Mariner LLC Grows Holdings in Magnolia Oil & Gas Co. (NYSE:MGY)

Mariner LLC increased its stake in Magnolia Oil & Gas Co. (NYSE:MGY) by 1.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 43,229 shares of the company’s stock after buying an additional 762 shares during the period. Mariner LLC’s holdings in Magnolia Oil & Gas were worth $1,011,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of Magnolia Oil & Gas by 2.2% during the 4th quarter. Vanguard Group Inc. now owns 20,938,200 shares of the company’s stock valued at $489,535,000 after acquiring an additional 452,836 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Magnolia Oil & Gas by 0.5% during the fourth quarter. Wellington Management Group LLP now owns 5,020,646 shares of the company’s stock worth $117,383,000 after purchasing an additional 26,943 shares during the period. Geode Capital Management LLC lifted its position in shares of Magnolia Oil & Gas by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 4,136,456 shares of the company’s stock worth $96,733,000 after buying an additional 28,687 shares during the last quarter. Boston Trust Walden Corp boosted its holdings in shares of Magnolia Oil & Gas by 9.5% in the 4th quarter. Boston Trust Walden Corp now owns 3,090,587 shares of the company’s stock valued at $72,258,000 after buying an additional 267,461 shares during the period. Finally, Principal Financial Group Inc. grew its position in shares of Magnolia Oil & Gas by 14.5% during the 4th quarter. Principal Financial Group Inc. now owns 2,308,825 shares of the company’s stock valued at $53,983,000 after buying an additional 292,865 shares during the last quarter. 94.73% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Magnolia Oil & Gas

In related news, CEO Christopher G. Stavros bought 2,500 shares of Magnolia Oil & Gas stock in a transaction on Monday, March 3rd. The shares were purchased at an average price of $22.05 per share, for a total transaction of $55,125.00. Following the completion of the acquisition, the chief executive officer now owns 892,372 shares in the company, valued at approximately $19,676,802.60. This represents a 0.28 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.20% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

MGY has been the topic of several recent research reports. The Goldman Sachs Group downgraded shares of Magnolia Oil & Gas from a “buy” rating to a “neutral” rating and cut their price objective for the company from $27.00 to $26.00 in a research report on Friday, January 31st. UBS Group assumed coverage on Magnolia Oil & Gas in a research report on Tuesday, April 22nd. They set a “buy” rating and a $26.00 price objective for the company. Truist Financial raised their target price on Magnolia Oil & Gas from $33.00 to $34.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Susquehanna reduced their price target on Magnolia Oil & Gas from $31.00 to $30.00 and set a “positive” rating for the company in a research report on Tuesday, April 22nd. Finally, Piper Sandler lowered their price target on Magnolia Oil & Gas from $26.00 to $25.00 and set a “neutral” rating on the stock in a report on Tuesday, April 22nd. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $27.21.

Magnolia Oil & Gas Stock Performance

NYSE MGY opened at $21.21 on Monday. The firm has a market cap of $4.12 billion, a price-to-earnings ratio of 10.99, a PEG ratio of 3.01 and a beta of 1.57. Magnolia Oil & Gas Co. has a 1-year low of $19.09 and a 1-year high of $29.02. 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 company has a 50 day moving average of $22.85 and a 200-day moving average of $24.51.

Magnolia Oil & Gas (NYSE:MGY) last announced its quarterly earnings data on Tuesday, February 18th. The company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.03. Magnolia Oil & Gas had a return on equity of 20.74% and a net margin of 27.82%. The firm had revenue of $326.61 million during the quarter, compared to analysts’ expectations of $327.40 million. On average, equities analysts forecast that Magnolia Oil & Gas Co. will post 2.1 earnings per share for the current fiscal year.

Magnolia Oil & Gas Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were given a dividend of $0.15 per share. This is a boost from Magnolia Oil & Gas’s previous quarterly dividend of $0.13. The ex-dividend date was Friday, February 14th. This represents a $0.60 annualized dividend and a dividend yield of 2.83%. Magnolia Oil & Gas’s payout ratio is presently 31.09%.

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.