KLP Kapitalforvaltning AS Takes $1.11 Million Position in Magnolia Oil & Gas Co. (NYSE:MGY)

KLP Kapitalforvaltning AS purchased a new stake in Magnolia Oil & Gas Co. (NYSE:MGY - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 47,300 shares of the company's stock, valued at approximately $1,106,000.

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

Magnolia Oil & Gas Stock Performance

Shares of MGY stock traded down $2.18 during trading hours on Thursday, hitting $23.54. 3,137,188 shares of the company were exchanged, compared to its average volume of 2,239,944. The company has a current ratio of 1.42, a quick ratio of 1.47 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $4.57 billion, a price-to-earnings ratio of 12.20, a P/E/G ratio of 3.01 and a beta of 1.57. The firm has a fifty day simple moving average of $23.98 and a 200 day simple moving average of $25.11. Magnolia Oil & Gas Co. has a 52-week low of $21.63 and a 52-week high of $29.02.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last released its 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 business had revenue of $326.61 million during the quarter, compared to the consensus estimate of $327.40 million. Research analysts predict that Magnolia Oil & Gas Co. will post 2.1 earnings per share for the current fiscal year.

Magnolia Oil & Gas Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 2.55%. The ex-dividend date of this dividend was Friday, February 14th. This is a positive change from Magnolia Oil & Gas's previous quarterly dividend of $0.13. Magnolia Oil & Gas's dividend payout ratio (DPR) is currently 31.09%.

Insider Transactions at Magnolia Oil & Gas

In related news, CEO Christopher G. Stavros bought 2,500 shares of the company's stock in a transaction on Monday, March 3rd. The shares were purchased at an average price of $22.05 per share, for a total transaction of $55,125.00. Following the completion of the transaction, the chief executive officer now directly owns 892,372 shares in the company, valued at approximately $19,676,802.60. The trade was a 0.28 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.20% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on MGY. Mizuho raised their price target on shares of Magnolia Oil & Gas from $27.00 to $28.00 and gave the company a "neutral" rating in a research report on Monday, December 16th. Johnson Rice cut Magnolia Oil & Gas from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, January 28th. Piper Sandler upped their price target on Magnolia Oil & Gas from $24.00 to $26.00 and gave the stock a "neutral" rating in a report on Wednesday, January 29th. JPMorgan Chase & Co. dropped their price objective on Magnolia Oil & Gas from $28.00 to $24.00 and set a "neutral" rating on the stock in a research note on Thursday, March 13th. Finally, The Goldman Sachs Group lowered shares of Magnolia Oil & Gas from a "buy" rating to a "neutral" rating and reduced their target price for the stock from $27.00 to $26.00 in a research note on Friday, January 31st. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $27.77.

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.