GF Fund Management CO. LTD. Takes $1.37 Million Position in Magnolia Oil & Gas Co. (NYSE:MGY)

GF Fund Management CO. LTD. purchased a new stake in shares of Magnolia Oil & Gas Co. (NYSE:MGY - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 58,605 shares of the company's stock, valued at approximately $1,370,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. First Trust Advisors LP increased its position in Magnolia Oil & Gas by 24.6% during the 4th quarter. First Trust Advisors LP now owns 15,410,496 shares of the company's stock valued at $360,297,000 after buying an additional 3,038,709 shares in the last quarter. Janus Henderson Group PLC raised its stake in shares of Magnolia Oil & Gas by 11.7% in the fourth quarter. Janus Henderson Group PLC now owns 6,396,875 shares of the company's stock worth $149,559,000 after purchasing an additional 667,973 shares during the last quarter. Barclays PLC lifted its holdings in shares of Magnolia Oil & Gas by 62.5% during the third quarter. Barclays PLC now owns 1,653,736 shares of the company's stock worth $40,383,000 after purchasing an additional 636,049 shares during the period. Raymond James Financial Inc. purchased a new stake in Magnolia Oil & Gas in the fourth quarter valued at approximately $13,634,000. Finally, Renaissance Technologies LLC boosted its position in Magnolia Oil & Gas by 910.5% in the fourth quarter. Renaissance Technologies LLC now owns 541,400 shares of the company's stock valued at $12,658,000 after buying an additional 487,820 shares during the last quarter. 94.73% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Magnolia Oil & Gas

In other news, CEO Christopher G. Stavros purchased 2,500 shares of the company's stock in a transaction dated Monday, March 3rd. The stock was acquired at an average price of $22.05 per share, with a total value of $55,125.00. Following the purchase, the chief executive officer now directly owns 892,372 shares in the company, valued at approximately $19,676,802.60. This represents a 0.28% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 1.20% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on MGY. Bank of America raised 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 report on Friday, May 23rd. Susquehanna dropped their price objective on Magnolia Oil & Gas from $31.00 to $30.00 and set a "positive" rating on the stock in a report on Tuesday, April 22nd. Williams Trading set a $29.00 target price on Magnolia Oil & Gas in a research note on Wednesday, March 5th. JPMorgan Chase & Co. cut their price target on shares of Magnolia Oil & Gas from $28.00 to $24.00 and set a "neutral" rating for the company in a report on Thursday, March 13th. Finally, Piper Sandler reduced their price target on shares of Magnolia Oil & Gas from $25.00 to $24.00 and set a "neutral" rating for the company in a research report on Tuesday, May 13th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Magnolia Oil & Gas presently has a consensus rating of "Hold" and a consensus target price of $26.93.

Magnolia Oil & Gas Price Performance

NYSE MGY traded down $0.23 during trading hours on Friday, hitting $21.66. 519,861 shares of the company's stock traded hands, compared to its average volume of 2,269,152. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.42 and a quick ratio of 1.47. The firm's 50-day moving average is $21.98 and its 200-day moving average is $23.82. Magnolia Oil & Gas Co. has a 52-week low of $19.09 and a 52-week high of $29.02. The company has a market capitalization of $4.17 billion, a PE ratio of 11.21, a PEG ratio of 3.01 and a beta of 1.25.

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

Magnolia Oil & Gas Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders 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 2.77%. The ex-dividend date of this dividend is Monday, May 12th. Magnolia Oil & Gas's dividend payout ratio (DPR) is presently 29.85%.

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.