Magnolia Oil & Gas Co. (NYSE:MGY) Shares Bought by Wells Fargo & Company MN

Wells Fargo & Company MN grew its stake in Magnolia Oil & Gas Co. (NYSE:MGY - Free Report) by 22.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 259,038 shares of the company's stock after buying an additional 48,145 shares during the period. Wells Fargo & Company MN owned 0.13% of Magnolia Oil & Gas worth $6,056,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Barclays PLC boosted its holdings 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 valued at $40,383,000 after acquiring an additional 636,049 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Magnolia Oil & Gas during the 4th quarter worth $13,634,000. Vanguard Group Inc. increased its holdings in Magnolia Oil & Gas by 2.2% in the 4th quarter. Vanguard Group Inc. now owns 20,938,200 shares of the company's stock valued at $489,535,000 after purchasing an additional 452,836 shares in the last quarter. Vest Financial LLC lifted its position in shares of Magnolia Oil & Gas by 39.0% during the fourth quarter. Vest Financial LLC now owns 1,521,004 shares of the company's stock worth $35,561,000 after purchasing an additional 426,572 shares during the last quarter. Finally, ExodusPoint Capital Management LP increased its stake in shares of Magnolia Oil & Gas by 683.9% in the fourth quarter. ExodusPoint Capital Management LP now owns 406,853 shares of the company's stock valued at $9,512,000 after purchasing an additional 354,949 shares during the period. Institutional investors and hedge funds own 94.73% of the company's stock.

Magnolia Oil & Gas Price Performance

NYSE MGY traded up $0.52 on Thursday, reaching $21.22. The company had a trading volume of 276,627 shares, compared to its average volume of 2,282,174. The firm's 50 day moving average price is $22.95 and its 200 day moving average price is $24.61. 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. The stock has a market capitalization of $4.12 billion, a PE ratio of 10.95, a price-to-earnings-growth ratio of 3.01 and a beta of 1.57.

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, beating analysts' consensus estimates of $0.46 by $0.03. The business had revenue of $326.61 million for the quarter, compared to the consensus estimate of $327.40 million. Magnolia Oil & Gas had a return on equity of 20.74% and a net margin of 27.82%. As a group, 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 business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 2.83%. 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 currently 31.09%.

Insider Buying and Selling

In related news, CEO Christopher G. Stavros purchased 2,500 shares of the business's 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 purchase, the chief executive officer now directly 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.20% of the company's stock.

Analyst Ratings Changes

MGY has been the subject of several research analyst reports. Susquehanna cut their price objective on Magnolia Oil & Gas from $31.00 to $30.00 and set a "positive" rating for the company in a report on Tuesday. Piper Sandler dropped their target price on Magnolia Oil & Gas from $26.00 to $25.00 and set a "neutral" rating on the stock in a research report on Tuesday. The Goldman Sachs Group cut shares of Magnolia Oil & Gas from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $27.00 to $26.00 in a research note on Friday, January 31st. Johnson Rice lowered shares of Magnolia Oil & Gas from a "moderate buy" rating to a "hold" rating in a report on Tuesday, January 28th. Finally, UBS Group started coverage on shares of Magnolia Oil & Gas in a research note on Tuesday. They issued a "buy" rating and a $26.00 target price on the stock. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $27.21.

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.