Gallo Partners LP Takes $975,000 Position in Magnolia Oil & Gas Co. (NYSE:MGY)

Gallo Partners LP purchased a new stake in shares of Magnolia Oil & Gas Co. (NYSE:MGY - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 41,710 shares of the company's stock, valued at approximately $975,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Schonfeld Strategic Advisors LLC acquired a new stake in Magnolia Oil & Gas in the 4th quarter valued at approximately $4,561,000. Lido Advisors LLC acquired a new position in Magnolia Oil & Gas during the 4th quarter worth about $227,000. Northern Trust Corp boosted its holdings in Magnolia Oil & Gas by 7.3% during the 4th quarter. Northern Trust Corp now owns 1,936,398 shares of the company's stock valued at $45,273,000 after acquiring an additional 131,941 shares during the period. The Manufacturers Life Insurance Company grew its position in Magnolia Oil & Gas by 7.9% in the 4th quarter. The Manufacturers Life Insurance Company now owns 1,777,721 shares of the company's stock valued at $41,563,000 after acquiring an additional 129,408 shares in the last quarter. Finally, Tudor Investment Corp ET AL increased its stake in Magnolia Oil & Gas by 37.7% during the fourth quarter. Tudor Investment Corp ET AL now owns 103,098 shares of the company's stock worth $2,410,000 after purchasing an additional 28,206 shares during the period. 94.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Citigroup dropped their price objective 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. JPMorgan Chase & Co. dropped their price target on shares of Magnolia Oil & Gas from $28.00 to $24.00 and set a "neutral" rating for the company in a research note on Thursday, March 13th. UBS Group started coverage on Magnolia Oil & Gas in a research note on Tuesday, April 22nd. They issued a "buy" rating and a $26.00 price objective on the stock. Piper Sandler lowered their target price on Magnolia Oil & Gas from $26.00 to $25.00 and set a "neutral" rating for the company in a research note on Tuesday, April 22nd. Finally, Johnson Rice lowered Magnolia Oil & Gas from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, January 28th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $27.21.

Magnolia Oil & Gas Stock Up 1.1 %

Shares of NYSE MGY traded up $0.23 during mid-day trading on Friday, reaching $21.32. The company had a trading volume of 2,129,464 shares, compared to its average volume of 2,318,406. The firm has a 50 day simple moving average of $22.57 and a two-hundred day simple moving average of $24.35. Magnolia Oil & Gas Co. has a 52-week low of $19.09 and a 52-week high of $29.02. 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 $4.14 billion, a P/E ratio of 11.05, a PEG ratio of 3.01 and a beta of 1.25.

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

Magnolia Oil & Gas Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Monday, May 12th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 2.81%. The ex-dividend date is Monday, May 12th. Magnolia Oil & Gas's payout ratio is currently 29.85%.

Insider Transactions at Magnolia Oil & Gas

In related news, CEO Christopher G. Stavros purchased 2,500 shares of the company's stock in a transaction that occurred 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 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 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.