Magnolia Oil & Gas Co. (NYSE:MGY) Shares Bought by Renaissance Technologies LLC

Renaissance Technologies LLC boosted its position in shares of Magnolia Oil & Gas Co. (NYSE:MGY - Free Report) by 910.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 541,400 shares of the company's stock after purchasing an additional 487,820 shares during the quarter. Renaissance Technologies LLC owned about 0.28% of Magnolia Oil & Gas worth $12,658,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in MGY. Albert D Mason Inc. grew its stake in shares of Magnolia Oil & Gas by 0.7% during the 4th quarter. Albert D Mason Inc. now owns 61,497 shares of the company's stock worth $1,438,000 after acquiring an additional 411 shares in the last quarter. Isthmus Partners LLC increased its position in Magnolia Oil & Gas by 5.2% during the 4th quarter. Isthmus Partners LLC now owns 9,320 shares of the company's stock worth $218,000 after purchasing an additional 460 shares in the last quarter. Avior Wealth Management LLC grew its holdings in Magnolia Oil & Gas by 30.0% during the 4th quarter. Avior Wealth Management LLC now owns 2,194 shares of the company's stock worth $51,000 after acquiring an additional 506 shares during the last quarter. Mather Group LLC. raised its holdings in Magnolia Oil & Gas by 100.0% during the 4th quarter. Mather Group LLC. now owns 1,090 shares of the company's stock worth $25,000 after purchasing an additional 545 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in shares of Magnolia Oil & Gas by 1.4% during the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 40,783 shares of the company's stock worth $954,000 after buying an additional 564 shares in the last quarter. 94.73% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

MGY has been the subject of several recent research reports. Piper Sandler boosted their target price on shares of Magnolia Oil & Gas from $24.00 to $26.00 and gave the stock a "neutral" rating in a research report on Wednesday, January 29th. The Goldman Sachs Group lowered Magnolia Oil & Gas from a "buy" rating to a "neutral" rating and dropped their target price for the company from $27.00 to $26.00 in a report on Friday, January 31st. JPMorgan Chase & Co. dropped their price objective 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. Williams Trading set a $29.00 target price on shares of Magnolia Oil & Gas in a research note on Wednesday, March 5th. Finally, Bank of America restated a "neutral" rating and set a $28.00 price target (down from $29.00) on shares of Magnolia Oil & Gas in a report on Monday, January 13th. 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 company's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $27.54.

Magnolia Oil & Gas Price Performance

Magnolia Oil & Gas stock traded up $0.38 during mid-day trading on Friday, reaching $21.10. 2,208,986 shares of the company's stock traded hands, compared to its average volume of 2,291,607. Magnolia Oil & Gas Co. has a 12-month low of $19.09 and a 12-month high of $29.02. The company has a market cap of $4.10 billion, a price-to-earnings ratio of 10.93, a PEG ratio of 3.01 and a beta of 1.57. The stock has a 50 day moving average of $23.11 and a two-hundred day moving average of $24.72. The company has a quick ratio of 1.47, a current ratio of 1.42 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 for the quarter, beating analysts' consensus estimates of $0.46 by $0.03. The company had revenue of $326.61 million during the quarter, compared to analyst estimates of $327.40 million. Magnolia Oil & Gas had a net margin of 27.82% and a return on equity of 20.74%. Equities 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 disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were paid a $0.15 dividend. The ex-dividend date was Friday, February 14th. This represents a $0.60 annualized dividend and a yield of 2.84%. This is a boost from Magnolia Oil & Gas's previous quarterly dividend of $0.13. Magnolia Oil & Gas's dividend payout ratio is 31.09%.

Insiders Place Their Bets

In other Magnolia Oil & Gas news, CEO Christopher G. Stavros purchased 2,500 shares of the stock in a transaction dated Monday, March 3rd. The stock was purchased at an average price of $22.05 per share, with a total value of $55,125.00. Following the transaction, the chief executive officer now 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.20% of the stock is currently owned by company insiders.

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.