New Age Alpha Advisors LLC Takes $258,000 Position in Magnolia Oil & Gas Co. (NYSE:MGY)

New Age Alpha Advisors LLC bought a new position in Magnolia Oil & Gas Co. (NYSE:MGY) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 11,022 shares of the company’s stock, valued at approximately $258,000.

A number of other institutional investors and hedge funds have also modified their holdings of MGY. FMR LLC boosted its position in Magnolia Oil & Gas by 174.9% during the 3rd quarter. FMR LLC now owns 34,851 shares of the company’s stock worth $851,000 after acquiring an additional 22,171 shares during the period. HighTower Advisors LLC purchased a new stake in shares of Magnolia Oil & Gas in the third quarter worth approximately $353,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Magnolia Oil & Gas by 4.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,076,541 shares of the company’s stock worth $48,550,000 after purchasing an additional 85,524 shares during the period. Ashton Thomas Private Wealth LLC purchased a new position in Magnolia Oil & Gas during the fourth quarter valued at approximately $590,000. Finally, Proficio Capital Partners LLC acquired a new position in Magnolia Oil & Gas in the 4th quarter valued at approximately $292,000. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on MGY shares. JPMorgan Chase & Co. lowered their price target on shares of Magnolia Oil & Gas from $28.00 to $24.00 and set a “neutral” rating on the stock in a report on Thursday, March 13th. Williams Trading set a $29.00 target price on Magnolia Oil & Gas in a research report on Wednesday, March 5th. Mizuho lifted their price target on Magnolia Oil & Gas from $27.00 to $28.00 and gave the company a “neutral” rating in a report on Monday, December 16th. Piper Sandler increased their price objective on Magnolia Oil & Gas from $24.00 to $26.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Finally, Johnson Rice lowered shares of Magnolia Oil & Gas from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, January 28th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $27.77.

Insider Buying and Selling at Magnolia Oil & Gas

In other news, CEO Christopher G. Stavros acquired 2,500 shares of Magnolia Oil & Gas stock in a transaction on Monday, March 3rd. The stock was bought at an average price of $22.05 per share, for a total transaction of $55,125.00. Following the transaction, the chief executive officer now owns 892,372 shares of the company’s stock, valued at $19,676,802.60. The trade was a 0.28 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.20% of the company’s stock.

Magnolia Oil & Gas Stock Up 1.0 %

MGY stock opened at $25.52 on Wednesday. The stock has a market capitalization of $4.96 billion, a price-to-earnings ratio of 13.22, a price-to-earnings-growth ratio of 3.01 and a beta of 1.90. The company has a 50-day moving average of $24.04 and a two-hundred day moving average of $25.11. Magnolia Oil & Gas Co. has a 52-week low of $21.63 and a 52-week 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.

Magnolia Oil & Gas (NYSE:MGY) last announced its earnings results on Tuesday, February 18th. The company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.03. The firm had revenue of $326.61 million during the quarter, compared to the consensus estimate 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, equities research analysts anticipate that Magnolia Oil & Gas Co. will post 2.1 EPS for the current year.

Magnolia Oil & Gas Increases Dividend

The business also recently announced 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. This is a boost from Magnolia Oil & Gas’s previous quarterly dividend of $0.13. This represents a $0.60 annualized dividend and a yield of 2.35%. The ex-dividend date was Friday, February 14th. Magnolia Oil & Gas’s dividend 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.