Renaissance Technologies LLC Has $12.66 Million Holdings in Magnolia Oil & Gas Co. (NYSE:MGY)

Renaissance Technologies LLC boosted its position in Magnolia Oil & Gas Co. (NYSE:MGY - Free Report) by 910.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 541,400 shares of the company's stock after purchasing an additional 487,820 shares during the period. Renaissance Technologies LLC owned approximately 0.28% of Magnolia Oil & Gas worth $12,658,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. FMR LLC grew its stake in shares of Magnolia Oil & Gas by 174.9% in the 3rd quarter. FMR LLC now owns 34,851 shares of the company's stock worth $851,000 after purchasing an additional 22,171 shares during the last quarter. HighTower Advisors LLC bought a new stake in Magnolia Oil & Gas during the third quarter worth approximately $353,000. MML Investors Services LLC increased its holdings in shares of Magnolia Oil & Gas by 13.0% in the third quarter. MML Investors Services LLC now owns 9,522 shares of the company's stock valued at $233,000 after buying an additional 1,096 shares in the last quarter. Barclays PLC boosted its stake in shares of Magnolia Oil & Gas by 62.5% during the 3rd quarter. Barclays PLC now owns 1,653,736 shares of the company's stock worth $40,383,000 after acquiring an additional 636,049 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Magnolia Oil & Gas by 2.9% in the third quarter. Geode Capital Management LLC now owns 4,107,769 shares of the company's stock worth $100,332,000 after buying an additional 116,431 shares during the period. 94.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Magnolia Oil & Gas news, CEO Christopher G. Stavros bought 2,500 shares of Magnolia Oil & Gas stock in a transaction on Monday, March 3rd. The shares were purchased 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 in the company, valued at approximately $19,676,802.60. The trade was a 0.28 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 1.20% of the company's stock.

Magnolia Oil & Gas Price Performance

MGY stock traded down $0.67 during midday trading on Monday, reaching $20.42. 147,357 shares of the company's stock traded hands, compared to its average volume of 2,281,733. The company has a 50-day simple moving average of $23.11 and a two-hundred day simple moving average of $24.71. 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 company has a market cap of $3.96 billion, a price-to-earnings ratio of 10.58, a PEG ratio of 3.01 and a beta of 1.57. Magnolia Oil & Gas Co. has a 1-year low of $19.09 and a 1-year high of $29.02.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last issued its quarterly earnings data on Tuesday, February 18th. The company reported $0.49 EPS for the quarter, topping analysts' consensus estimates 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 firm had revenue of $326.61 million for the quarter, compared to analyst estimates of $327.40 million. On average, analysts anticipate that Magnolia Oil & Gas Co. will post 2.1 earnings per share for the current year.

Magnolia Oil & Gas Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 2.94%. This is a positive change from Magnolia Oil & Gas's previous quarterly dividend of $0.13. The ex-dividend date of this dividend was Friday, February 14th. Magnolia Oil & Gas's dividend payout ratio (DPR) is presently 31.09%.

Analyst Ratings Changes

Several equities analysts have weighed in on MGY shares. Bank of America reiterated a "neutral" rating and set a $28.00 price objective (down from $29.00) on shares of Magnolia Oil & Gas in a research report on Monday, January 13th. Williams Trading set a $29.00 target price on Magnolia Oil & Gas in a report on Wednesday, March 5th. Citigroup dropped 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 note on Tuesday, April 8th. Piper Sandler boosted their price target on shares of Magnolia Oil & Gas from $24.00 to $26.00 and gave the company a "neutral" rating in a report on Wednesday, January 29th. Finally, The Goldman Sachs Group lowered Magnolia Oil & Gas from a "buy" rating to a "neutral" rating and cut their price objective for the stock from $27.00 to $26.00 in a report on Friday, January 31st. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $27.54.

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.