Anchor Capital Advisors LLC Purchases 21,173 Shares of Magnolia Oil & Gas Corp $MGY

Anchor Capital Advisors LLC increased its holdings in Magnolia Oil & Gas Corp (NYSE:MGY) by 21.3% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 120,421 shares of the company’s stock after buying an additional 21,173 shares during the quarter. Anchor Capital Advisors LLC’s holdings in Magnolia Oil & Gas were worth $2,636,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. AQR Capital Management LLC raised its position in Magnolia Oil & Gas by 77.7% in the first quarter. AQR Capital Management LLC now owns 56,346 shares of the company’s stock worth $1,423,000 after acquiring an additional 24,631 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Magnolia Oil & Gas by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 103,109 shares of the company’s stock valued at $2,605,000 after purchasing an additional 4,512 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Magnolia Oil & Gas by 8.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 242,880 shares of the company’s stock worth $6,135,000 after purchasing an additional 18,447 shares in the last quarter. Intech Investment Management LLC boosted its stake in Magnolia Oil & Gas by 11.3% in the 1st quarter. Intech Investment Management LLC now owns 68,814 shares of the company’s stock worth $1,738,000 after purchasing an additional 7,008 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its stake in Magnolia Oil & Gas by 165.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,386 shares of the company’s stock worth $31,000 after purchasing an additional 864 shares during the period. 94.73% of the stock is currently owned by hedge funds and other institutional investors.

Magnolia Oil & Gas Stock Performance

Magnolia Oil & Gas stock opened at $28.01 on Thursday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.10 and a quick ratio of 1.10. The firm has a market capitalization of $5.18 billion, a P/E ratio of 16.29 and a beta of 0.71. Magnolia Oil & Gas Corp has a 1-year low of $21.07 and a 1-year high of $32.76. The company’s 50-day moving average is $29.46 and its 200 day moving average is $26.43.

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

Magnolia Oil & Gas Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Tuesday, May 12th were issued a dividend of $0.165 per share. The ex-dividend date was Tuesday, May 12th. This represents a $0.66 dividend on an annualized basis and a yield of 2.4%. Magnolia Oil & Gas’s dividend payout ratio (DPR) is presently 38.37%.

Analyst Upgrades and Downgrades

MGY has been the topic of several research analyst reports. Citigroup lowered their target price on shares of Magnolia Oil & Gas from $35.00 to $32.00 and set a “neutral” rating on the stock in a report on Monday, April 13th. Weiss Ratings lowered Magnolia Oil & Gas from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, May 21st. Zacks Research cut Magnolia Oil & Gas from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 19th. Mizuho lifted their price objective on Magnolia Oil & Gas from $33.00 to $35.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 27th. Finally, Piper Sandler upped their price objective on Magnolia Oil & Gas from $28.00 to $31.00 and gave the stock a “neutral” rating in a report on Thursday, March 12th. Seven equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $31.42.

Insider Buying and Selling

In related news, CEO Christopher G. Stavros sold 119,954 shares of the stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $29.29, for a total value of $3,513,452.66. Following the transaction, the chief executive officer owned 883,592 shares of the company’s stock, valued at $25,880,409.68. This represents a 11.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Brian Corales sold 33,000 shares of the firm’s stock in a transaction on Monday, March 9th. The stock was sold at an average price of $29.12, for a total value of $960,960.00. Following the transaction, the chief financial officer owned 184,178 shares in the company, valued at $5,363,263.36. The trade was a 15.19% 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 over the last 90 days. Corporate insiders own 0.92% of the company’s stock.

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).