Raymond James Financial Inc. Invests $13.63 Million in Magnolia Oil & Gas Co. (NYSE:MGY)

Raymond James Financial Inc. acquired a new stake in shares of Magnolia Oil & Gas Co. (NYSE:MGY - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 583,156 shares of the company's stock, valued at approximately $13,634,000. Raymond James Financial Inc. owned approximately 0.30% of Magnolia Oil & Gas as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Atria Investments Inc boosted its stake in Magnolia Oil & Gas by 2.3% during the 3rd quarter. Atria Investments Inc now owns 23,576 shares of the company's stock valued at $576,000 after purchasing an additional 523 shares during the last quarter. OneDigital Investment Advisors LLC boosted its stake in Magnolia Oil & Gas by 6.5% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 15,304 shares of the company's stock valued at $374,000 after purchasing an additional 933 shares during the last quarter. Natixis Advisors LLC boosted its stake in Magnolia Oil & Gas by 3.5% during the 3rd quarter. Natixis Advisors LLC now owns 96,936 shares of the company's stock valued at $2,367,000 after purchasing an additional 3,238 shares during the last quarter. Pathstone Holdings LLC boosted its stake in Magnolia Oil & Gas by 17.0% during the 3rd quarter. Pathstone Holdings LLC now owns 197,289 shares of the company's stock valued at $4,818,000 after purchasing an additional 28,677 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in Magnolia Oil & Gas by 1.0% during the 3rd quarter. PNC Financial Services Group Inc. now owns 52,834 shares of the company's stock valued at $1,290,000 after purchasing an additional 548 shares during the last quarter. Institutional investors own 94.73% of the company's stock.

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Insider Buying and Selling at Magnolia Oil & Gas

In other Magnolia Oil & Gas news, CEO Christopher G. Stavros purchased 2,500 shares of the firm's stock in a transaction on Monday, March 3rd. The shares were acquired at an average cost of $22.05 per share, with a total value of $55,125.00. Following the completion of the acquisition, the chief executive officer now directly owns 892,372 shares in the company, 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 legal filing with the SEC, which is available through the SEC website. Insiders own 1.40% of the company's stock.

Magnolia Oil & Gas Stock Performance

NYSE MGY traded down $0.30 on Friday, hitting $25.03. 24,733,823 shares of the company traded hands, compared to its average volume of 2,164,647. 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 business's 50 day moving average price is $24.16 and its 200-day moving average price is $25.02. The company has a market capitalization of $4.86 billion, a price-to-earnings ratio of 12.97, a P/E/G ratio of 3.01 and a beta of 1.90. 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 posted its quarterly earnings results on Tuesday, February 18th. The company reported $0.49 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 analysts' expectations of $327.40 million. Magnolia Oil & Gas had a return on equity of 20.74% and a net margin of 27.82%. Equities analysts expect that Magnolia Oil & Gas Co. will post 2.1 earnings per share for the current year.

Magnolia Oil & Gas Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were issued a dividend of $0.15 per share. The ex-dividend date was Friday, February 14th. This is a boost from Magnolia Oil & Gas's previous quarterly dividend of $0.13. This represents a $0.60 dividend on an annualized basis and a yield of 2.40%. Magnolia Oil & Gas's dividend payout ratio (DPR) is currently 31.09%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Johnson Rice downgraded Magnolia Oil & Gas from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, January 28th. Truist Financial raised their price target on Magnolia Oil & Gas from $33.00 to $34.00 and gave the stock a "buy" rating in a research note on Monday, January 13th. JPMorgan Chase & Co. dropped their price target 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. The Goldman Sachs Group downgraded Magnolia Oil & Gas from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $27.00 to $26.00 in a research note on Friday, January 31st. Finally, Williams Trading set a $29.00 price target on Magnolia Oil & Gas in a research note on Wednesday, March 5th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Magnolia Oil & Gas presently has an average rating of "Hold" and an average target price of $27.77.

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.