Ashton Thomas Private Wealth LLC Buys New Position in Magnolia Oil & Gas Co. (NYSE:MGY)

Ashton Thomas Private Wealth LLC acquired a new stake in Magnolia Oil & Gas Co. (NYSE:MGY - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 25,254 shares of the company's stock, valued at approximately $590,000.

Several other hedge funds also recently modified their holdings of the business. First Horizon Advisors Inc. lifted its position in Magnolia Oil & Gas by 64.7% in the third quarter. First Horizon Advisors Inc. now owns 1,008 shares of the company's stock worth $25,000 after purchasing an additional 396 shares during the period. Mather Group LLC. lifted its position in Magnolia Oil & Gas by 100.0% in the fourth quarter. Mather Group LLC. now owns 1,090 shares of the company's stock worth $25,000 after purchasing an additional 545 shares during the period. R Squared Ltd bought a new position in Magnolia Oil & Gas in the fourth quarter worth $43,000. Avior Wealth Management LLC lifted its position in Magnolia Oil & Gas by 30.0% in the fourth quarter. Avior Wealth Management LLC now owns 2,194 shares of the company's stock worth $51,000 after purchasing an additional 506 shares during the period. Finally, Covestor Ltd lifted its position in Magnolia Oil & Gas by 36.8% in the third quarter. Covestor Ltd now owns 2,986 shares of the company's stock worth $73,000 after purchasing an additional 804 shares during the period. 94.73% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Magnolia Oil & Gas news, CEO Christopher G. Stavros acquired 2,500 shares of the business's stock in a transaction dated Monday, March 3rd. The shares were acquired at an average price of $22.05 per share, for a total transaction of $55,125.00. Following the acquisition, the chief executive officer now directly owns 892,372 shares of the company's stock, valued at approximately $19,676,802.60. This trade represents a 0.28 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.20% of the company's stock.

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Magnolia Oil & Gas Trading Down 2.5 %

MGY stock traded down $0.58 during midday trading on Thursday, reaching $22.51. The stock had a trading volume of 2,437,764 shares, compared to its average volume of 2,226,850. The business has a fifty day simple moving average of $24.13 and a two-hundred day simple moving average of $25.06. The company has a quick ratio of 1.47, a current ratio of 1.42 and a debt-to-equity ratio of 0.20. The firm has a market cap of $4.37 billion, a price-to-earnings ratio of 11.66, a PEG ratio of 3.01 and a beta of 1.90. Magnolia Oil & Gas Co. has a twelve month low of $21.63 and a twelve month high of $29.02.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last issued its earnings results on Tuesday, February 18th. The company reported $0.49 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $327.40 million. As a group, research analysts expect that Magnolia Oil & Gas Co. will post 2.1 EPS for the current fiscal year.

Magnolia Oil & Gas Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.60 dividend on an annualized basis and a yield of 2.67%. This is a boost from Magnolia Oil & Gas's previous quarterly dividend of $0.13. Magnolia Oil & Gas's dividend payout ratio (DPR) is 31.09%.

Wall Street Analysts Forecast Growth

MGY has been the subject of several research reports. Piper Sandler raised their target price on Magnolia Oil & Gas from $24.00 to $26.00 and gave the stock a "neutral" rating in a research report on Wednesday, January 29th. Truist Financial increased their price objective 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. Bank of America reiterated a "neutral" rating and set a $28.00 price objective (down from $29.00) on shares of Magnolia Oil & Gas in a research note on Monday, January 13th. Johnson Rice lowered Magnolia Oil & Gas from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, January 28th. Finally, The Goldman Sachs Group lowered Magnolia Oil & Gas from a "buy" rating to a "neutral" rating and dropped their price objective for the stock from $27.00 to $26.00 in a research note on Friday, January 31st. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $27.77.

Magnolia Oil & Gas Company 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.