Entropy Technologies LP Purchases 14,365 Shares of Magnolia Oil & Gas Co. (NYSE:MGY)

Entropy Technologies LP lifted its holdings in shares of Magnolia Oil & Gas Co. (NYSE:MGY - Free Report) by 118.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,503 shares of the company's stock after purchasing an additional 14,365 shares during the quarter. Entropy Technologies LP's holdings in Magnolia Oil & Gas were worth $620,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Soros Fund Management LLC acquired a new stake in shares of Magnolia Oil & Gas during the 3rd quarter worth approximately $18,120,000. Barclays PLC boosted its position in shares of Magnolia Oil & Gas by 62.5% during the 3rd quarter. Barclays PLC now owns 1,653,736 shares of the company's stock worth $40,383,000 after acquiring an additional 636,049 shares in the last quarter. 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 acquiring an additional 435,326 shares in the last quarter. Centiva Capital LP boosted its position in shares of Magnolia Oil & Gas by 767.6% during the 3rd quarter. Centiva Capital LP now owns 487,148 shares of the company's stock worth $11,896,000 after acquiring an additional 430,996 shares in the last quarter. Finally, Vest Financial LLC boosted its position in shares of Magnolia Oil & Gas by 39.0% during the 4th quarter. Vest Financial LLC now owns 1,521,004 shares of the company's stock worth $35,561,000 after acquiring an additional 426,572 shares in the last quarter. 94.73% of the stock is owned by institutional investors.

Analysts Set New Price Targets

MGY has been the topic of several analyst reports. Mizuho increased their price target on shares of Magnolia Oil & Gas from $27.00 to $28.00 and gave the stock a "neutral" rating in a research report on Monday, December 16th. Piper Sandler raised their target price on shares of Magnolia Oil & Gas from $24.00 to $26.00 and gave the company a "neutral" rating in a research report on Wednesday, January 29th. The Goldman Sachs Group lowered shares of Magnolia Oil & Gas from a "buy" rating to a "neutral" rating and cut their target price for the company from $27.00 to $26.00 in a research report on Friday, January 31st. Truist Financial raised their target price 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. Finally, Johnson Rice lowered shares of Magnolia Oil & Gas from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, January 28th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $27.58.

Magnolia Oil & Gas Trading Up 1.2 %

NYSE MGY traded up $0.27 during mid-day trading on Friday, reaching $23.45. 2,770,979 shares of the stock were exchanged, compared to its average volume of 1,746,395. Magnolia Oil & Gas Co. has a one year low of $20.66 and a one year high of $29.02. The stock has a 50 day simple moving average of $24.38 and a 200-day simple moving average of $25.26. The stock has a market cap of $4.61 billion, a P/E ratio of 11.61, a P/E/G ratio of 2.85 and a beta of 1.98. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.47 and a quick ratio of 1.47.

Magnolia Oil & Gas Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Friday, February 14th will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 2.56%. The ex-dividend date is Friday, February 14th. This is an increase from Magnolia Oil & Gas's previous quarterly dividend of $0.13. Magnolia Oil & Gas's dividend payout ratio (DPR) is currently 25.74%.

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.