Elo Mutual Pension Insurance Co Buys Shares of 19,559 Magnolia Oil & Gas Co. (NYSE:MGY)

Elo Mutual Pension Insurance Co bought a new position in shares of Magnolia Oil & Gas Co. (NYSE:MGY - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 19,559 shares of the company's stock, valued at approximately $457,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Albert D Mason Inc. increased its stake in Magnolia Oil & Gas by 0.7% in the 4th quarter. Albert D Mason Inc. now owns 61,497 shares of the company's stock worth $1,438,000 after acquiring an additional 411 shares during the last quarter. Isthmus Partners LLC raised its stake in Magnolia Oil & Gas by 5.2% during the fourth quarter. Isthmus Partners LLC now owns 9,320 shares of the company's stock valued at $218,000 after purchasing an additional 460 shares in the last quarter. Avior Wealth Management LLC lifted its position in Magnolia Oil & Gas by 30.0% during the fourth 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. Mather Group LLC. lifted its position in Magnolia Oil & Gas by 100.0% during the fourth quarter. Mather Group LLC. now owns 1,090 shares of the company's stock valued at $25,000 after purchasing an additional 545 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in shares of Magnolia Oil & Gas by 1.4% in the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 40,783 shares of the company's stock worth $954,000 after buying an additional 564 shares in the last quarter. Institutional investors own 94.73% of the company's stock.

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Magnolia Oil & Gas Trading Down 10.5 %

MGY stock traded down $2.47 during trading on Friday, hitting $21.05. The company had a trading volume of 5,165,010 shares, compared to its average volume of 2,252,984. Magnolia Oil & Gas Co. has a 52-week low of $20.77 and a 52-week high of $29.02. The company has a 50 day simple moving average of $23.90 and a 200-day simple moving average of $25.09. The firm has a market capitalization of $4.09 billion, a P/E ratio of 10.90, a PEG 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.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last issued its earnings results on Tuesday, February 18th. The company reported $0.49 EPS for the quarter, topping analysts' consensus estimates of $0.46 by $0.03. Magnolia Oil & Gas had a net margin of 27.82% and a return on equity of 20.74%. The business had revenue of $326.61 million for the quarter, compared to the consensus estimate of $327.40 million. As a group, research analysts forecast 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 announced 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 annualized dividend and a dividend yield of 2.85%. 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 is currently 31.09%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on MGY. Piper Sandler increased their price target on shares of Magnolia Oil & Gas from $24.00 to $26.00 and gave the company a "neutral" rating in a report on Wednesday, January 29th. Johnson Rice lowered Magnolia Oil & Gas from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, January 28th. JPMorgan Chase & Co. cut their target price on Magnolia Oil & Gas from $28.00 to $24.00 and set a "neutral" rating on the stock in a research report on Thursday, March 13th. The Goldman Sachs Group downgraded Magnolia Oil & Gas from a "buy" rating to a "neutral" rating and lowered their price target for the stock from $27.00 to $26.00 in a research report on Friday, January 31st. Finally, Bank of America reiterated a "neutral" rating and set a $28.00 price objective (down previously from $29.00) on shares of Magnolia Oil & Gas in a research report on Monday, January 13th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $27.77.

Insider Transactions at Magnolia Oil & Gas

In other Magnolia Oil & Gas news, CEO Christopher G. Stavros purchased 2,500 shares of the stock in a transaction dated Monday, March 3rd. The stock was purchased at an average price of $22.05 per share, with a total value of $55,125.00. Following 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 ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.20% of the company's stock.

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.