Northern Trust Corp Buys 131,941 Shares of Magnolia Oil & Gas Co. (NYSE:MGY)

Northern Trust Corp boosted its stake in shares of Magnolia Oil & Gas Co. (NYSE:MGY - Free Report) by 7.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,936,398 shares of the company's stock after acquiring an additional 131,941 shares during the quarter. Northern Trust Corp owned about 0.99% of Magnolia Oil & Gas worth $45,273,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Albert D Mason Inc. lifted its holdings in shares of Magnolia Oil & Gas by 0.7% in the 4th quarter. Albert D Mason Inc. now owns 61,497 shares of the company's stock valued at $1,438,000 after buying an additional 411 shares during the period. Isthmus Partners LLC lifted its holdings 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 buying an additional 460 shares during the period. OneDigital Investment Advisors LLC lifted its holdings in shares of Magnolia Oil & Gas by 3.0% in the 4th quarter. OneDigital Investment Advisors LLC now owns 15,768 shares of the company's stock valued at $369,000 after buying an additional 464 shares during the period. Avior Wealth Management LLC lifted its holdings in shares of Magnolia Oil & Gas by 30.0% in the 4th quarter. Avior Wealth Management LLC now owns 2,194 shares of the company's stock valued at $51,000 after buying an additional 506 shares during the period. Finally, Mather Group LLC. lifted its holdings in shares of Magnolia Oil & Gas by 100.0% in the 4th quarter. Mather Group LLC. now owns 1,090 shares of the company's stock valued at $25,000 after buying an additional 545 shares during the period. 94.73% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Magnolia Oil & Gas

In other news, CEO Christopher G. Stavros purchased 2,500 shares of the stock in a transaction dated Monday, March 3rd. The shares were bought at an average cost of $22.05 per share, for a total transaction of $55,125.00. Following the transaction, the chief executive officer now owns 892,372 shares in the company, valued at $19,676,802.60. This trade represents a 0.28% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.20% of the stock is currently owned by insiders.

Analyst Ratings Changes

MGY has been the subject of several research reports. Williams Trading set a $29.00 price objective on Magnolia Oil & Gas in a report on Wednesday, March 5th. Citigroup reduced 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. Susquehanna reduced their price objective 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. Bank of America reissued a "neutral" rating and set a $28.00 price target (down previously from $29.00) on shares of Magnolia Oil & Gas in a research report on Monday, January 13th. Finally, Truist Financial upped their price objective on Magnolia Oil & Gas from $33.00 to $34.00 and gave the company a "buy" rating in a research report on Monday, January 13th. 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's stock. According to MarketBeat.com, Magnolia Oil & Gas has a consensus rating of "Hold" and a consensus price target of $27.21.

Magnolia Oil & Gas Stock Up 4.6%

Shares of NYSE MGY traded up $1.01 on Monday, hitting $23.00. The company had a trading volume of 2,673,525 shares, compared to its average volume of 2,311,472. Magnolia Oil & Gas Co. has a 12-month low of $19.09 and a 12-month high of $29.02. The business has a 50 day moving average of $22.38 and a two-hundred day moving average of $24.16. The company has a quick ratio of 1.47, a current ratio of 1.42 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $4.47 billion, a P/E ratio of 11.92, a PEG ratio of 3.01 and a beta of 1.25.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $0.55 EPS for the quarter, beating analysts' consensus estimates of $0.53 by $0.02. The firm had revenue of $350.30 million during the quarter, compared to the consensus estimate of $337.83 million. Magnolia Oil & Gas had a return on equity of 20.74% and a net margin of 27.82%. Magnolia Oil & Gas's revenue for the quarter was up 9.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.46 earnings per share. As a group, equities research analysts forecast that Magnolia Oil & Gas Co. will post 2.1 earnings per share for the current fiscal year.

Magnolia Oil & Gas Announces Dividend

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 paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 2.61%. The ex-dividend date of this dividend is Monday, May 12th. Magnolia Oil & Gas's payout ratio is currently 29.85%.

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.