Elo Mutual Pension Insurance Co Invests $457,000 in Magnolia Oil & Gas Co. (NYSE:MGY)

Elo Mutual Pension Insurance Co acquired a new stake in shares of Magnolia Oil & Gas Co. (NYSE:MGY) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 19,559 shares of the company’s stock, valued at approximately $457,000.

A number of other hedge funds also recently bought and sold shares of the company. Mather Group LLC. raised 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 worth $25,000 after acquiring an additional 545 shares in the last quarter. Larson Financial Group LLC grew its holdings 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 valued at $25,000 after purchasing an additional 567 shares during the last quarter. R Squared Ltd purchased a new position in Magnolia Oil & Gas in the 4th quarter worth $43,000. Avior Wealth Management LLC lifted its stake in Magnolia Oil & Gas by 30.0% in the fourth quarter. Avior Wealth Management LLC now owns 2,194 shares of the company’s stock worth $51,000 after purchasing an additional 506 shares during the last quarter. Finally, Smartleaf Asset Management LLC boosted its position 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 period. Institutional investors own 94.73% of the company’s stock.

Insider Buying and Selling

In other Magnolia Oil & Gas news, CEO Christopher G. Stavros bought 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, for a total transaction of $55,125.00. Following the completion of the acquisition, the chief executive officer now owns 892,372 shares of the company’s stock, valued at approximately $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 can be accessed through this link. 1.20% of the stock is currently owned by insiders.

Magnolia Oil & Gas Stock Down 0.5 %

MGY stock opened at $25.21 on Monday. Magnolia Oil & Gas Co. has a fifty-two week low of $21.63 and a fifty-two week high of $29.02. The company has a market capitalization of $4.89 billion, a price-to-earnings ratio of 13.06, a price-to-earnings-growth ratio of 3.01 and a beta of 1.90. The business’s 50 day moving average price is $24.08 and its two-hundred day moving average price is $25.09. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.47 and a current ratio of 1.42.

Magnolia Oil & Gas (NYSE:MGY) last posted its quarterly earnings data on Tuesday, February 18th. The company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $327.40 million. As a group, analysts forecast 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 disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were paid a dividend of $0.15 per share. The ex-dividend date was Friday, February 14th. This represents a $0.60 annualized dividend and a yield of 2.38%. This is a positive change from Magnolia Oil & Gas’s previous quarterly dividend of $0.13. Magnolia Oil & Gas’s payout ratio is presently 31.09%.

Analysts Set New Price Targets

MGY has been the subject of a number of recent research reports. Johnson Rice lowered Magnolia Oil & Gas from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, January 28th. Bank of America reiterated a “neutral” rating and issued a $28.00 price objective (down previously from $29.00) on shares of Magnolia Oil & Gas in a research report on Monday, January 13th. Piper Sandler raised their target price on shares of Magnolia Oil & Gas from $24.00 to $26.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Truist Financial upped their price target on shares of Magnolia Oil & Gas from $33.00 to $34.00 and gave the company a “buy” rating in a report on Monday, January 13th. Finally, Williams Trading set a $29.00 price target on shares of Magnolia Oil & Gas in a report on Wednesday, March 5th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Magnolia Oil & Gas presently has a consensus rating of “Hold” and an average price target of $27.77.

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.