Alliancebernstein L.P. Has $129.44 Million Holdings in Magnolia Oil & Gas Co. (NYSE:MGY)

Alliancebernstein L.P. lowered its position in shares of Magnolia Oil & Gas Co. (NYSE:MGY - Free Report) by 2.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,536,416 shares of the company's stock after selling 157,003 shares during the period. Alliancebernstein L.P. owned 2.82% of Magnolia Oil & Gas worth $129,441,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. Mather Group LLC. boosted its holdings in Magnolia Oil & Gas by 100.0% in the 4th quarter. Mather Group LLC. now owns 1,090 shares of the company's stock valued at $25,000 after purchasing an additional 545 shares during the period. Larson Financial Group LLC raised its position in shares of Magnolia Oil & Gas by 112.3% in the fourth quarter. Larson Financial Group LLC now owns 1,072 shares of the company's stock valued at $25,000 after buying an additional 567 shares in the last quarter. R Squared Ltd acquired a new stake in shares of Magnolia Oil & Gas in the fourth quarter valued at approximately $43,000. Avior Wealth Management LLC boosted its stake in shares of Magnolia Oil & Gas by 30.0% in the fourth quarter. Avior Wealth Management LLC now owns 2,194 shares of the company's stock valued at $51,000 after buying an additional 506 shares during the period. Finally, Smartleaf Asset Management LLC grew its position in Magnolia Oil & Gas by 95.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 3,777 shares of the company's stock worth $88,000 after buying an additional 1,844 shares in 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 purchased 2,500 shares of the firm'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 purchase, 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 position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. 1.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on MGY shares. Williams Trading set a $29.00 price objective on Magnolia Oil & Gas in a report on Wednesday, March 5th. JPMorgan Chase & Co. cut their price objective on shares of Magnolia Oil & Gas from $28.00 to $24.00 and set a "neutral" rating for the company in a research report on Thursday, March 13th. Truist Financial increased their price objective on shares of Magnolia Oil & Gas from $33.00 to $34.00 and gave the stock a "buy" rating in a research note on Monday, January 13th. Piper Sandler boosted their target price on shares of Magnolia Oil & Gas from $24.00 to $26.00 and gave the company a "neutral" rating in a research report on Wednesday, January 29th. Finally, Bank of America reiterated a "neutral" rating and set a $28.00 price target (down previously from $29.00) on shares of Magnolia Oil & Gas in a research report on Monday, January 13th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $27.77.

Magnolia Oil & Gas Price Performance

MGY stock traded down $0.57 during midday trading on Monday, reaching $20.54. 4,533,800 shares of the stock were exchanged, compared to its average volume of 2,262,945. Magnolia Oil & Gas Co. has a 52 week low of $19.89 and a 52 week high of $29.02. The company has a fifty day moving average price of $23.81 and a 200 day moving average price of $25.05. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.42 and a quick ratio of 1.47. The stock has a market capitalization of $3.99 billion, a PE ratio of 10.64, a P/E/G ratio of 3.01 and a beta of 1.57.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last released its quarterly earnings results 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. The company had revenue of $326.61 million for the quarter, compared to analysts' expectations of $327.40 million. Magnolia Oil & Gas had a return on equity of 20.74% and a net margin of 27.82%. As a group, analysts expect that Magnolia Oil & Gas Co. will post 2.1 EPS for the current fiscal year.

Magnolia Oil & Gas Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were paid a dividend of $0.15 per share. The ex-dividend date was Friday, February 14th. This represents a $0.60 annualized dividend and a dividend yield of 2.92%. This is an increase from Magnolia Oil & Gas's previous quarterly dividend of $0.13. Magnolia Oil & Gas's dividend payout ratio (DPR) is presently 31.09%.

Magnolia Oil & Gas 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.