Dynamic Technology Lab Private Ltd Makes New $605,000 Investment in Magnolia Oil & Gas Co. (NYSE:MGY)

Dynamic Technology Lab Private Ltd purchased a new position in shares of Magnolia Oil & Gas Co. (NYSE:MGY - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 25,868 shares of the company's stock, valued at approximately $605,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MGY. Vanguard Group Inc. boosted its stake in Magnolia Oil & Gas by 2.2% during the fourth quarter. Vanguard Group Inc. now owns 20,938,200 shares of the company's stock worth $489,535,000 after buying an additional 452,836 shares during the period. State Street Corp boosted its position in shares of Magnolia Oil & Gas by 4.2% during the 3rd quarter. State Street Corp now owns 10,700,257 shares of the company's stock worth $261,300,000 after purchasing an additional 435,326 shares during the period. Wellington Management Group LLP boosted its position in shares of Magnolia Oil & Gas by 0.5% during the 4th quarter. Wellington Management Group LLP now owns 5,020,646 shares of the company's stock worth $117,383,000 after purchasing an additional 26,943 shares during the period. Geode Capital Management LLC increased its holdings in Magnolia Oil & Gas by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 4,136,456 shares of the company's stock valued at $96,733,000 after purchasing an additional 28,687 shares during the last quarter. Finally, Boston Trust Walden Corp raised its position in Magnolia Oil & Gas by 9.5% in the fourth quarter. Boston Trust Walden Corp now owns 3,090,587 shares of the company's stock valued at $72,258,000 after purchasing an additional 267,461 shares during the period. 94.73% of the stock is owned by institutional investors and hedge funds.

Remove Ads

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on MGY shares. Mizuho lifted their price objective on Magnolia Oil & Gas from $27.00 to $28.00 and gave the company a "neutral" rating in a research note on Monday, December 16th. Truist Financial boosted their price target 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. Citigroup dropped their price objective on shares of Magnolia Oil & Gas from $22.00 to $19.00 and set a "sell" rating for the company in a report on Tuesday, April 8th. Johnson Rice downgraded shares of Magnolia Oil & Gas from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, January 28th. Finally, JPMorgan Chase & Co. decreased their price target 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. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Magnolia Oil & Gas presently has a consensus rating of "Hold" and a consensus target price of $27.54.

Insider Activity

In other news, CEO Christopher G. Stavros purchased 2,500 shares of the company's stock in a transaction that occurred 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 purchase, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.20% of the company's stock.

Magnolia Oil & Gas Stock Up 3.8 %

Magnolia Oil & Gas stock traded up $0.76 during midday trading on Friday, reaching $20.39. The company's stock had a trading volume of 3,654,605 shares, compared to its average volume of 2,297,729. The company has a market cap of $3.96 billion, a P/E ratio of 10.56, a P/E/G ratio of 3.01 and a beta of 1.57. The company has a quick ratio of 1.47, a current ratio of 1.42 and a debt-to-equity ratio of 0.20. The business has a 50-day simple moving average of $23.38 and a 200-day simple moving average of $24.86. Magnolia Oil & Gas Co. has a fifty-two week low of $19.09 and a fifty-two week high of $29.02.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last issued 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. The business had revenue of $326.61 million for the quarter, compared to analyst estimates of $327.40 million. Magnolia Oil & Gas had a return on equity of 20.74% and a net margin of 27.82%. On average, research 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 business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 2.94%. The ex-dividend date 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 currently 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.