Bessemer Group Inc. Has $24.45 Million Stock Position in Magnolia Oil & Gas Corp $MGY

Bessemer Group Inc. raised its position in shares of Magnolia Oil & Gas Corp (NYSE:MGY) by 22.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,116,993 shares of the company’s stock after purchasing an additional 204,467 shares during the period. Bessemer Group Inc.’s holdings in Magnolia Oil & Gas were worth $24,452,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Oak Family Advisors LLC grew its holdings in shares of Magnolia Oil & Gas by 0.9% in the fourth quarter. Oak Family Advisors LLC now owns 47,620 shares of the company’s stock valued at $1,042,000 after acquiring an additional 410 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Magnolia Oil & Gas by 8.0% in the fourth quarter. GAMMA Investing LLC now owns 6,130 shares of the company’s stock valued at $134,000 after acquiring an additional 453 shares in the last quarter. Coldstream Capital Management Inc. grew its holdings in shares of Magnolia Oil & Gas by 3.1% in the third quarter. Coldstream Capital Management Inc. now owns 15,937 shares of the company’s stock valued at $380,000 after acquiring an additional 482 shares in the last quarter. Amalgamated Bank grew its holdings in shares of Magnolia Oil & Gas by 1.0% in the third quarter. Amalgamated Bank now owns 53,307 shares of the company’s stock valued at $1,272,000 after acquiring an additional 552 shares in the last quarter. Finally, Lazard Asset Management LLC grew its holdings in shares of Magnolia Oil & Gas by 0.4% in the second quarter. Lazard Asset Management LLC now owns 167,071 shares of the company’s stock valued at $3,755,000 after acquiring an additional 671 shares in the last quarter. 94.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Edward P. Djerejian sold 18,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $28.98, for a total value of $521,640.00. Following the completion of the transaction, the director directly owned 110,425 shares of the company’s stock, valued at approximately $3,200,116.50. This trade represents a 14.02% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Dan F. Smith sold 18,000 shares of the firm’s stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $29.01, for a total transaction of $522,180.00. Following the completion of the transaction, the director directly owned 119,204 shares of the company’s stock, valued at approximately $3,458,108.04. This trade represents a 13.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 338,954 shares of company stock worth $9,911,733 in the last 90 days. 0.92% of the stock is currently owned by company insiders.

Magnolia Oil & Gas Stock Up 2.6%

MGY opened at $29.55 on Friday. The company has a 50 day moving average of $29.73 and a 200 day moving average of $25.84. The company has a market cap of $5.47 billion, a PE ratio of 17.18, a price-to-earnings-growth ratio of 1.77 and a beta of 0.75. Magnolia Oil & Gas Corp has a 12 month low of $21.07 and a 12 month high of $32.76. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.19.

Magnolia Oil & Gas (NYSE:MGY) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.51 by $0.03. The company had revenue of $358.51 million during the quarter, compared to the consensus estimate of $349.89 million. Magnolia Oil & Gas had a net margin of 24.40% and a return on equity of 16.28%. Magnolia Oil & Gas’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period last year, the firm earned $0.54 EPS. On average, sell-side analysts expect that Magnolia Oil & Gas Corp will post 2.91 EPS for the current year.

Magnolia Oil & Gas Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Tuesday, May 12th will be issued a $0.165 dividend. The ex-dividend date of this dividend is Tuesday, May 12th. This represents a $0.66 annualized dividend and a yield of 2.2%. Magnolia Oil & Gas’s dividend payout ratio (DPR) is 38.37%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. Susquehanna reduced their target price on shares of Magnolia Oil & Gas from $30.00 to $28.00 and set a “positive” rating for the company in a research report on Monday, January 26th. Siebert Williams Shank downgraded shares of Magnolia Oil & Gas from a “buy” rating to a “hold” rating in a research report on Friday, March 6th. KeyCorp increased their target price on shares of Magnolia Oil & Gas from $30.00 to $38.00 and gave the company an “overweight” rating in a research report on Thursday, April 2nd. Benchmark reissued a “hold” rating on shares of Magnolia Oil & Gas in a research report on Wednesday, January 21st. Finally, Wells Fargo & Company reduced their target price on shares of Magnolia Oil & Gas from $32.00 to $31.00 and set an “equal weight” rating for the company in a research report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.00.

About Magnolia Oil & Gas

Magnolia Oil & Gas Corp (NYSE: MGY) is an independent exploration and production company focused on the acquisition, development and optimization of onshore oil and gas assets in South Texas. Headquartered in Houston, the company concentrates its efforts on the Eagle Ford Shale, where it holds significant working interests in key producing counties.

The company’s core operations center on horizontal drilling and multi-stage completions designed to extract light crude oil, natural gas and natural gas liquids (NGLs).