Geode Capital Management LLC Has $96.73 Million Stock Holdings in Magnolia Oil & Gas Co. (NYSE:MGY)

Geode Capital Management LLC boosted its stake in Magnolia Oil & Gas Co. (NYSE:MGY - Free Report) by 0.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,136,456 shares of the company's stock after acquiring an additional 28,687 shares during the quarter. Geode Capital Management LLC owned about 2.10% of Magnolia Oil & Gas worth $96,733,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Mather Group LLC. boosted its stake in Magnolia Oil & Gas by 100.0% during the 4th quarter. Mather Group LLC. now owns 1,090 shares of the company's stock valued at $25,000 after acquiring an additional 545 shares during the last quarter. Larson Financial Group LLC increased its holdings in Magnolia Oil & Gas by 112.3% in the fourth quarter. Larson Financial Group LLC now owns 1,072 shares of the company's stock valued at $25,000 after buying an additional 567 shares during the last quarter. R Squared Ltd acquired a new stake in Magnolia Oil & Gas during the fourth quarter valued at approximately $43,000. Avior Wealth Management LLC lifted its holdings in Magnolia Oil & Gas by 30.0% during the 4th quarter. Avior Wealth Management LLC now owns 2,194 shares of the company's stock worth $51,000 after buying an additional 506 shares during the last quarter. Finally, Smartleaf Asset Management LLC increased its holdings in shares of Magnolia Oil & Gas by 95.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 3,777 shares of the company's stock valued at $88,000 after acquiring an additional 1,844 shares during the last quarter. Institutional investors and hedge funds own 94.73% of the company's stock.

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Analyst Ratings Changes

MGY has been the topic of a number of analyst reports. Truist Financial increased their price objective 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. The Goldman Sachs Group lowered Magnolia Oil & Gas from a "buy" rating to a "neutral" rating and cut their price objective for the company from $27.00 to $26.00 in a report on Friday, January 31st. Mizuho increased their target price on shares of Magnolia Oil & Gas from $27.00 to $28.00 and gave the company a "neutral" rating in a research note on Monday, December 16th. 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. Finally, Bank of America reissued a "neutral" rating and set a $28.00 price objective (down from $29.00) on shares of Magnolia Oil & Gas in a research note on Monday, January 13th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Magnolia Oil & Gas currently has an average rating of "Hold" and an average price target of $27.54.

Insider Activity

In related news, CEO Christopher G. Stavros bought 2,500 shares of the firm's stock in a transaction on 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 completion of the transaction, the chief executive officer now directly owns 892,372 shares of the company's stock, 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 document filed with the SEC, which is accessible through this hyperlink. 1.20% of the stock is currently owned by insiders.

Magnolia Oil & Gas Stock Down 0.5 %

Shares of MGY traded down $0.11 during midday trading on Monday, reaching $20.27. 2,152,488 shares of the stock were exchanged, compared to its average volume of 2,297,151. The company has a market cap of $3.94 billion, a price-to-earnings ratio of 10.50, a P/E/G ratio of 3.01 and a beta of 1.57. The firm has a 50 day simple moving average of $23.38 and a 200-day simple moving average of $24.86. Magnolia Oil & Gas Co. has a 12-month low of $19.09 and a 12-month high of $29.02. 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 announced its quarterly 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. Magnolia Oil & Gas had a net margin of 27.82% and a return on equity of 20.74%. The company had revenue of $326.61 million for the quarter, compared to analyst estimates of $327.40 million. Research analysts forecast that Magnolia Oil & Gas Co. will post 2.1 EPS for the current year.

Magnolia Oil & Gas Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 2.96%. The ex-dividend date was 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 is 31.09%.

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.