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

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

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Isthmus Partners LLC grew its position 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 valued at $218,000 after acquiring an additional 460 shares during the period. OneDigital Investment Advisors LLC grew its position in shares of Magnolia Oil & Gas by 3.0% in the 4th quarter. OneDigital Investment Advisors LLC now owns 15,768 shares of the company's stock valued at $369,000 after acquiring an additional 464 shares during the period. Avior Wealth Management LLC grew its position in shares of Magnolia Oil & Gas by 30.0% in the 4th quarter. Avior Wealth Management LLC now owns 2,194 shares of the company's stock valued at $51,000 after acquiring an additional 506 shares during the period. Mather Group LLC. grew its position in shares of Magnolia Oil & Gas by 100.0% in the 4th quarter. Mather Group LLC. now owns 1,090 shares of the company's stock valued at $25,000 after acquiring an additional 545 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of Magnolia Oil & Gas by 1.4% in the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 40,783 shares of the company's stock valued at $954,000 after acquiring an additional 564 shares during the period. Institutional investors own 94.73% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on MGY. UBS Group began 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 for the company. Citigroup reduced their target price on shares of Magnolia Oil & Gas from $22.00 to $19.00 and set a "sell" rating for the company in a report on Tuesday, April 8th. Williams Trading set a $29.00 target price on shares of Magnolia Oil & Gas in a report on Wednesday, March 5th. Susquehanna reduced their target price on shares of Magnolia Oil & Gas from $31.00 to $30.00 and set a "positive" rating for the company in a report on Tuesday, April 22nd. Finally, Piper Sandler reduced their target price on shares of Magnolia Oil & Gas from $25.00 to $24.00 and set a "neutral" rating for the company in a report on Tuesday, May 13th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $27.14.

Magnolia Oil & Gas Price Performance

Shares of Magnolia Oil & Gas stock opened at $22.36 on Tuesday. The company has a 50-day simple moving average of $22.36 and a two-hundred day simple moving average of $24.05. The stock has a market capitalization of $4.30 billion, a price-to-earnings ratio of 11.59, a price-to-earnings-growth ratio of 3.01 and a beta of 1.25. The company has a quick ratio of 1.47, a current ratio of 1.42 and a debt-to-equity ratio of 0.20. Magnolia Oil & Gas Co. has a twelve month low of $19.09 and a twelve month high of $29.02.

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

Magnolia Oil & Gas Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Monday, May 12th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 2.68%. The ex-dividend date of this dividend is Monday, May 12th. Magnolia Oil & Gas's payout ratio is presently 29.85%.

Insider Activity

In related news, CEO Christopher G. Stavros purchased 2,500 shares of the firm's 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 acquisition, the chief executive officer now owns 892,372 shares of the company's stock, valued at $19,676,802.60. This trade represents a 0.28% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 1.20% of the company's stock.

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.

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