ProShare Advisors LLC Raises Position in Magnolia Oil & Gas Co. (NYSE:MGY)

ProShare Advisors LLC lifted its stake in shares of Magnolia Oil & Gas Co. (NYSE:MGY - Free Report) by 44.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 52,547 shares of the company's stock after purchasing an additional 16,120 shares during the quarter. ProShare Advisors LLC's holdings in Magnolia Oil & Gas were worth $1,229,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Barclays PLC lifted its holdings in shares of Magnolia Oil & Gas by 62.5% during the 3rd quarter. Barclays PLC now owns 1,653,736 shares of the company's stock worth $40,383,000 after acquiring an additional 636,049 shares during the period. Park Avenue Securities LLC boosted its holdings in shares of Magnolia Oil & Gas by 30.8% in the 4th quarter. Park Avenue Securities LLC now owns 13,336 shares of the company's stock valued at $312,000 after purchasing an additional 3,142 shares in the last quarter. Avior Wealth Management LLC increased its stake 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 purchasing an additional 506 shares during the last quarter. Exchange Traded Concepts LLC increased its stake in shares of Magnolia Oil & Gas by 3.0% in the 4th quarter. Exchange Traded Concepts LLC now owns 35,694 shares of the company's stock valued at $835,000 after purchasing an additional 1,049 shares during the last quarter. Finally, KBC Group NV lifted its position in shares of Magnolia Oil & Gas by 52.2% during the 4th quarter. KBC Group NV now owns 7,757 shares of the company's stock worth $181,000 after buying an additional 2,662 shares during the last quarter. Institutional investors own 94.73% of the company's stock.

Magnolia Oil & Gas Stock Performance

Shares of MGY stock traded down $0.11 during trading hours on Wednesday, hitting $22.01. 222,434 shares of the company were exchanged, compared to its average volume of 2,274,118. 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 firm has a fifty day simple moving average of $22.11 and a 200 day simple moving average of $23.87. Magnolia Oil & Gas Co. has a 52-week low of $19.09 and a 52-week high of $29.02. The stock has a market capitalization of $4.24 billion, a price-to-earnings ratio of 11.40, a P/E/G ratio of 3.01 and a beta of 1.25.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.55 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.53 by $0.02. The company had revenue of $350.30 million for the quarter, compared to the consensus estimate of $337.83 million. Magnolia Oil & Gas had a return on equity of 20.74% and a net margin of 27.82%. The firm's revenue was up 9.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.46 earnings per share. 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 business also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Monday, May 12th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 2.73%. The ex-dividend date is Monday, May 12th. Magnolia Oil & Gas's dividend payout ratio (DPR) is currently 29.85%.

Insider Transactions at Magnolia Oil & Gas

In other news, CEO Christopher G. Stavros acquired 2,500 shares of the firm's stock in a transaction on Monday, March 3rd. The shares were purchased at an average price of $22.05 per share, for a total transaction of $55,125.00. Following the completion of the transaction, the chief executive officer now owns 892,372 shares of the company's stock, valued at $19,676,802.60. The trade was a 0.28% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.20% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

MGY has been the subject of several research analyst reports. Piper Sandler lowered their target price on Magnolia Oil & Gas from $25.00 to $24.00 and set a "neutral" rating for the company in a research note on Tuesday, May 13th. Johnson Rice lowered Magnolia Oil & Gas from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, January 28th. Citigroup decreased their price objective on Magnolia Oil & Gas from $22.00 to $19.00 and set a "sell" rating for the company in a report on Tuesday, April 8th. Susquehanna cut their price objective on Magnolia Oil & Gas from $31.00 to $30.00 and set a "positive" rating on the stock in a research note on Tuesday, April 22nd. Finally, UBS Group began coverage on shares of Magnolia Oil & Gas in a research report on Tuesday, April 22nd. They set a "buy" rating and a $26.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $26.93.

Magnolia Oil & Gas 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.