Bryce Point Capital LLC Takes $1.18 Million Position in Magnolia Oil & Gas Co. (NYSE:MGY)

Bryce Point Capital LLC acquired a new position in Magnolia Oil & Gas Co. (NYSE:MGY) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 50,595 shares of the company’s stock, valued at approximately $1,183,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. FMR LLC lifted its position in shares of Magnolia Oil & Gas by 174.9% in the 3rd quarter. FMR LLC now owns 34,851 shares of the company’s stock worth $851,000 after purchasing an additional 22,171 shares during the period. BNP Paribas Financial Markets lifted its holdings in Magnolia Oil & Gas by 27.2% during the third quarter. BNP Paribas Financial Markets now owns 128,492 shares of the company’s stock worth $3,138,000 after buying an additional 27,467 shares during the period. Townsquare Capital LLC purchased a new stake in Magnolia Oil & Gas during the third quarter worth $237,000. Captrust Financial Advisors boosted its position in Magnolia Oil & Gas by 9.3% during the 3rd quarter. Captrust Financial Advisors now owns 48,731 shares of the company’s stock valued at $1,190,000 after acquiring an additional 4,156 shares in the last quarter. Finally, Verition Fund Management LLC increased its holdings in shares of Magnolia Oil & Gas by 11.5% in the 3rd quarter. Verition Fund Management LLC now owns 84,864 shares of the company’s stock valued at $2,072,000 after acquiring an additional 8,724 shares during the period. 94.73% of the stock is currently owned by institutional investors.

Insider Transactions at Magnolia Oil & Gas

In related news, CEO Christopher G. Stavros bought 2,500 shares of the stock in a transaction dated Monday, March 3rd. The shares were purchased at an average price of $22.05 per share, for a total transaction of $55,125.00. Following the completion of the purchase, the chief executive officer now directly owns 892,372 shares of the company’s stock, valued at $19,676,802.60. This represents a 0.28 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on MGY shares. JPMorgan Chase & Co. dropped their price objective on 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. Williams Trading set a $29.00 price target on shares of Magnolia Oil & Gas in a report on Wednesday, March 5th. Johnson Rice lowered shares of Magnolia Oil & Gas from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, January 28th. Piper Sandler raised their target price on shares of Magnolia Oil & Gas from $24.00 to $26.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. Finally, Bank of America reaffirmed a “neutral” rating and set a $28.00 price target (down from $29.00) on shares of Magnolia Oil & Gas in a research report on Monday, January 13th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $27.77.

Magnolia Oil & Gas Stock Performance

Shares of MGY stock opened at $25.74 on Thursday. The business has a fifty day moving average of $24.03 and a 200 day moving average of $25.12. Magnolia Oil & Gas Co. has a 1 year low of $21.63 and a 1 year high of $29.02. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.42 and a quick ratio of 1.47. The firm has a market capitalization of $5.00 billion, a price-to-earnings ratio of 13.34, a price-to-earnings-growth ratio of 3.01 and a beta of 1.57.

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, topping the consensus estimate of $0.46 by $0.03. The firm had revenue of $326.61 million during 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%. As a group, 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 firm also recently disclosed 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 2.33%. This is a boost from Magnolia Oil & Gas’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend was Friday, February 14th. Magnolia Oil & Gas’s payout ratio is presently 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.