Squarepoint Ops LLC Acquires 223,476 Shares of Magnolia Oil & Gas Co. (NYSE:MGY)

Squarepoint Ops LLC boosted its stake in Magnolia Oil & Gas Co. (NYSE:MGY - Free Report) by 107.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 432,393 shares of the company's stock after purchasing an additional 223,476 shares during the period. Squarepoint Ops LLC owned approximately 0.22% of Magnolia Oil & Gas worth $10,109,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in MGY. Mather Group LLC. boosted its stake 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 worth $25,000 after buying an additional 545 shares during the last quarter. Larson Financial Group LLC boosted its position in Magnolia Oil & Gas by 112.3% in the fourth quarter. Larson Financial Group LLC now owns 1,072 shares of the company's stock worth $25,000 after purchasing an additional 567 shares during the last quarter. R Squared Ltd bought a new stake in shares of Magnolia Oil & Gas during the 4th quarter valued at about $43,000. Quarry LP grew its stake in shares of Magnolia Oil & Gas by 1,047.8% during the 4th quarter. Quarry LP now owns 2,135 shares of the company's stock valued at $50,000 after purchasing an additional 1,949 shares during the period. Finally, Avior Wealth Management LLC increased its position in shares of Magnolia Oil & Gas by 30.0% during 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. 94.73% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on MGY shares. Susquehanna dropped their price objective on shares of Magnolia Oil & Gas from $31.00 to $30.00 and set a "positive" rating on the stock in a report on Tuesday, April 22nd. UBS Group initiated 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 objective for the company. The Goldman Sachs Group cut Magnolia Oil & Gas from a "buy" rating to a "neutral" rating and decreased their target price for the stock from $27.00 to $26.00 in a report on Friday, January 31st. Bank of America lifted their target price on Magnolia Oil & Gas from $23.00 to $25.00 and gave the company a "neutral" rating in a research report on Friday. Finally, Williams Trading set a $29.00 price target on Magnolia Oil & Gas in a report on Wednesday, March 5th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $26.93.

Insider Activity

In other news, CEO Christopher G. Stavros acquired 2,500 shares of the business's stock in a transaction on Monday, March 3rd. The shares were acquired 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 directly owns 892,372 shares of the company's stock, valued at approximately $19,676,802.60. The trade was a 0.28% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.20% of the company's stock.

Magnolia Oil & Gas Price Performance

NYSE MGY traded up $0.44 on Tuesday, reaching $22.11. The company had a trading volume of 1,599,155 shares, compared to its average volume of 2,282,194. The stock has a market capitalization of $4.26 billion, a PE ratio of 11.46, a price-to-earnings-growth ratio of 3.01 and a beta of 1.25. Magnolia Oil & Gas Co. has a 12 month low of $19.09 and a 12 month high of $29.02. The company has a quick ratio of 1.47, a current ratio of 1.42 and a debt-to-equity ratio of 0.20. The firm's 50 day moving average price is $22.18 and its 200 day moving average price is $23.89.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last issued its earnings results on Wednesday, April 30th. The company reported $0.55 earnings per share (EPS) 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 firm had revenue of $350.30 million for the quarter, compared to analysts' expectations of $337.83 million. During the same period in the previous year, the firm posted $0.46 earnings per share. The business's revenue was up 9.7% compared to the same quarter last year. As a group, equities analysts predict that Magnolia Oil & Gas Co. will post 2.1 earnings per share for the current year.

Magnolia Oil & Gas Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Monday, May 12th will be given a dividend of $0.15 per share. The ex-dividend date is Monday, May 12th. This represents a $0.60 annualized dividend and a yield of 2.71%. Magnolia Oil & Gas's dividend payout ratio (DPR) is currently 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.