Headlands Technologies LLC Takes Position in Magnolia Oil & Gas Co. (NYSE:MGY)

Headlands Technologies LLC bought a new position in shares of 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 6,898 shares of the company’s stock, valued at approximately $161,000.

A number of other hedge funds have also added to or reduced their stakes in MGY. Mather Group LLC. grew its position in shares of Magnolia Oil & Gas by 100.0% during the 4th quarter. Mather Group LLC. now owns 1,090 shares of the company’s stock worth $25,000 after buying an additional 545 shares during the period. Larson Financial Group LLC grew its holdings in Magnolia Oil & Gas by 112.3% in the fourth quarter. Larson Financial Group LLC now owns 1,072 shares of the company’s stock worth $25,000 after purchasing an additional 567 shares during the period. R Squared Ltd bought a new stake in Magnolia Oil & Gas in the fourth quarter valued at $43,000. Avior Wealth Management LLC raised its holdings in shares of 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 purchasing an additional 506 shares during the period. Finally, Smartleaf Asset Management LLC boosted its position in shares of Magnolia Oil & Gas by 95.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 3,777 shares of the company’s stock worth $88,000 after purchasing an additional 1,844 shares in the last quarter. 94.73% of the stock is currently owned by institutional investors.

Insider Activity at Magnolia Oil & Gas

In other Magnolia Oil & Gas news, CEO Christopher G. Stavros acquired 2,500 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were acquired at an average cost of $22.05 per share, with a total value of $55,125.00. Following the completion of the acquisition, the chief executive officer now directly owns 892,372 shares in the company, valued at $19,676,802.60. This trade represents a 0.28 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.20% of the stock is owned by company insiders.

Magnolia Oil & Gas Stock Performance

Shares of Magnolia Oil & Gas stock opened at $21.05 on Friday. The firm has a market capitalization of $4.09 billion, a P/E ratio of 10.90, a price-to-earnings-growth ratio of 3.01 and a beta of 1.57. 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 business’s fifty day simple moving average is $23.90 and its 200 day simple moving average is $25.09. Magnolia Oil & Gas Co. has a 12 month low of $20.76 and a 12 month high of $29.02.

Magnolia Oil & Gas (NYSE:MGY) last issued its quarterly earnings results on Tuesday, February 18th. The company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.03. The company had revenue of $326.61 million for the quarter, compared to the consensus estimate of $327.40 million. Magnolia Oil & Gas had a net margin of 27.82% and a return on equity of 20.74%. As a group, 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 declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were paid a dividend of $0.15 per share. The ex-dividend date was Friday, February 14th. This represents a $0.60 annualized dividend and a dividend yield of 2.85%. This is a positive change from Magnolia Oil & Gas’s previous quarterly dividend of $0.13. Magnolia Oil & Gas’s dividend payout ratio (DPR) is presently 31.09%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on MGY. Truist Financial upped their price target on Magnolia Oil & Gas from $33.00 to $34.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Williams Trading set a $29.00 target price on Magnolia Oil & Gas in a report on Wednesday, March 5th. Johnson Rice downgraded shares of Magnolia Oil & Gas from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, January 28th. Piper Sandler upped their price objective on shares of Magnolia Oil & Gas from $24.00 to $26.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Finally, The Goldman Sachs Group cut shares of Magnolia Oil & Gas from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $27.00 to $26.00 in a report on Friday, January 31st. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Magnolia Oil & Gas presently has an average rating of “Hold” and an average price target of $27.77.

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.