Magnolia Oil & Gas Co. (NYSE:MGY) Shares Purchased by Ensign Peak Advisors Inc

Ensign Peak Advisors Inc boosted its stake in shares of Magnolia Oil & Gas Co. (NYSE:MGY) by 197.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 214,106 shares of the company’s stock after acquiring an additional 142,067 shares during the quarter. Ensign Peak Advisors Inc owned 0.11% of Magnolia Oil & Gas worth $5,006,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Albert D Mason Inc. raised its position in Magnolia Oil & Gas by 0.7% during the fourth quarter. Albert D Mason Inc. now owns 61,497 shares of the company’s stock valued at $1,438,000 after acquiring an additional 411 shares in the last quarter. Isthmus Partners LLC raised its position in Magnolia Oil & Gas by 5.2% during the fourth quarter. Isthmus Partners LLC now owns 9,320 shares of the company’s stock valued at $218,000 after acquiring an additional 460 shares in the last quarter. OneDigital Investment Advisors LLC raised its position in Magnolia Oil & Gas by 3.0% during the fourth quarter. OneDigital Investment Advisors LLC now owns 15,768 shares of the company’s stock valued at $369,000 after acquiring an additional 464 shares in the last quarter. Avior Wealth Management LLC raised its position in Magnolia Oil & Gas by 30.0% during the fourth quarter. Avior Wealth Management LLC now owns 2,194 shares of the company’s stock valued at $51,000 after acquiring an additional 506 shares in the last quarter. Finally, Mather Group LLC. raised its position in Magnolia Oil & Gas by 100.0% during the fourth quarter. Mather Group LLC. now owns 1,090 shares of the company’s stock valued at $25,000 after acquiring an additional 545 shares in the last quarter. 94.73% of the stock is currently owned by hedge funds and other institutional investors.

Magnolia Oil & Gas Stock Down 0.6%

Shares of MGY opened at $23.17 on Thursday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.47 and a current ratio of 1.42. The stock has a 50 day moving average price of $22.40 and a 200 day moving average price of $24.13. Magnolia Oil & Gas Co. has a one year low of $19.09 and a one year high of $29.02. The stock has a market capitalization of $4.50 billion, a price-to-earnings ratio of 12.01, a PEG ratio of 3.01 and a beta of 1.25.

Magnolia Oil & Gas (NYSE:MGY) last released its 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 business had revenue of $350.30 million for the quarter, compared to analyst estimates of $337.83 million. Magnolia Oil & Gas had a net margin of 27.82% and a return on equity of 20.74%. The business’s revenue was up 9.7% on a year-over-year basis. During the same period last year, the company posted $0.46 EPS. Equities research analysts forecast that Magnolia Oil & Gas Co. will post 2.1 earnings per share for the current fiscal year.

Magnolia Oil & Gas Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Monday, May 12th will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 2.59%. The ex-dividend date of this dividend is Monday, May 12th. Magnolia Oil & Gas’s dividend payout ratio (DPR) is currently 29.85%.

Insider Activity at Magnolia Oil & Gas

In other news, CEO Christopher G. Stavros acquired 2,500 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was purchased at an average price of $22.05 per share, with a total value 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 $19,676,802.60. This trade represents a 0.28% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.20% of the stock is currently owned by insiders.

Analysts Set New Price Targets

MGY has been the subject of several recent research reports. Piper Sandler reduced their price target on Magnolia Oil & Gas from $25.00 to $24.00 and set a “neutral” rating for the company in a research report on Tuesday. UBS Group began coverage on Magnolia Oil & Gas in a research report on Tuesday, April 22nd. They issued a “buy” rating and a $26.00 price objective for the company. Citigroup cut their price objective on Magnolia Oil & Gas from $22.00 to $19.00 and set a “sell” rating for the company in a research report on Tuesday, April 8th. JPMorgan Chase & Co. cut 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, Johnson Rice cut Magnolia Oil & Gas from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, January 28th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Magnolia Oil & Gas presently has a consensus rating of “Hold” and a consensus price target of $27.14.

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.