Bessemer Group Inc. Acquires 31,840 Shares of Magnolia Oil & Gas Co. (NYSE:MGY)

Bessemer Group Inc. boosted its holdings in shares of Magnolia Oil & Gas Co. (NYSE:MGY - Free Report) by 4.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 800,811 shares of the company's stock after purchasing an additional 31,840 shares during the period. Bessemer Group Inc. owned 0.41% of Magnolia Oil & Gas worth $18,722,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Mather Group LLC. raised its holdings in shares of Magnolia Oil & Gas by 100.0% in the fourth quarter. Mather Group LLC. now owns 1,090 shares of the company's stock valued at $25,000 after buying an additional 545 shares during the last quarter. Larson Financial Group LLC raised its stake 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 worth $25,000 after acquiring an additional 567 shares during the last quarter. R Squared Ltd acquired a new position in shares of Magnolia Oil & Gas during the fourth quarter worth approximately $43,000. Avior Wealth Management LLC grew its stake in shares of Magnolia Oil & Gas by 30.0% during the fourth quarter. Avior Wealth Management LLC now owns 2,194 shares of the company's stock valued at $51,000 after purchasing an additional 506 shares during the last quarter. Finally, Smartleaf Asset Management LLC raised its position in Magnolia Oil & Gas by 95.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 3,777 shares of the company's stock worth $88,000 after purchasing an additional 1,844 shares during the last quarter. Institutional investors and hedge funds own 94.73% of the company's stock.

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Analysts Set New Price Targets

MGY has been the subject of a number of recent research reports. Williams Trading set a $29.00 target price on Magnolia Oil & Gas in a research report on Wednesday, March 5th. JPMorgan Chase & Co. cut their target price on shares of Magnolia Oil & Gas from $28.00 to $24.00 and set a "neutral" rating on the stock in a research report on Thursday, March 13th. 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 research report on Wednesday, January 29th. Mizuho increased their price objective on shares of Magnolia Oil & Gas from $27.00 to $28.00 and gave the company a "neutral" rating in a report on Monday, December 16th. Finally, Bank of America reaffirmed a "neutral" rating and set a $28.00 target price (down previously from $29.00) on shares of Magnolia Oil & Gas in a report on Monday, January 13th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $27.54.

Magnolia Oil & Gas Price Performance

NYSE:MGY traded down $0.11 during trading hours on Monday, reaching $20.27. 2,152,488 shares of the company were exchanged, compared to its average volume of 2,297,151. The business has a 50 day moving average of $23.38 and a 200 day moving average of $24.86. Magnolia Oil & Gas Co. has a 1-year low of $19.09 and a 1-year high of $29.02. 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 company has a market capitalization of $3.94 billion, a P/E ratio of 10.50, a P/E/G ratio of 3.01 and a beta of 1.57.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last issued its quarterly earnings results on Tuesday, February 18th. The company reported $0.49 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 company had revenue of $326.61 million for the quarter, compared to analysts' expectations of $327.40 million. Research analysts forecast that Magnolia Oil & Gas Co. will post 2.1 EPS for the current year.

Magnolia Oil & Gas Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 2.96%. This is a boost from Magnolia Oil & Gas's previous quarterly dividend of $0.13. The ex-dividend date was Friday, February 14th. Magnolia Oil & Gas's dividend payout ratio (DPR) is 31.09%.

Insider Buying and Selling at Magnolia Oil & Gas

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

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.