Magnetar Financial LLC Acquires 165,073 Shares of Magnolia Oil & Gas Co. (NYSE:MGY)

Magnetar Financial LLC increased its stake in Magnolia Oil & Gas Co. (NYSE:MGY - Free Report) by 857.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 184,323 shares of the company's stock after purchasing an additional 165,073 shares during the quarter. Magnetar Financial LLC owned approximately 0.09% of Magnolia Oil & Gas worth $4,309,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. First Horizon Advisors Inc. boosted its position in shares of Magnolia Oil & Gas by 64.7% in the third quarter. First Horizon Advisors Inc. now owns 1,008 shares of the company's stock worth $25,000 after buying an additional 396 shares during the period. Mather Group LLC. lifted its stake in Magnolia Oil & Gas by 100.0% in the 4th quarter. Mather Group LLC. now owns 1,090 shares of the company's stock worth $25,000 after acquiring an additional 545 shares in the last quarter. Larson Financial Group LLC boosted its position in 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 acquiring an additional 567 shares during the period. R Squared Ltd purchased a new position in Magnolia Oil & Gas during the 4th quarter valued at about $43,000. Finally, Avior Wealth Management LLC increased its holdings in shares of Magnolia Oil & Gas by 30.0% in the 4th quarter. Avior Wealth Management LLC now owns 2,194 shares of the company's stock valued at $51,000 after purchasing an additional 506 shares during the period. Institutional investors and hedge funds own 94.73% of the company's stock.

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Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Williams Trading set a $29.00 price target on shares of Magnolia Oil & Gas in a report on Wednesday, March 5th. JPMorgan Chase & Co. lowered their price target on shares of Magnolia Oil & Gas from $28.00 to $24.00 and set a "neutral" rating on the stock in a report on Thursday, March 13th. Bank of America reaffirmed a "neutral" rating and issued a $28.00 price target (down from $29.00) on shares of Magnolia Oil & Gas in a research note on Monday, January 13th. The Goldman Sachs Group cut Magnolia Oil & Gas from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $27.00 to $26.00 in a research report on Friday, January 31st. Finally, Johnson Rice lowered Magnolia Oil & Gas from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, January 28th. 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. According to MarketBeat, Magnolia Oil & Gas presently has a consensus rating of "Hold" and an average price target of $27.77.

Magnolia Oil & Gas Stock Performance

Shares of NYSE MGY traded up $0.24 during trading hours on Tuesday, hitting $25.38. 2,182,594 shares of the company's stock were exchanged, compared to its average volume of 2,166,324. The stock has a market capitalization of $4.93 billion, a price-to-earnings ratio of 13.15, a PEG ratio of 3.01 and a beta of 1.90. The company's 50-day moving average price is $24.15 and its 200-day moving average price is $25.03. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.42 and a quick ratio of 1.47. Magnolia Oil & Gas Co. has a 1-year low of $21.63 and a 1-year high of $29.02.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last posted its quarterly earnings data on Tuesday, February 18th. The company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.03. The company had revenue of $326.61 million during the quarter, compared to analysts' expectations of $327.40 million. Magnolia Oil & Gas had a return on equity of 20.74% and a net margin of 27.82%. On average, sell-side analysts expect that Magnolia Oil & Gas Co. will post 2.1 earnings per share for the current fiscal year.

Magnolia Oil & Gas Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were given a dividend of $0.15 per share. The ex-dividend date was Friday, February 14th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.36%. This is a positive change from Magnolia Oil & Gas's previous quarterly dividend of $0.13. Magnolia Oil & Gas's dividend payout ratio is currently 31.09%.

Insider Activity at Magnolia Oil & Gas

In other news, CEO Christopher G. Stavros acquired 2,500 shares of the stock in a transaction dated Monday, March 3rd. The shares were acquired at an average cost of $22.05 per share, for a total transaction of $55,125.00. Following the completion of 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 transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.20% of the stock is owned by corporate insiders.

Magnolia Oil & Gas 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.