Bryce Point Capital LLC Invests $1.18 Million in Magnolia Oil & Gas Co. (NYSE:MGY)

Bryce Point Capital LLC acquired a new stake in Magnolia Oil & Gas Co. (NYSE:MGY - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 50,595 shares of the company's stock, valued at approximately $1,183,000.

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

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on MGY shares. JPMorgan Chase & Co. decreased their price target on Magnolia Oil & Gas from $28.00 to $24.00 and set a "neutral" rating for the company in a research note on Thursday, March 13th. Bank of America reissued 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. Williams Trading set a $29.00 price target on Magnolia Oil & Gas in a research report on Wednesday, March 5th. The Goldman Sachs Group downgraded shares of Magnolia Oil & Gas from a "buy" rating to a "neutral" rating and reduced their price objective for the stock from $27.00 to $26.00 in a research note on Friday, January 31st. Finally, Piper Sandler upped their target price on Magnolia Oil & Gas from $24.00 to $26.00 and gave the stock a "neutral" rating in a research note on Wednesday, January 29th. Two equities research 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's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $27.77.

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Insider Buying and Selling at Magnolia Oil & Gas

In other news, CEO Christopher G. Stavros bought 2,500 shares of the stock in a transaction dated Monday, March 3rd. The shares were bought at an average cost of $22.05 per share, with a total value of $55,125.00. Following the completion of the transaction, the chief executive officer now directly 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 acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 1.20% of the company's stock.

Magnolia Oil & Gas Trading Down 2.2 %

Shares of NYSE MGY traded down $0.45 during midday trading on Tuesday, reaching $20.11. The stock had a trading volume of 705,370 shares, compared to its average volume of 2,257,236. Magnolia Oil & Gas Co. has a twelve month low of $19.89 and a twelve month high of $29.02. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.47 and a current ratio of 1.42. The company's 50 day moving average price is $23.81 and its 200 day moving average price is $25.05. The firm has a market cap of $3.91 billion, a price-to-earnings ratio of 10.42, a price-to-earnings-growth ratio of 3.01 and a beta of 1.57.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last announced its earnings results on Tuesday, February 18th. The company reported $0.49 EPS for the quarter, beating the consensus estimate 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 analyst estimates of $327.40 million. As a group, sell-side analysts expect that Magnolia Oil & Gas Co. will post 2.1 EPS for the current year.

Magnolia Oil & Gas Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 2.98%. This is a boost from Magnolia Oil & Gas's previous quarterly dividend of $0.13. The ex-dividend date of this dividend was Friday, February 14th. Magnolia Oil & Gas's dividend payout ratio (DPR) is presently 31.09%.

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.