16,208 Shares in Magnolia Oil & Gas Co. (NYSE:MGY) Acquired by Cibc World Markets Corp

Cibc World Markets Corp bought a new stake in shares of Magnolia Oil & Gas Co. (NYSE:MGY - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 16,208 shares of the company's stock, valued at approximately $379,000.

A number of other large investors also recently added to or reduced their stakes in MGY. First Horizon Advisors Inc. grew its holdings in Magnolia Oil & Gas by 64.7% during the 3rd quarter. First Horizon Advisors Inc. now owns 1,008 shares of the company's stock valued at $25,000 after buying an additional 396 shares in the last quarter. Albert D Mason Inc. grew its stake in Magnolia Oil & Gas by 0.7% during the fourth quarter. Albert D Mason Inc. now owns 61,497 shares of the company's stock valued at $1,438,000 after acquiring an additional 411 shares in the last quarter. Isthmus Partners LLC increased its holdings in Magnolia Oil & Gas by 5.2% in the 4th quarter. Isthmus Partners LLC now owns 9,320 shares of the company's stock valued at $218,000 after acquiring an additional 460 shares during the last quarter. Jennison Associates LLC lifted its stake in Magnolia Oil & Gas by 2.2% in the 3rd quarter. Jennison Associates LLC now owns 23,836 shares of the company's stock worth $582,000 after purchasing an additional 506 shares in the last quarter. Finally, Avior Wealth Management LLC boosted its holdings in shares of Magnolia Oil & Gas by 30.0% during the 4th 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. 94.73% of the stock is owned by hedge funds and other institutional investors.

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Insider Activity at Magnolia Oil & Gas

In related news, CEO Christopher G. Stavros acquired 2,500 shares of the company's stock in a transaction dated Monday, March 3rd. The shares were purchased at an average cost of $22.05 per share, with a total value of $55,125.00. Following the completion of the acquisition, the chief executive officer now directly owns 892,372 shares of the company's stock, valued at $19,676,802.60. This represents a 0.28 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.20% of the stock is currently owned by insiders.

Magnolia Oil & Gas Stock Down 0.9 %

NYSE MGY traded down $0.23 on Thursday, hitting $25.37. The stock had a trading volume of 2,370,619 shares, compared to its average volume of 2,168,172. The business's fifty day moving average price is $24.13 and its 200 day moving average price is $25.05. The stock has a market cap of $4.93 billion, a price-to-earnings ratio of 13.15, a price-to-earnings-growth ratio of 3.01 and a beta of 1.90. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.42 and a quick ratio of 1.47. Magnolia Oil & Gas Co. has a 52-week low of $21.63 and a 52-week high of $29.02.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last announced its 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. Magnolia Oil & Gas had a return on equity of 20.74% and a net margin of 27.82%. The firm had revenue of $326.61 million for the quarter, compared to the consensus estimate of $327.40 million. Equities research analysts anticipate that Magnolia Oil & Gas Co. will post 2.1 earnings per share for the current year.

Magnolia Oil & Gas Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were issued 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 2.36%. This is an increase from Magnolia Oil & Gas's previous quarterly dividend of $0.13. Magnolia Oil & Gas's dividend payout ratio is 31.09%.

Analysts Set New Price Targets

Several research firms have weighed in on MGY. JPMorgan Chase & Co. cut their price target 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. Johnson Rice cut Magnolia Oil & Gas from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, January 28th. The Goldman Sachs Group cut shares of 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. Williams Trading set a $29.00 price objective on Magnolia Oil & Gas in a report on Wednesday, March 5th. Finally, Bank of America reiterated a "neutral" rating and issued a $28.00 target price (down from $29.00) on shares of Magnolia Oil & Gas in a report on Monday, January 13th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat, Magnolia Oil & Gas has a consensus rating of "Hold" and an average target price of $27.77.

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.