Magnolia Oil & Gas Co. (NYSE:MGY) Shares Acquired by Xponance Inc.

Xponance Inc. grew its position in shares of Magnolia Oil & Gas Co. (NYSE:MGY) by 9.1% in the 4th quarter, Holdings Channel.com reports. The firm owned 12,299 shares of the company’s stock after buying an additional 1,022 shares during the period. Xponance Inc.’s holdings in Magnolia Oil & Gas were worth $288,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. Soros Fund Management LLC purchased a new position in Magnolia Oil & Gas in the third quarter valued at $18,120,000. Barclays PLC increased its stake in shares of Magnolia Oil & Gas by 62.5% in the 3rd quarter. Barclays PLC now owns 1,653,736 shares of the company’s stock valued at $40,383,000 after purchasing an additional 636,049 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Magnolia Oil & Gas in the 4th quarter worth about $13,634,000. State Street Corp boosted its position in Magnolia Oil & Gas by 4.2% during the third quarter. State Street Corp now owns 10,700,257 shares of the company’s stock worth $261,300,000 after purchasing an additional 435,326 shares in the last quarter. Finally, Centiva Capital LP grew its holdings in Magnolia Oil & Gas by 767.6% in the third quarter. Centiva Capital LP now owns 487,148 shares of the company’s stock valued at $11,896,000 after purchasing an additional 430,996 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 acquired 2,500 shares of the business’s stock in a transaction that occurred on 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 transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on MGY shares. Piper Sandler upped their target price on Magnolia Oil & Gas from $24.00 to $26.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. Bank of America reaffirmed a “neutral” rating and set a $28.00 price objective (down from $29.00) on shares of Magnolia Oil & Gas in a report on Monday, January 13th. Mizuho boosted their target price on shares of Magnolia Oil & Gas from $27.00 to $28.00 and gave the stock a “neutral” rating in a research note on Monday, December 16th. Williams Trading set a $29.00 price target on shares of Magnolia Oil & Gas in a research note on Wednesday, March 5th. Finally, JPMorgan Chase & Co. cut their price objective on Magnolia Oil & Gas from $28.00 to $24.00 and set a “neutral” rating for the company in a research note on Thursday, March 13th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $27.77.

Magnolia Oil & Gas Stock Down 0.9 %

Shares of NYSE:MGY opened at $25.37 on Friday. Magnolia Oil & Gas Co. has a 52-week low of $21.63 and a 52-week high of $29.02. The stock has a market cap of $4.93 billion, a P/E ratio of 13.15, a PEG ratio of 3.01 and a beta of 1.90. The business has a fifty day moving average of $24.10 and a two-hundred day moving average of $25.05. 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 (NYSE:MGY) last announced its quarterly earnings results 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 firm had revenue of $326.61 million for the quarter, compared to analysts’ expectations of $327.40 million. On average, research analysts expect 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 declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were issued a dividend of $0.15 per share. The ex-dividend date was Friday, February 14th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.36%. This is an increase from Magnolia Oil & Gas’s previous quarterly dividend of $0.13. Magnolia Oil & Gas’s dividend payout ratio (DPR) is currently 31.09%.

Magnolia Oil & Gas Company 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.