Fox Run Management L.L.C. Purchases New Position in Magnolia Oil & Gas Co. (NYSE:MGY)

Fox Run Management L.L.C. acquired a new stake in Magnolia Oil & Gas Co. (NYSE:MGY) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 26,165 shares of the company’s stock, valued at approximately $612,000.

Other hedge funds have also recently added to or reduced their stakes in the company. First Horizon Advisors Inc. lifted its stake in shares of Magnolia Oil & Gas by 64.7% in the 3rd quarter. First Horizon Advisors Inc. now owns 1,008 shares of the company’s stock valued at $25,000 after acquiring an additional 396 shares during the last quarter. Mather Group LLC. raised its position in Magnolia Oil & Gas by 100.0% in 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 during the last quarter. Larson Financial Group LLC boosted its stake in shares of Magnolia Oil & Gas by 112.3% during the fourth quarter. Larson Financial Group LLC now owns 1,072 shares of the company’s stock valued at $25,000 after purchasing an additional 567 shares in the last quarter. R Squared Ltd bought a new stake in shares of Magnolia Oil & Gas during the fourth quarter worth about $43,000. Finally, Avior Wealth Management LLC increased its stake in shares of Magnolia Oil & Gas by 30.0% in 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 period. Institutional investors and hedge funds own 94.73% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Bank of America reiterated a “neutral” rating and set a $28.00 target price (down from $29.00) on shares of Magnolia Oil & Gas in a research report on Monday, January 13th. Truist Financial increased their price objective on Magnolia Oil & Gas from $33.00 to $34.00 and gave the company a “buy” rating in a report on Monday, January 13th. The Goldman Sachs Group downgraded Magnolia Oil & Gas from a “buy” rating to a “neutral” rating and cut their target price for the stock from $27.00 to $26.00 in a report on Friday, January 31st. JPMorgan Chase & Co. lowered their price objective on Magnolia Oil & Gas from $28.00 to $24.00 and set a “neutral” rating for the company in a research report on Thursday, March 13th. Finally, Mizuho increased their target price on shares of Magnolia Oil & Gas from $27.00 to $28.00 and gave the company a “neutral” rating in a research report on Monday, December 16th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $27.77.

Insiders Place Their Bets

In related news, CEO Christopher G. Stavros acquired 2,500 shares of the stock in a transaction dated 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 completion of the purchase, the chief executive officer now directly owns 892,372 shares in the company, valued at $19,676,802.60. This trade represents a 0.28 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.20% of the company’s stock.

Magnolia Oil & Gas Price Performance

Shares of NYSE MGY opened at $25.16 on Tuesday. The company has a current ratio of 1.42, a quick ratio of 1.47 and a debt-to-equity ratio of 0.20. The firm’s 50-day moving average price is $24.15 and its 200-day moving average price is $25.03. The firm has a market capitalization of $4.88 billion, a P/E ratio of 13.03, a P/E/G ratio of 3.01 and a beta of 1.90. Magnolia Oil & Gas Co. has a 1-year low of $21.63 and a 1-year high of $29.02.

Magnolia Oil & Gas (NYSE:MGY) last announced its quarterly earnings results on Tuesday, February 18th. The company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.03. Magnolia Oil & Gas had a return on equity of 20.74% and a net margin of 27.82%. The business had revenue of $326.61 million for the quarter, compared to analyst estimates of $327.40 million. Equities research analysts anticipate that Magnolia Oil & Gas Co. will post 2.1 earnings per share for the current fiscal year.

Magnolia Oil & Gas Increases Dividend

The firm also recently declared 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 dividend on an annualized basis and a yield of 2.39%. 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 payout ratio is 31.09%.

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.