AlphaQuest LLC Buys 58,883 Shares of Magnolia Oil & Gas Corp $MGY

AlphaQuest LLC grew its stake in Magnolia Oil & Gas Corp (NYSE:MGY) by 2,740.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 61,032 shares of the company’s stock after acquiring an additional 58,883 shares during the quarter. AlphaQuest LLC’s holdings in Magnolia Oil & Gas were worth $1,336,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Royce & Associates LP bought a new position in shares of Magnolia Oil & Gas during the fourth quarter valued at $527,000. New Age Alpha Advisors LLC raised its position in Magnolia Oil & Gas by 415.9% in the fourth quarter. New Age Alpha Advisors LLC now owns 28,072 shares of the company’s stock worth $614,000 after acquiring an additional 22,631 shares during the period. Hantz Financial Services Inc. raised its stake in shares of Magnolia Oil & Gas by 83.0% in the fourth quarter. Hantz Financial Services Inc. now owns 13,849 shares of the company’s stock worth $303,000 after buying an additional 6,281 shares during the period. Jefferies Financial Group Inc. raised its stake in shares of Magnolia Oil & Gas by 473.6% in the fourth quarter. Jefferies Financial Group Inc. now owns 614,682 shares of the company’s stock worth $13,455,000 after buying an additional 507,524 shares during the period. Finally, MQS Management LLC bought a new stake in shares of Magnolia Oil & Gas during the 4th quarter valued at $967,000. Institutional investors own 94.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Zacks Research downgraded Magnolia Oil & Gas from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 19th. Piper Sandler boosted their target price on shares of Magnolia Oil & Gas from $28.00 to $31.00 and gave the stock a “neutral” rating in a report on Thursday, March 12th. Mizuho boosted their target price on Magnolia Oil & Gas from $33.00 to $35.00 and gave the company an “outperform” rating in a research report on Wednesday. Wells Fargo & Company cut their price target on shares of Magnolia Oil & Gas from $32.00 to $31.00 and set an “equal weight” rating on the stock in a report on Wednesday, May 13th. Finally, Roth Mkm reaffirmed a “neutral” rating and issued a $32.00 price objective (up from $29.00) on shares of Magnolia Oil & Gas in a research report on Wednesday, April 8th. Seven equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat, Magnolia Oil & Gas has a consensus rating of “Hold” and an average target price of $31.42.

Insider Buying and Selling at Magnolia Oil & Gas

In other news, Director Edward P. Djerejian sold 18,000 shares of the business’s stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $28.98, for a total transaction of $521,640.00. Following the sale, the director owned 110,425 shares in the company, valued at approximately $3,200,116.50. The trade was a 14.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Dan F. Smith sold 18,000 shares of Magnolia Oil & Gas 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 sale, the director owned 119,204 shares of the company’s stock, valued at $3,458,108.04. This trade represents a 13.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 338,954 shares of company stock valued at $9,911,733. Insiders own 0.92% of the company’s stock.

Magnolia Oil & Gas Price Performance

NYSE MGY opened at $27.77 on Friday. Magnolia Oil & Gas Corp has a 52-week low of $21.07 and a 52-week high of $32.76. The firm’s 50 day moving average price is $29.69 and its 200-day moving average price is $26.29. The company has a market cap of $5.14 billion, a PE ratio of 16.14 and a beta of 0.75. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.10 and a current ratio of 1.10.

Magnolia Oil & Gas (NYSE:MGY) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.03. Magnolia Oil & Gas had a return on equity of 16.28% and a net margin of 24.40%.The company had revenue of $358.51 million for the quarter, compared to the consensus estimate of $349.89 million. During the same quarter last year, the company earned $0.54 earnings per share. The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. Sell-side analysts forecast that Magnolia Oil & Gas Corp will post 2.85 EPS for the current fiscal year.

Magnolia Oil & Gas Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Tuesday, May 12th will be paid a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 2.4%. The ex-dividend date is Tuesday, May 12th. Magnolia Oil & Gas’s dividend payout ratio (DPR) is 38.37%.

Magnolia Oil & Gas Profile

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).