The Manufacturers Life Insurance Company Increases Stock Position in Magnolia Oil & Gas Co. (NYSE:MGY)

The Manufacturers Life Insurance Company increased its holdings in shares of Magnolia Oil & Gas Co. (NYSE:MGY - Free Report) by 7.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,777,721 shares of the company's stock after buying an additional 129,408 shares during the quarter. The Manufacturers Life Insurance Company owned 0.90% of Magnolia Oil & Gas worth $41,563,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MGY. Mather Group LLC. increased its position in shares of Magnolia Oil & Gas by 100.0% during the fourth quarter. Mather Group LLC. now owns 1,090 shares of the company's stock worth $25,000 after acquiring an additional 545 shares in the last quarter. Larson Financial Group LLC raised its stake in shares of Magnolia Oil & Gas by 112.3% in the 4th quarter. Larson Financial Group LLC now owns 1,072 shares of the company's stock valued at $25,000 after purchasing an additional 567 shares during the period. R Squared Ltd bought a new stake in shares of Magnolia Oil & Gas in the fourth quarter valued at about $43,000. Quarry LP boosted its position in shares of Magnolia Oil & Gas by 1,047.8% during the fourth quarter. Quarry LP now owns 2,135 shares of the company's stock worth $50,000 after buying an additional 1,949 shares during the period. Finally, Avior Wealth Management LLC boosted its position in shares of Magnolia Oil & Gas by 30.0% during the fourth quarter. Avior Wealth Management LLC now owns 2,194 shares of the company's stock worth $51,000 after buying an additional 506 shares during the period. 94.73% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CEO Christopher G. Stavros acquired 2,500 shares of the stock in a transaction dated Monday, March 3rd. The stock was purchased at an average cost of $22.05 per share, with a total value of $55,125.00. Following the completion of the purchase, the chief executive officer now directly owns 892,372 shares in the company, valued at $19,676,802.60. This trade represents a 0.28 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.20% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on MGY shares. The Goldman Sachs Group lowered shares of Magnolia Oil & Gas from a "buy" rating to a "neutral" rating and lowered their price target for the company from $27.00 to $26.00 in a research note on Friday, January 31st. Susquehanna reduced their price target on Magnolia Oil & Gas from $31.00 to $30.00 and set a "positive" rating for the company in a research report on Tuesday, April 22nd. Johnson Rice lowered Magnolia Oil & Gas from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, January 28th. Truist Financial increased their price objective on Magnolia Oil & Gas from $33.00 to $34.00 and gave the company a "buy" rating in a report on Monday, January 13th. Finally, Bank of America restated a "neutral" rating and set a $28.00 target price (down from $29.00) on shares of Magnolia Oil & Gas in a report on Monday, January 13th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $27.21.

Magnolia Oil & Gas Stock Up 2.5 %

MGY traded up $0.52 during midday trading on Tuesday, hitting $21.03. The company had a trading volume of 675,161 shares, compared to its average volume of 2,314,212. The company has a market capitalization of $4.08 billion, a price-to-earnings ratio of 10.90, a PEG ratio of 3.01 and a beta of 1.25. The stock's 50 day moving average price is $22.51 and its 200 day moving average price is $24.29. 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 52 week low of $19.09 and a 52 week high of $29.02.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last announced its quarterly 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. The business had revenue of $350.30 million for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.46 earnings per share. On average, research analysts anticipate that Magnolia Oil & Gas Co. will post 2.1 earnings per share for the current fiscal year.

Magnolia Oil & Gas Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Monday, May 12th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Monday, May 12th. This represents a $0.60 dividend on an annualized basis and a yield of 2.85%. Magnolia Oil & Gas's dividend payout ratio (DPR) is presently 29.85%.

About Magnolia Oil & Gas

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.