Nicholas Investment Partners LP Acquires 53,586 Shares of Magnolia Oil & Gas Co. (NYSE:MGY)

Nicholas Investment Partners LP lifted its position in shares of Magnolia Oil & Gas Co. (NYSE:MGY - Free Report) by 61.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 140,833 shares of the company's stock after purchasing an additional 53,586 shares during the period. Nicholas Investment Partners LP owned 0.07% of Magnolia Oil & Gas worth $3,293,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. First Trust Advisors LP lifted its holdings in shares of Magnolia Oil & Gas by 24.6% during the 4th quarter. First Trust Advisors LP now owns 15,410,496 shares of the company's stock worth $360,297,000 after acquiring an additional 3,038,709 shares during the period. Janus Henderson Group PLC boosted its position in Magnolia Oil & Gas by 11.7% during the 4th quarter. Janus Henderson Group PLC now owns 6,396,875 shares of the company's stock worth $149,559,000 after buying an additional 667,973 shares during the period. Barclays PLC grew its stake in shares of Magnolia Oil & Gas by 62.5% in the third quarter. Barclays PLC now owns 1,653,736 shares of the company's stock worth $40,383,000 after purchasing an additional 636,049 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Magnolia Oil & Gas in the fourth quarter valued at about $13,634,000. Finally, Renaissance Technologies LLC increased its position in Magnolia Oil & Gas by 910.5% during the 4th quarter. Renaissance Technologies LLC now owns 541,400 shares of the company's stock valued at $12,658,000 after purchasing an additional 487,820 shares during the period. Institutional investors own 94.73% of the company's stock.

Insiders Place Their Bets

In other Magnolia Oil & Gas news, CEO Christopher G. Stavros bought 2,500 shares of Magnolia Oil & Gas stock in a transaction dated Monday, March 3rd. The shares were 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 owns 892,372 shares of the company's stock, valued at approximately $19,676,802.60. This represents a 0.28% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.20% of the company's stock.

Magnolia Oil & Gas Price Performance

NYSE:MGY traded down $0.13 during mid-day trading on Friday, hitting $22.64. 1,356,023 shares of the stock traded hands, compared to its average volume of 2,295,481. The business's 50-day moving average price is $22.38 and its 200 day moving average price is $24.09. The company has a market cap of $4.40 billion, a PE ratio of 11.73, a price-to-earnings-growth ratio of 3.01 and a beta of 1.25. 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 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 company had revenue of $350.30 million for the quarter, compared to analysts' expectations of $337.83 million. Magnolia Oil & Gas had a net margin of 27.82% and a return on equity of 20.74%. Magnolia Oil & Gas's revenue for the quarter was up 9.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.46 earnings per share. On average, analysts expect that Magnolia Oil & Gas Co. will post 2.1 EPS for the current fiscal year.

Magnolia Oil & Gas Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Monday, May 12th will be given a $0.15 dividend. 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 2.65%. Magnolia Oil & Gas's payout ratio is 29.85%.

Analyst Ratings Changes

A number of brokerages have weighed in on MGY. The Goldman Sachs Group downgraded Magnolia Oil & Gas from a "buy" rating to a "neutral" rating and decreased their price target for the stock from $27.00 to $26.00 in a report on Friday, January 31st. Johnson Rice lowered shares of Magnolia Oil & Gas from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, January 28th. Susquehanna decreased their price target on Magnolia Oil & Gas from $31.00 to $30.00 and set a "positive" rating for the company in a report on Tuesday, April 22nd. Piper Sandler decreased their price objective on shares of Magnolia Oil & Gas from $25.00 to $24.00 and set a "neutral" rating for the company in a research note on Tuesday. Finally, Citigroup lowered their price objective on shares of Magnolia Oil & Gas from $22.00 to $19.00 and set a "sell" rating on the stock in a research report on Tuesday, April 8th. Two research 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 MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $27.14.

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.