Magnolia Oil & Gas Co. (NYSE:MGY) Shares Purchased by Brandywine Global Investment Management LLC

Brandywine Global Investment Management LLC increased its position in shares of Magnolia Oil & Gas Co. (NYSE:MGY - Free Report) by 25.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 585,752 shares of the company's stock after buying an additional 119,240 shares during the quarter. Brandywine Global Investment Management LLC owned about 0.30% of Magnolia Oil & Gas worth $13,695,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Soros Fund Management LLC purchased a new position in shares of Magnolia Oil & Gas during the third quarter valued at approximately $18,120,000. Barclays PLC raised its stake in shares of Magnolia Oil & Gas by 62.5% during the third quarter. Barclays PLC now owns 1,653,736 shares of the company's stock worth $40,383,000 after acquiring an additional 636,049 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Magnolia Oil & Gas in the fourth quarter worth $13,634,000. Vanguard Group Inc. lifted its stake in Magnolia Oil & Gas by 2.2% in the fourth quarter. Vanguard Group Inc. now owns 20,938,200 shares of the company's stock worth $489,535,000 after acquiring an additional 452,836 shares during the period. Finally, State Street Corp raised its position 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 acquiring an additional 435,326 shares in the last quarter. 94.73% of the stock is currently owned by institutional investors.

Insider Activity at Magnolia Oil & Gas

In related news, CEO Christopher G. Stavros purchased 2,500 shares of Magnolia Oil & Gas stock in a transaction dated Monday, March 3rd. The shares were acquired at an average price of $22.05 per share, with a total value of $55,125.00. Following the completion of the transaction, the chief executive officer now 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.20% of the stock is currently owned by insiders.

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Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. The Goldman Sachs Group downgraded Magnolia Oil & Gas from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $27.00 to $26.00 in a research note on Friday, January 31st. Truist Financial upped their target price on shares of Magnolia Oil & Gas from $33.00 to $34.00 and gave the company a "buy" rating in a research report on Monday, January 13th. Piper Sandler upped their target price on Magnolia Oil & Gas from $24.00 to $26.00 and gave the company a "neutral" rating in a research note on Wednesday, January 29th. JPMorgan Chase & Co. lowered their target price on Magnolia Oil & Gas from $28.00 to $24.00 and set a "neutral" rating for the company in a report on Thursday, March 13th. Finally, Bank of America reiterated a "neutral" rating and issued a $28.00 target price (down previously from $29.00) on shares of Magnolia Oil & Gas in a research note on Monday, January 13th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $27.77.

Magnolia Oil & Gas Stock Performance

NYSE:MGY traded up $0.23 during mid-day trading on Wednesday, reaching $25.74. The stock had a trading volume of 1,762,209 shares, compared to its average volume of 2,238,719. 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 twelve month low of $21.63 and a twelve month high of $29.02. The firm has a market capitalization of $5.00 billion, a price-to-earnings ratio of 13.34, a PEG ratio of 3.01 and a beta of 1.90. The business has a 50 day simple moving average of $24.04 and a 200 day simple moving average of $25.11.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last announced its quarterly earnings results on Tuesday, February 18th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.03. The company had revenue of $326.61 million for the quarter, compared to the consensus estimate of $327.40 million. Magnolia Oil & Gas had a net margin of 27.82% and a return on equity of 20.74%. On average, analysts expect that Magnolia Oil & Gas Co. will post 2.1 earnings per share for the current fiscal year.

Magnolia Oil & Gas Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date of this dividend was Friday, February 14th. This is an increase from Magnolia Oil & Gas's previous quarterly dividend of $0.13. Magnolia Oil & Gas's payout ratio is 31.09%.

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.