Voloridge Investment Management LLC Buys 40,073 Shares of Magnolia Oil & Gas Co. (NYSE:MGY)

Voloridge Investment Management LLC lifted its holdings in Magnolia Oil & Gas Co. (NYSE:MGY - Free Report) by 4.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 892,815 shares of the company's stock after purchasing an additional 40,073 shares during the quarter. Voloridge Investment Management LLC owned about 0.45% of Magnolia Oil & Gas worth $20,874,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. 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 purchasing an additional 460 shares during the period. OneDigital Investment Advisors LLC boosted its position 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 acquiring an additional 464 shares during the last quarter. Avior Wealth Management LLC boosted its position in Magnolia Oil & Gas by 30.0% during the 4th quarter. Avior Wealth Management LLC now owns 2,194 shares of the company's stock worth $51,000 after acquiring an additional 506 shares during the last quarter. Mather Group LLC. boosted its position in Magnolia Oil & Gas by 100.0% during the 4th quarter. Mather Group LLC. now owns 1,090 shares of the company's stock worth $25,000 after acquiring an additional 545 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in Magnolia Oil & Gas by 1.4% during the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 40,783 shares of the company's stock worth $954,000 after acquiring an additional 564 shares during the last quarter. 94.73% of the stock is currently owned by institutional investors and hedge funds.

Magnolia Oil & Gas Stock Performance

MGY stock traded down $0.02 during trading hours on Wednesday, hitting $22.10. 338,026 shares of the stock were exchanged, compared to its average volume of 2,274,554. 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 market capitalization of $4.25 billion, a P/E ratio of 11.46, a P/E/G ratio of 3.01 and a beta of 1.25. The company has a 50-day simple moving average of $22.11 and a two-hundred day simple moving average of $23.87. Magnolia Oil & Gas Co. has a 12 month low of $19.09 and a 12 month high of $29.02.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last posted its quarterly earnings data 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. The firm had revenue of $350.30 million for the quarter, compared to analysts' expectations of $337.83 million. Magnolia Oil & Gas had a return on equity of 20.74% and a net margin of 27.82%. The company's quarterly revenue was up 9.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.46 EPS. On average, analysts forecast that Magnolia Oil & Gas Co. will post 2.1 earnings per share for the current fiscal year.

Magnolia Oil & Gas Dividend Announcement

The company 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. This represents a $0.60 annualized dividend and a yield of 2.71%. The ex-dividend date is Monday, May 12th. Magnolia Oil & Gas's payout ratio is 29.85%.

Insiders Place Their Bets

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 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 approximately $19,676,802.60. This trade represents a 0.28% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 1.20% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on MGY. Williams Trading set a $29.00 price target on Magnolia Oil & Gas in a research report on Wednesday, March 5th. Citigroup cut 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. JPMorgan Chase & Co. cut their price objective on Magnolia Oil & Gas from $28.00 to $24.00 and set a "neutral" rating for the company in a report on Thursday, March 13th. The Goldman Sachs Group downgraded Magnolia Oil & Gas from a "buy" rating to a "neutral" rating and cut their price objective for the company from $27.00 to $26.00 in a report on Friday, January 31st. Finally, UBS Group assumed coverage on Magnolia Oil & Gas in a report on Tuesday, April 22nd. They issued a "buy" rating and a $26.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target 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.