Wasatch Advisors LP Acquires 484,683 Shares of Magnolia Oil & Gas Co. (NYSE:MGY)

Wasatch Advisors LP grew its holdings in Magnolia Oil & Gas Co. (NYSE:MGY - Free Report) by 21.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,773,828 shares of the company's stock after purchasing an additional 484,683 shares during the quarter. Wasatch Advisors LP owned about 1.41% of Magnolia Oil & Gas worth $64,852,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in MGY. Jump Financial LLC lifted its position in Magnolia Oil & Gas by 115.1% during the 4th quarter. Jump Financial LLC now owns 222,860 shares of the company's stock worth $5,210,000 after buying an additional 119,260 shares in the last quarter. Mariner LLC raised its position in Magnolia Oil & Gas by 1.8% in the 4th quarter. Mariner LLC now owns 43,229 shares of the company's stock worth $1,011,000 after purchasing an additional 762 shares during the last quarter. Summit Investment Advisors Inc. lifted its holdings in Magnolia Oil & Gas by 3.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 18,119 shares of the company's stock worth $424,000 after buying an additional 574 shares in the last quarter. Bessemer Group Inc. boosted its position in Magnolia Oil & Gas by 4.1% in the 4th quarter. Bessemer Group Inc. now owns 800,811 shares of the company's stock valued at $18,722,000 after buying an additional 31,840 shares during the last quarter. Finally, Renaissance Technologies LLC increased its stake in shares of Magnolia Oil & Gas by 910.5% in the 4th quarter. Renaissance Technologies LLC now owns 541,400 shares of the company's stock valued at $12,658,000 after buying an additional 487,820 shares during the period. Institutional investors own 94.73% of the company's stock.

Magnolia Oil & Gas Stock Down 3.9 %

Shares of Magnolia Oil & Gas stock traded down $0.82 during trading hours on Monday, reaching $20.27. 526,236 shares of the company's stock were exchanged, compared to its average volume of 2,283,283. The stock has a market cap of $3.94 billion, a P/E ratio of 10.50, a P/E/G ratio of 3.01 and a beta of 1.57. The company has a current ratio of 1.42, a quick ratio of 1.47 and a debt-to-equity ratio of 0.20. Magnolia Oil & Gas Co. has a fifty-two week low of $19.09 and a fifty-two week high of $29.02. The company has a 50 day moving average of $23.11 and a two-hundred day moving average of $24.71.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last issued its quarterly earnings data on Tuesday, February 18th. The company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.03. Magnolia Oil & Gas had a net margin of 27.82% and a return on equity of 20.74%. The company had revenue of $326.61 million for the quarter, compared to analyst estimates of $327.40 million. On average, sell-side analysts forecast that Magnolia Oil & Gas Co. will post 2.1 EPS for the current fiscal year.

Magnolia Oil & Gas Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were paid a $0.15 dividend. This is an increase from Magnolia Oil & Gas's previous quarterly dividend of $0.13. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.96%. The ex-dividend date of this dividend was Friday, February 14th. Magnolia Oil & Gas's dividend payout ratio (DPR) is presently 31.09%.

Insiders Place Their Bets

In related news, CEO Christopher G. Stavros purchased 2,500 shares of Magnolia Oil & Gas stock in a transaction on Monday, March 3rd. The stock was acquired at an average cost of $22.05 per share, for a total transaction of $55,125.00. Following the completion of the acquisition, the chief executive officer now owns 892,372 shares of the company's stock, 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 SEC, which can be accessed through this link. Insiders own 1.20% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on MGY. The Goldman Sachs Group lowered shares of 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. Williams Trading set a $29.00 target price on Magnolia Oil & Gas in a research report on Wednesday, March 5th. Bank of America reiterated a "neutral" rating and issued a $28.00 price target (down from $29.00) on shares of Magnolia Oil & Gas in a research report on Monday, January 13th. Piper Sandler increased their target price on shares of Magnolia Oil & Gas from $24.00 to $26.00 and gave the stock a "neutral" rating in a report on Wednesday, January 29th. Finally, Truist Financial lifted their target price on Magnolia Oil & Gas from $33.00 to $34.00 and gave the stock a "buy" rating in a report on Monday, January 13th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $27.54.

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.