Edgestream Partners L.P. Increases Stock Holdings in Magnolia Oil & Gas Co. (NYSE:MGY)

Edgestream Partners L.P. grew its position in shares of Magnolia Oil & Gas Co. (NYSE:MGY - Free Report) by 17.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 242,294 shares of the company's stock after buying an additional 35,370 shares during the quarter. Edgestream Partners L.P. owned 0.12% of Magnolia Oil & Gas worth $5,665,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. First Horizon Advisors Inc. raised its stake in shares of Magnolia Oil & Gas by 64.7% in the third quarter. First Horizon Advisors Inc. now owns 1,008 shares of the company's stock worth $25,000 after purchasing an additional 396 shares during the last quarter. Albert D Mason Inc. raised its holdings in shares of 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 purchasing an additional 411 shares during the last quarter. Jennison Associates LLC boosted its holdings in Magnolia Oil & Gas by 2.2% in the third quarter. Jennison Associates LLC now owns 23,836 shares of the company's stock worth $582,000 after purchasing an additional 506 shares during the last quarter. Avior Wealth Management LLC grew its position in Magnolia Oil & Gas by 30.0% in the 4th quarter. Avior Wealth Management LLC now owns 2,194 shares of the company's stock worth $51,000 after purchasing an additional 506 shares during the period. Finally, Atria Investments Inc raised its stake in Magnolia Oil & Gas by 2.3% during the 3rd quarter. Atria Investments Inc now owns 23,576 shares of the company's stock valued at $576,000 after buying an additional 523 shares during the last quarter. Institutional investors own 94.73% of the company's stock.

Remove Ads

Magnolia Oil & Gas Price Performance

MGY traded up $0.22 on Wednesday, hitting $23.10. 2,094,179 shares of the company's stock traded hands, compared to its average volume of 2,231,242. Magnolia Oil & Gas Co. has a one year low of $21.63 and a one year high of $29.02. The company has a current ratio of 1.42, a quick ratio of 1.47 and a debt-to-equity ratio of 0.20. The firm has a market cap of $4.48 billion, a price-to-earnings ratio of 11.97, a P/E/G ratio of 3.01 and a beta of 1.90. The company's 50 day simple moving average is $24.16 and its 200-day simple moving average is $25.10.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last released its earnings results on Tuesday, February 18th. The company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.46 by $0.03. The firm 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%. As a group, research analysts anticipate that Magnolia Oil & Gas Co. will post 2.1 EPS for the current year.

Magnolia Oil & Gas Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 2.60%. 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 payout ratio is 31.09%.

Insider Buying and Selling

In other Magnolia Oil & Gas news, CEO Christopher G. Stavros purchased 2,500 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The shares were bought at an average price of $22.05 per share, with a total value of $55,125.00. Following the completion of the purchase, the chief executive officer now directly owns 892,372 shares in the company, valued at $19,676,802.60. This trade represents a 0.28 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.20% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts recently commented on the company. Bank of America reaffirmed a "neutral" rating and issued a $28.00 price objective (down previously from $29.00) on shares of Magnolia Oil & Gas in a report on Monday, January 13th. Truist Financial upped their price target 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 raised their price objective on shares of Magnolia Oil & Gas from $24.00 to $26.00 and gave the stock a "neutral" rating in a report on Wednesday, January 29th. Johnson Rice downgraded shares of Magnolia Oil & Gas from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, January 28th. Finally, Mizuho upped their price objective on Magnolia Oil & Gas from $27.00 to $28.00 and gave the stock a "neutral" rating in a research note on Monday, December 16th. Two investment 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 data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $27.69.

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.