Magnolia Oil & Gas Corp (NYSE:MGY) Shares Bought by Bessemer Group Inc.

Bessemer Group Inc. grew its holdings in Magnolia Oil & Gas Corp (NYSE:MGY - Free Report) by 4.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 836,386 shares of the company's stock after purchasing an additional 35,575 shares during the quarter. Bessemer Group Inc. owned 0.43% of Magnolia Oil & Gas worth $21,127,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the business. Larson Financial Group LLC raised its stake in shares of Magnolia Oil & Gas by 112.3% in the fourth quarter. Larson Financial Group LLC now owns 1,072 shares of the company's stock valued at $25,000 after acquiring an additional 567 shares in the last quarter. Opal Wealth Advisors LLC acquired a new position in shares of Magnolia Oil & Gas during the first quarter worth about $30,000. Quarry LP raised its holdings in Magnolia Oil & Gas by 1,047.8% in the fourth quarter. Quarry LP now owns 2,135 shares of the company's stock valued at $50,000 after acquiring an additional 1,949 shares in the last quarter. Parallel Advisors LLC lifted its stake in Magnolia Oil & Gas by 122.8% in the first quarter. Parallel Advisors LLC now owns 2,308 shares of the company's stock worth $58,000 after acquiring an additional 1,272 shares during the last quarter. Finally, Smartleaf Asset Management LLC increased its position in shares of Magnolia Oil & Gas by 95.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 3,777 shares of the company's stock valued at $88,000 after purchasing an additional 1,844 shares during the last quarter. 94.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MGY has been the topic of several recent analyst reports. Citigroup dropped their target price on Magnolia Oil & Gas from $22.00 to $19.00 and set a "sell" rating on the stock in a report on Tuesday, April 8th. Wells Fargo & Company dropped their price target on shares of Magnolia Oil & Gas from $22.00 to $21.00 and set an "underweight" rating on the stock in a research note on Monday, June 16th. Williams Trading set a $29.00 price objective on shares of Magnolia Oil & Gas in a research report on Wednesday, March 5th. UBS Group reaffirmed a "buy" rating and issued a $29.00 target price (up from $26.00) on shares of Magnolia Oil & Gas in a research report on Friday, June 13th. Finally, Bank of America lifted their price target on shares of Magnolia Oil & Gas from $23.00 to $25.00 and gave the stock a "neutral" rating in a research note on Friday, May 23rd. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $27.00.

Magnolia Oil & Gas Stock Performance

Magnolia Oil & Gas stock traded down $0.19 during midday trading on Friday, hitting $22.98. 8,280,797 shares of the company's stock were exchanged, compared to its average volume of 2,331,501. The firm's 50 day simple moving average is $22.28 and its 200 day simple moving average is $23.25. Magnolia Oil & Gas Corp 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 1.33 and a current ratio of 1.33. The stock has a market cap of $4.42 billion, a price-to-earnings ratio of 11.43, a price-to-earnings-growth ratio of 3.05 and a beta of 1.29.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.02. The business had revenue of $350.30 million during the quarter, compared to the consensus estimate of $337.83 million. Magnolia Oil & Gas had a net margin of 28.50% and a return on equity of 20.73%. The business's quarterly revenue was up 9.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.46 earnings per share. Equities research analysts predict that Magnolia Oil & Gas Corp will post 2.1 EPS for the current year.

Magnolia Oil & Gas Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 12th were given a dividend of $0.15 per share. The ex-dividend date was Monday, May 12th. This represents a $0.60 dividend on an annualized basis and a yield of 2.61%. Magnolia Oil & Gas's payout ratio is 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.