Aigen Investment Management LP Raises Stake in Magnolia Oil & Gas Co. (NYSE:MGY)

Aigen Investment Management LP lifted its holdings in Magnolia Oil & Gas Co. (NYSE:MGY - Free Report) by 266.5% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 46,919 shares of the company's stock after buying an additional 34,117 shares during the period. Aigen Investment Management LP's holdings in Magnolia Oil & Gas were worth $1,097,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MGY. Soros Fund Management LLC purchased a new position in shares of Magnolia Oil & Gas in the 3rd quarter worth approximately $18,120,000. Barclays PLC boosted its stake in shares of Magnolia Oil & Gas by 62.5% in the 3rd quarter. Barclays PLC now owns 1,653,736 shares of the company's stock worth $40,383,000 after buying an additional 636,049 shares during the last quarter. State Street Corp boosted its stake in shares of Magnolia Oil & Gas by 4.2% in the 3rd quarter. State Street Corp now owns 10,700,257 shares of the company's stock worth $261,300,000 after buying an additional 435,326 shares during the last quarter. Centiva Capital LP boosted its stake in shares of Magnolia Oil & Gas by 767.6% in the 3rd quarter. Centiva Capital LP now owns 487,148 shares of the company's stock worth $11,896,000 after buying an additional 430,996 shares during the last quarter. Finally, Vest Financial LLC boosted its stake in shares of Magnolia Oil & Gas by 39.0% in the 4th quarter. Vest Financial LLC now owns 1,521,004 shares of the company's stock worth $35,561,000 after buying an additional 426,572 shares during the last quarter. Hedge funds and other institutional investors own 94.73% of the company's stock.

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Insider Buying and Selling at Magnolia Oil & Gas

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 stock was bought at an average price of $22.05 per share, with a total value of $55,125.00. Following the completion of the acquisition, the chief executive officer now owns 892,372 shares of the company's stock, 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 SEC, which is available through this hyperlink. Insiders own 1.20% of the company's stock.

Magnolia Oil & Gas Stock Performance

MGY stock traded up $0.68 during midday trading on Friday, reaching $23.28. 3,227,934 shares of the company's stock traded hands, compared to its average volume of 2,222,762. The company has a 50-day moving average price of $24.16 and a two-hundred day moving average price of $25.12. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.47 and a current ratio of 1.42. Magnolia Oil & Gas Co. has a 52 week low of $21.63 and a 52 week high of $29.02. The firm has a market capitalization of $4.52 billion, a PE ratio of 12.06, a price-to-earnings-growth ratio of 3.01 and a beta of 1.90.

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, beating analysts' consensus estimates of $0.46 by $0.03. Magnolia Oil & Gas had a net margin of 27.82% and a return on equity of 20.74%. The business had revenue of $326.61 million for the quarter, compared to analysts' expectations of $327.40 million. As a group, equities analysts anticipate that Magnolia Oil & Gas Co. will post 2.1 EPS for the current 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 paid a $0.15 dividend. This is a positive change from Magnolia Oil & Gas's previous quarterly dividend of $0.13. This represents a $0.60 dividend on an annualized basis and a yield of 2.58%. The ex-dividend date was Friday, February 14th. Magnolia Oil & Gas's dividend payout ratio is currently 31.09%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Truist Financial boosted their target price 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. Mizuho lifted their price target on shares of Magnolia Oil & Gas from $27.00 to $28.00 and gave the stock a "neutral" rating in a report on Monday, December 16th. Bank of America reaffirmed a "neutral" rating and issued a $28.00 price target (down previously from $29.00) on shares of Magnolia Oil & Gas in a report on Monday, January 13th. Johnson Rice cut shares of Magnolia Oil & Gas from a "moderate buy" rating to a "hold" rating in a report on Tuesday, January 28th. Finally, Piper Sandler lifted their price target 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. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Magnolia Oil & Gas presently has an average rating of "Hold" and a consensus price target of $27.58.

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.