AlphaQuest LLC Has $2.05 Million Stake in Magnolia Oil & Gas Co. (NYSE:MGY)

AlphaQuest LLC lifted its stake in shares of Magnolia Oil & Gas Co. (NYSE:MGY - Free Report) by 350,304.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 87,601 shares of the company's stock after purchasing an additional 87,576 shares during the quarter. AlphaQuest LLC's holdings in Magnolia Oil & Gas were worth $2,048,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Soros Fund Management LLC acquired a new stake in shares of Magnolia Oil & Gas during the 3rd quarter valued at approximately $18,120,000. Barclays PLC increased its position 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 buying an additional 636,049 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Magnolia Oil & Gas in the fourth quarter valued at $13,634,000. State Street Corp raised its stake in shares of Magnolia Oil & Gas by 4.2% during the 3rd quarter. State Street Corp now owns 10,700,257 shares of the company's stock worth $261,300,000 after buying an additional 435,326 shares during the last quarter. Finally, Centiva Capital LP boosted its position in shares of Magnolia Oil & Gas by 767.6% in the 3rd quarter. Centiva Capital LP now owns 487,148 shares of the company's stock worth $11,896,000 after buying an additional 430,996 shares in the last quarter. Institutional investors and hedge funds own 94.73% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Mizuho boosted their price target on Magnolia Oil & Gas from $27.00 to $28.00 and gave the stock a "neutral" rating in a report on Monday, December 16th. Johnson Rice downgraded Magnolia Oil & Gas from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, January 28th. Truist Financial raised their target price on shares of Magnolia Oil & Gas from $33.00 to $34.00 and gave the company a "buy" rating in a research note on Monday, January 13th. JPMorgan Chase & Co. lowered their price objective on shares of Magnolia Oil & Gas from $28.00 to $24.00 and set a "neutral" rating for the company in a research report on Thursday. Finally, The Goldman Sachs Group downgraded Magnolia Oil & Gas from a "buy" rating to a "neutral" rating and reduced their price target for the company from $27.00 to $26.00 in a report on Friday, January 31st. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Magnolia Oil & Gas presently has an average rating of "Hold" and an average target price of $27.77.

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Magnolia Oil & Gas Stock Performance

Shares of NYSE MGY traded down $0.58 during midday trading on Thursday, hitting $22.51. 2,437,764 shares of the company's stock were exchanged, compared to its average volume of 2,228,525. Magnolia Oil & Gas Co. has a twelve month low of $21.63 and a twelve month high of $29.02. The firm has a market cap of $4.37 billion, a P/E ratio of 11.66, a PEG ratio of 3.01 and a beta of 1.90. The stock's 50 day moving average price is $24.15 and its 200-day moving average price is $25.08. 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 (NYSE:MGY - Get Free Report) last posted its quarterly earnings data on Tuesday, February 18th. The company reported $0.49 EPS for the quarter, topping analysts' consensus estimates of $0.46 by $0.03. The company 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%. Equities research analysts anticipate that Magnolia Oil & Gas Co. will post 2.1 EPS for the current year.

Magnolia Oil & Gas Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were given a $0.15 dividend. This is an increase from Magnolia Oil & Gas's previous quarterly dividend of $0.13. This represents a $0.60 annualized dividend and a dividend yield of 2.67%. The ex-dividend date was Friday, February 14th. Magnolia Oil & Gas's dividend payout ratio (DPR) is 31.09%.

Insider Buying and Selling at Magnolia Oil & Gas

In other news, CEO Christopher G. Stavros purchased 2,500 shares of the business's stock in a transaction dated Monday, March 3rd. The stock was bought at an average cost of $22.05 per share, with a total value of $55,125.00. Following the purchase, the chief executive officer now directly owns 892,372 shares of the company's stock, valued at approximately $19,676,802.60. This trade represents a 0.28 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.20% of the company's stock.

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.