Magnetar Financial LLC Acquires 165,073 Shares of Magnolia Oil & Gas Co. (NYSE:MGY)

Magnetar Financial LLC grew its holdings in Magnolia Oil & Gas Co. (NYSE:MGY) by 857.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 184,323 shares of the company’s stock after purchasing an additional 165,073 shares during the quarter. Magnetar Financial LLC owned approximately 0.09% of Magnolia Oil & Gas worth $4,309,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. First Horizon Advisors Inc. raised its stake in shares of Magnolia Oil & Gas by 64.7% during the 3rd quarter. First Horizon Advisors Inc. now owns 1,008 shares of the company’s stock worth $25,000 after acquiring an additional 396 shares in the last quarter. Mather Group LLC. raised its stake in shares of Magnolia Oil & Gas by 100.0% during the 4th quarter. Mather Group LLC. now owns 1,090 shares of the company’s stock worth $25,000 after acquiring an additional 545 shares in the last quarter. Larson Financial Group LLC raised its stake in shares of Magnolia Oil & Gas by 112.3% during the 4th quarter. Larson Financial Group LLC now owns 1,072 shares of the company’s stock worth $25,000 after acquiring an additional 567 shares in the last quarter. R Squared Ltd bought a new position in shares of Magnolia Oil & Gas during the 4th quarter worth approximately $43,000. Finally, Avior Wealth Management LLC raised its stake in shares of Magnolia Oil & Gas by 30.0% during the 4th quarter. Avior Wealth Management LLC now owns 2,194 shares of the company’s stock worth $51,000 after acquiring an additional 506 shares in the last quarter. Institutional investors own 94.73% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on MGY. Bank of America reiterated a “neutral” rating and set a $28.00 price objective (down previously from $29.00) on shares of Magnolia Oil & Gas in a research note on Monday, January 13th. Johnson Rice downgraded shares of Magnolia Oil & Gas from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, January 28th. Piper Sandler boosted their target price on shares of Magnolia Oil & Gas from $24.00 to $26.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. JPMorgan Chase & Co. dropped their target price on shares of Magnolia Oil & Gas from $28.00 to $24.00 and set a “neutral” rating on the stock in a research report on Thursday, March 13th. Finally, 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 report on Monday, December 16th. 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.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $27.77.

Insiders Place Their Bets

In other Magnolia Oil & Gas news, CEO Christopher G. Stavros purchased 2,500 shares of Magnolia Oil & Gas stock in a transaction dated Monday, March 3rd. The shares were acquired at an average price of $22.05 per share, with a total value 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.40% of the stock is currently owned by insiders.

Magnolia Oil & Gas Price Performance

Shares of NYSE MGY opened at $25.36 on Friday. The firm has a 50-day simple moving average of $24.15 and a 200-day simple moving average of $25.02. The stock has a market capitalization of $4.92 billion, a price-to-earnings ratio of 13.14, a price-to-earnings-growth ratio of 3.01 and a beta of 1.90. 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 52 week low of $21.63 and a 52 week high of $29.02.

Magnolia Oil & Gas (NYSE:MGY) last announced its quarterly earnings data on Tuesday, February 18th. The company reported $0.49 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analyst estimates of $327.40 million. On average, equities analysts predict that Magnolia Oil & Gas Co. will post 2.1 earnings per share for the current fiscal year.

Magnolia Oil & Gas Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 2.37%. The ex-dividend date was Friday, February 14th. This is a positive change from Magnolia Oil & Gas’s previous quarterly dividend of $0.13. Magnolia Oil & Gas’s dividend payout ratio (DPR) is 31.09%.

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.