Brandywine Global Investment Management LLC Acquires 119,240 Shares of Magnolia Oil & Gas Co. (NYSE:MGY)

Brandywine Global Investment Management LLC increased its holdings in Magnolia Oil & Gas Co. (NYSE:MGY) by 25.6% in the 4th quarter, Holdings Channel reports. The fund owned 585,752 shares of the company’s stock after buying an additional 119,240 shares during the quarter. Brandywine Global Investment Management LLC’s holdings in Magnolia Oil & Gas were worth $13,695,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Mather Group LLC. increased its stake in shares of Magnolia Oil & Gas by 100.0% during the fourth quarter. Mather Group LLC. now owns 1,090 shares of the company’s stock valued at $25,000 after purchasing an additional 545 shares in the last quarter. Larson Financial Group LLC grew its stake in shares of Magnolia Oil & Gas by 112.3% in the 4th quarter. Larson Financial Group LLC now owns 1,072 shares of the company’s stock worth $25,000 after buying an additional 567 shares during the last quarter. R Squared Ltd bought a new position in Magnolia Oil & Gas during the 4th quarter valued at approximately $43,000. Avior Wealth Management LLC raised its stake in Magnolia Oil & Gas by 30.0% during the fourth 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 last quarter. Finally, Smartleaf Asset Management LLC raised its stake in Magnolia Oil & Gas by 95.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 3,777 shares of the company’s stock valued at $88,000 after buying an additional 1,844 shares during the last quarter. 94.73% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Magnolia Oil & Gas news, CEO Christopher G. Stavros bought 2,500 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was purchased at an average price of $22.05 per share, for a total transaction of $55,125.00. Following the completion of 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 position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.20% of the company’s stock.

Magnolia Oil & Gas Price Performance

Shares of Magnolia Oil & Gas stock opened at $25.21 on Monday. The stock’s fifty day moving average is $24.08 and its 200 day moving average is $25.09. Magnolia Oil & Gas Co. has a one year low of $21.63 and a one year high of $29.02. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.47 and a current ratio of 1.42. The stock has a market cap of $4.89 billion, a P/E ratio of 13.06, a P/E/G ratio of 3.01 and a beta of 1.90.

Magnolia Oil & Gas (NYSE:MGY) last posted its quarterly earnings data on Tuesday, February 18th. The company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.03. The firm had revenue of $326.61 million for the quarter, compared to analysts’ expectations of $327.40 million. Magnolia Oil & Gas had a return on equity of 20.74% and a net margin of 27.82%. Sell-side 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. Stockholders of record on Friday, February 14th were paid a $0.15 dividend. The ex-dividend date was Friday, February 14th. This is a boost 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 2.38%. Magnolia Oil & Gas’s dividend payout ratio is 31.09%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on MGY shares. Bank of America restated a “neutral” rating and set a $28.00 price target (down from $29.00) on shares of Magnolia Oil & Gas in a report on Monday, January 13th. Johnson Rice cut shares of Magnolia Oil & Gas from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, January 28th. Mizuho lifted their price target 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. Piper Sandler boosted their price objective 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, Williams Trading set a $29.00 target price on shares of Magnolia Oil & Gas in a report on Wednesday, March 5th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $27.77.

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.