Bridgefront Capital LLC Invests $342,000 in Magnolia Oil & Gas Co. (NYSE:MGY)

Bridgefront Capital LLC acquired a new stake in Magnolia Oil & Gas Co. (NYSE:MGY) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 14,625 shares of the company’s stock, valued at approximately $342,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. First Trust Advisors LP grew its position in Magnolia Oil & Gas by 24.6% in the 4th quarter. First Trust Advisors LP now owns 15,410,496 shares of the company’s stock valued at $360,297,000 after acquiring an additional 3,038,709 shares in the last quarter. Barclays PLC grew its holdings in shares of Magnolia Oil & Gas by 62.5% in the third quarter. Barclays PLC now owns 1,653,736 shares of the company’s stock valued at $40,383,000 after purchasing an additional 636,049 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Magnolia Oil & Gas during the 4th quarter worth approximately $13,634,000. Renaissance Technologies LLC lifted its holdings in Magnolia Oil & Gas by 910.5% during the 4th quarter. Renaissance Technologies LLC now owns 541,400 shares of the company’s stock worth $12,658,000 after buying an additional 487,820 shares in the last quarter. Finally, Wasatch Advisors LP boosted its position in Magnolia Oil & Gas by 21.2% in the 4th quarter. Wasatch Advisors LP now owns 2,773,828 shares of the company’s stock valued at $64,852,000 after buying an additional 484,683 shares during the period. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Magnolia Oil & Gas Price Performance

Shares of NYSE MGY opened at $20.70 on Thursday. 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 stock has a market cap of $4.02 billion, a P/E ratio of 10.73, a P/E/G ratio of 3.01 and a beta of 1.25. The stock has a 50 day moving average of $22.40 and a two-hundred day moving average of $24.24. Magnolia Oil & Gas Co. has a twelve month low of $19.09 and a twelve month high of $29.02.

Magnolia Oil & Gas (NYSE:MGY) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.02. The firm had revenue of $350.30 million during the quarter, compared to analysts’ expectations of $337.83 million. Magnolia Oil & Gas had a net margin of 27.82% and a return on equity of 20.74%. Magnolia Oil & Gas’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.46 EPS. On average, research analysts forecast that Magnolia Oil & Gas Co. will post 2.1 earnings per share for the current year.

Magnolia Oil & Gas Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Monday, May 12th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 2.90%. The ex-dividend date of this dividend is Monday, May 12th. Magnolia Oil & Gas’s dividend payout ratio (DPR) is presently 29.85%.

Insiders Place Their Bets

In other Magnolia Oil & Gas news, CEO Christopher G. Stavros acquired 2,500 shares of the stock in a transaction on Monday, March 3rd. The shares were bought at an average price of $22.05 per share, with a total value of $55,125.00. Following the acquisition, 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 1.20% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Citigroup reduced their price objective on Magnolia Oil & Gas from $22.00 to $19.00 and set a “sell” rating on the stock in a research note on Tuesday, April 8th. The Goldman Sachs Group lowered Magnolia Oil & Gas from a “buy” rating to a “neutral” rating and reduced their price target for the company from $27.00 to $26.00 in a research report on Friday, January 31st. Piper Sandler lowered their price objective on Magnolia Oil & Gas from $26.00 to $25.00 and set a “neutral” rating for the company in a research report on Tuesday, April 22nd. Truist Financial raised their target price 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, JPMorgan Chase & Co. lowered their price target on shares of Magnolia Oil & Gas from $28.00 to $24.00 and set a “neutral” rating for the company in a report on Thursday, March 13th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $27.21.

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.