Magnolia Oil & Gas Co. (NYSE:MGY) Shares Bought by First Trust Advisors LP

First Trust Advisors LP lifted its position in Magnolia Oil & Gas Co. (NYSE:MGY - Free Report) by 24.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 15,410,496 shares of the company's stock after purchasing an additional 3,038,709 shares during the period. First Trust Advisors LP owned 7.84% of Magnolia Oil & Gas worth $360,297,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. HighTower Advisors LLC bought a new position in Magnolia Oil & Gas in the third quarter worth about $353,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Magnolia Oil & Gas by 4.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,076,541 shares of the company's stock worth $48,550,000 after purchasing an additional 85,524 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in shares of Magnolia Oil & Gas in the 4th quarter valued at about $590,000. Proficio Capital Partners LLC acquired a new position in Magnolia Oil & Gas in the fourth quarter valued at approximately $292,000. Finally, Mitsubishi UFJ Asset Management UK Ltd. purchased a new position in shares of Magnolia Oil & Gas during the 4th quarter valued at approximately $912,000. Institutional investors own 94.73% of the company's stock.

Insider Activity at Magnolia Oil & Gas

In related news, CEO Christopher G. Stavros acquired 2,500 shares of Magnolia Oil & Gas stock in a transaction that occurred on Monday, March 3rd. The shares were purchased at an average cost of $22.05 per share, for a total transaction of $55,125.00. Following the acquisition, the chief executive officer now owns 892,372 shares in the company, valued at approximately $19,676,802.60. This represents a 0.28 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 1.20% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

MGY has been the subject of a number of recent analyst reports. UBS Group assumed coverage on shares of Magnolia Oil & Gas in a report on Tuesday. They issued a "buy" rating and a $26.00 price objective for the company. Truist Financial upped their price target on Magnolia Oil & Gas from $33.00 to $34.00 and gave the stock a "buy" rating in a report on Monday, January 13th. Williams Trading set a $29.00 price objective on Magnolia Oil & Gas in a report on Wednesday, March 5th. Johnson Rice downgraded Magnolia Oil & Gas from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, January 28th. Finally, Citigroup dropped their price target on shares of Magnolia Oil & Gas from $22.00 to $19.00 and set a "sell" rating on the stock in a research note on Tuesday, April 8th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $27.21.

Magnolia Oil & Gas Trading Up 3.6 %

NYSE MGY traded up $0.74 on Thursday, reaching $21.44. 761,286 shares of the company were exchanged, compared to its average volume of 2,784,957. Magnolia Oil & Gas Co. has a fifty-two week low of $19.09 and a fifty-two week high of $29.02. The stock has a market capitalization of $4.16 billion, a P/E ratio of 11.11, a price-to-earnings-growth ratio of 3.01 and a beta of 1.57. The business's fifty day moving average price is $22.95 and its 200 day moving average price is $24.61. The company has a current ratio of 1.42, a quick ratio of 1.47 and a debt-to-equity ratio of 0.20.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last announced its quarterly earnings data on Tuesday, February 18th. The company reported $0.49 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 firm had revenue of $326.61 million during the quarter, compared to analyst estimates of $327.40 million. Analysts forecast 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 declared 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. This represents a $0.60 annualized dividend and a dividend yield of 2.80%. 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 payout ratio is presently 31.09%.

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.