Fox Run Management L.L.C. Takes Position in Magnolia Oil & Gas Co. (NYSE:MGY)

Fox Run Management L.L.C. bought a new stake in Magnolia Oil & Gas Co. (NYSE:MGY - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 26,165 shares of the company's stock, valued at approximately $612,000.

A number of other large investors have also added to or reduced their stakes in MGY. Soros Fund Management LLC purchased a new position in Magnolia Oil & Gas in the 3rd quarter valued at about $18,120,000. Barclays PLC lifted its stake in shares of Magnolia Oil & Gas by 62.5% in the third 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. Raymond James Financial Inc. purchased a new position in Magnolia Oil & Gas in the fourth quarter valued at about $13,634,000. State Street Corp boosted its holdings in Magnolia Oil & Gas by 4.2% in the third quarter. State Street Corp now owns 10,700,257 shares of the company's stock valued at $261,300,000 after purchasing an additional 435,326 shares during the last quarter. Finally, Centiva Capital LP grew its stake in Magnolia Oil & Gas by 767.6% during the 3rd quarter. Centiva Capital LP now owns 487,148 shares of the company's stock valued at $11,896,000 after purchasing an additional 430,996 shares in the last quarter. 94.73% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on MGY shares. JPMorgan Chase & Co. reduced their target price on 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 lifted 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. Truist Financial increased their target price on shares of Magnolia Oil & Gas from $33.00 to $34.00 and gave the stock a "buy" rating in a report on Monday, January 13th. Finally, Williams Trading set a $29.00 price target on shares of Magnolia Oil & Gas in a report on Wednesday, March 5th. Two equities research 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. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $27.77.

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Insider Buying and Selling at Magnolia Oil & Gas

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

Magnolia Oil & Gas Stock Performance

Shares of MGY traded down $0.14 during mid-day trading on Friday, reaching $25.21. 1,948,716 shares of the company's stock traded hands, compared to its average volume of 2,250,129. Magnolia Oil & Gas Co. has a 12 month low of $21.63 and a 12 month high of $29.02. The stock has a market capitalization of $4.89 billion, a P/E ratio of 13.06, a price-to-earnings-growth ratio of 3.01 and a beta of 1.90. The business's 50-day moving average price is $24.08 and its 200-day moving average price is $25.06. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.47 and a current ratio of 1.42.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last announced its quarterly earnings results on Tuesday, February 18th. The company reported $0.49 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.46 by $0.03. Magnolia Oil & Gas had a return on equity of 20.74% and a net margin of 27.82%. The company had revenue of $326.61 million during the quarter, compared to analyst estimates of $327.40 million. Equities analysts predict that Magnolia Oil & Gas Co. will post 2.1 earnings per share for the current 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 given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 2.38%. This is an increase from Magnolia Oil & Gas's previous quarterly dividend of $0.13. The ex-dividend date was Friday, February 14th. Magnolia Oil & Gas's dividend payout ratio is 31.09%.

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.