth Management Inc. grew its position in Magnolia Oil & Gas by 90.5% in the 2nd quarter. Geneos Wealth Management Inc. now owns 2,212 shares of the company's stock worth $50,000 after purchasing an additional 1,051 shares during the last quarter. 94.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Magnolia Oil & Gas

In related news, CEO Christopher G. Stavros sold 119,954 shares of Magnolia Oil & Gas stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $29.29, for a total transaction of $3,513,452.66. Following the completion of the transaction, the chief executive officer directly owned 883,592 shares of the company's stock, valued at $25,880,409.68. This trade represents a 11.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Timothy D. Yang sold 150,000 shares of Magnolia Oil & Gas stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $29.29, for a total transaction of $4,393,500.00. Following the transaction, the executive vice president directly owned 526,661 shares of the company's stock, valued at $15,425,900.69. This represents a 22.17% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 338,954 shares of company stock worth $9,911,733 in the last 90 days. 0.92% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

MGY has been the topic of several research analyst reports. Wells Fargo & Company raised their price target on shares of Magnolia Oil & Gas from $25.00 to $32.00 and gave the stock an "equal weight" rating in a research report on Friday, April 10th. Piper Sandler lifted their target price on shares of Magnolia Oil & Gas from $28.00 to $31.00 and gave the company a "neutral" rating in a research report on Thursday, March 12th. Bank of America upgraded shares of Magnolia Oil & Gas from a "neutral" rating to a "buy" rating and lifted their target price for the company from $26.00 to $28.00 in a research report on Friday, January 16th. Siebert Williams Shank lowered shares of Magnolia Oil & Gas from a "buy" rating to a "hold" rating in a research report on Friday, March 6th. Finally, BMO Capital Markets started coverage on shares of Magnolia Oil & Gas in a research report on Friday, January 9th. They set an "outperform" rating and a $27.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $31.08.

Magnolia Oil & Gas Price Performance

Shares of Magnolia Oil & Gas stock opened at $29.35 on Wednesday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.54 and a current ratio of 1.54. The firm's 50-day simple moving average is $29.39 and its 200-day simple moving average is $25.39. Magnolia Oil & Gas Corp has a twelve month low of $20.25 and a twelve month high of $32.76. The firm has a market cap of $5.47 billion, a P/E ratio of 17.06, a price-to-earnings-growth ratio of 1.72 and a beta of 0.83.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last issued its earnings results on Thursday, February 5th. The company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.01. Magnolia Oil & Gas had a net margin of 24.79% and a return on equity of 16.67%. The business had revenue of $317.63 million for the quarter, compared to analyst estimates of $322.18 million. During the same period in the previous year, the business earned $0.44 EPS. The firm's revenue was down 2.8% on a year-over-year basis. As a group, research analysts expect that Magnolia Oil & Gas Corp will post 2.74 EPS for the current fiscal year.

Magnolia Oil & Gas Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 2nd. Stockholders of record on Tuesday, February 10th were given a dividend of $0.165 per share. This is an increase from Magnolia Oil & Gas's previous quarterly dividend of $0.15. The ex-dividend date was Tuesday, February 10th. This represents a $0.66 annualized dividend and a dividend yield of 2.2%. Magnolia Oil & Gas's dividend payout ratio (DPR) is presently 38.37%.

About Magnolia Oil & Gas

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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