Man Group plc Acquires 27,039 Shares of Magnolia Oil & Gas Co. (NYSE:MGY)

Man Group plc raised its holdings in Magnolia Oil & Gas Co. (NYSE:MGY - Free Report) by 9.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 321,509 shares of the company's stock after acquiring an additional 27,039 shares during the quarter. Man Group plc owned about 0.16% of Magnolia Oil & Gas worth $7,517,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of MGY. Isthmus Partners LLC grew its holdings in shares of Magnolia Oil & Gas by 5.2% in the 4th quarter. Isthmus Partners LLC now owns 9,320 shares of the company's stock worth $218,000 after purchasing an additional 460 shares during the last quarter. OneDigital Investment Advisors LLC raised its holdings in Magnolia Oil & Gas by 3.0% during the 4th quarter. OneDigital Investment Advisors LLC now owns 15,768 shares of the company's stock worth $369,000 after buying an additional 464 shares during the period. Avior Wealth Management LLC raised its holdings in shares of Magnolia Oil & Gas by 30.0% in the fourth quarter. Avior Wealth Management LLC now owns 2,194 shares of the company's stock valued at $51,000 after purchasing an additional 506 shares during the last quarter. Mather Group LLC. raised its holdings in shares of Magnolia Oil & Gas by 100.0% in the fourth quarter. Mather Group LLC. now owns 1,090 shares of the company's stock valued at $25,000 after purchasing an additional 545 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in shares of Magnolia Oil & Gas by 1.4% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 40,783 shares of the company's stock valued at $954,000 after purchasing an additional 564 shares during the last quarter. 94.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Piper Sandler lowered their target price on shares of Magnolia Oil & Gas from $25.00 to $24.00 and set a "neutral" rating on the stock in a report on Tuesday, May 13th. Williams Trading set a $29.00 target price on shares of Magnolia Oil & Gas in a report on Wednesday, March 5th. UBS Group initiated coverage on shares of Magnolia Oil & Gas in a report on Tuesday, April 22nd. They set a "buy" rating and a $26.00 target price on the stock. The Goldman Sachs Group cut shares of Magnolia Oil & Gas from a "buy" rating to a "neutral" rating and reduced their price objective for the stock from $27.00 to $26.00 in a research report on Friday, January 31st. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Magnolia Oil & Gas from $28.00 to $24.00 and set a "neutral" rating for the company in a research report on Thursday, March 13th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $26.93.

Magnolia Oil & Gas Trading Down 0.2%

MGY stock traded down $0.04 during trading on Friday, hitting $21.67. The company had a trading volume of 1,163,227 shares, compared to its average volume of 2,284,937. Magnolia Oil & Gas Co. has a one year low of $19.09 and a one year high of $29.02. The business has a 50-day moving average of $22.24 and a 200-day moving average of $23.93. The company has a current ratio of 1.42, a quick ratio of 1.47 and a debt-to-equity ratio of 0.20. The stock has a market cap of $4.17 billion, a PE ratio of 11.23, 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 for the quarter, topping the consensus estimate 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 company had revenue of $350.30 million during the quarter, compared to the consensus estimate of $337.83 million. During the same quarter in the prior year, the company earned $0.46 EPS. The firm's quarterly revenue was up 9.7% compared to the same quarter last year. Research analysts predict that Magnolia Oil & Gas Co. will post 2.1 earnings per share for the current fiscal year.

Magnolia Oil & Gas Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Monday, May 12th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Monday, May 12th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.77%. Magnolia Oil & Gas's dividend payout ratio is presently 29.85%.

Insider Activity at Magnolia Oil & Gas

In other Magnolia Oil & Gas news, CEO Christopher G. Stavros bought 2,500 shares of Magnolia Oil & Gas stock in a transaction that occurred on Monday, March 3rd. The shares were bought at an average cost of $22.05 per share, with a total value of $55,125.00. Following the transaction, the chief executive officer now directly owns 892,372 shares of the company's stock, valued at approximately $19,676,802.60. This represents a 0.28% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.20% of the stock is currently owned by insiders.

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.