ExodusPoint Capital Management LP Boosts Holdings in Magnolia Oil & Gas Co. (NYSE:MGY)

ExodusPoint Capital Management LP increased its holdings in Magnolia Oil & Gas Co. (NYSE:MGY - Free Report) by 683.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 406,853 shares of the company's stock after purchasing an additional 354,949 shares during the period. ExodusPoint Capital Management LP owned approximately 0.21% of Magnolia Oil & Gas worth $9,512,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in MGY. Soros Fund Management LLC purchased a new position in shares of Magnolia Oil & Gas in the third quarter worth about $18,120,000. Barclays PLC increased its stake in Magnolia Oil & Gas by 62.5% in the 3rd quarter. Barclays PLC now owns 1,653,736 shares of the company's stock worth $40,383,000 after purchasing an additional 636,049 shares during the period. Raymond James Financial Inc. bought a new stake in Magnolia Oil & Gas in the fourth quarter valued at approximately $13,634,000. Vanguard Group Inc. boosted its stake in shares of Magnolia Oil & Gas by 2.2% during the fourth quarter. Vanguard Group Inc. now owns 20,938,200 shares of the company's stock valued at $489,535,000 after purchasing an additional 452,836 shares during the period. Finally, State Street Corp grew its holdings in shares of Magnolia Oil & Gas by 4.2% in the third 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 last quarter. 94.73% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently commented on MGY shares. 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 report on Monday, January 13th. JPMorgan Chase & Co. lowered their price objective on shares of Magnolia Oil & Gas from $28.00 to $24.00 and set a "neutral" rating for the company in a research note 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. Piper Sandler upped their price target on Magnolia Oil & Gas from $24.00 to $26.00 and gave the company a "neutral" rating in a research report on Wednesday, January 29th. Finally, Mizuho boosted their target price 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. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, Magnolia Oil & Gas presently has an average rating of "Hold" and an average target price of $27.54.

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Magnolia Oil & Gas Stock Down 8.1 %

NYSE MGY traded down $1.80 during trading hours on Thursday, reaching $20.32. 953,902 shares of the company's stock traded hands, compared to its average volume of 2,279,709. Magnolia Oil & Gas Co. has a 52-week low of $19.09 and a 52-week high of $29.02. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.42 and a quick ratio of 1.47. The firm has a 50-day simple moving average of $23.53 and a 200 day simple moving average of $24.92. The firm has a market cap of $3.94 billion, a PE ratio of 10.55, a PEG ratio of 3.01 and a beta of 1.57.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last posted its quarterly 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 company had revenue of $326.61 million for the quarter, compared to the consensus estimate of $327.40 million. Magnolia Oil & Gas had a return on equity of 20.74% and a net margin of 27.82%. Sell-side analysts anticipate that Magnolia Oil & Gas Co. will post 2.1 EPS for the current fiscal year.

Magnolia Oil & Gas Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were paid a dividend of $0.15 per share. This is a positive change from Magnolia Oil & Gas's previous quarterly dividend of $0.13. This represents a $0.60 dividend on an annualized basis and a yield of 2.95%. The ex-dividend date of this dividend was Friday, February 14th. Magnolia Oil & Gas's dividend payout ratio (DPR) is currently 31.09%.

Insider Buying and Selling

In related news, CEO Christopher G. Stavros bought 2,500 shares of the business's stock in a transaction on Monday, March 3rd. The stock was acquired 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 in the company, valued at approximately $19,676,802.60. This trade represents a 0.28 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 1.20% of the stock is owned by company insiders.

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.