Soros Fund Management LLC Purchases Shares of 742,000 Magnolia Oil & Gas Co. (NYSE:MGY)

Soros Fund Management LLC bought a new stake in shares of Magnolia Oil & Gas Co. (NYSE:MGY - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 742,000 shares of the company's stock, valued at approximately $18,120,000. Soros Fund Management LLC owned about 0.38% of Magnolia Oil & Gas at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Tidal Investments LLC acquired a new stake in shares of Magnolia Oil & Gas during the first quarter valued at approximately $566,000. GAMMA Investing LLC lifted its holdings in shares of Magnolia Oil & Gas by 184.4% in the second quarter. GAMMA Investing LLC now owns 1,607 shares of the company's stock valued at $41,000 after purchasing an additional 1,042 shares in the last quarter. Opal Wealth Advisors LLC acquired a new stake in shares of Magnolia Oil & Gas in the second quarter worth $26,000. SG Americas Securities LLC grew its holdings in shares of Magnolia Oil & Gas by 406.1% during the second quarter. SG Americas Securities LLC now owns 31,430 shares of the company's stock valued at $796,000 after buying an additional 25,220 shares in the last quarter. Finally, Blue Trust Inc. acquired a new position in Magnolia Oil & Gas during the second quarter valued at $437,000. 94.73% of the stock is currently owned by institutional investors.

Magnolia Oil & Gas Stock Performance

Magnolia Oil & Gas stock traded down $1.00 during trading hours on Friday, reaching $25.65. 306,899 shares of the company were exchanged, compared to its average volume of 2,441,397. Magnolia Oil & Gas Co. has a 12 month low of $19.16 and a 12 month high of $29.02. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.20. The stock has a 50-day moving average of $26.55 and a 200 day moving average of $25.62. The firm has a market cap of $5.04 billion, a price-to-earnings ratio of 13.19, a PEG ratio of 1.40 and a beta of 1.99.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last posted its earnings results on Wednesday, October 30th. The company reported $0.52 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.48 by $0.04. The business had revenue of $333.14 million for the quarter, compared to analyst estimates of $331.45 million. Magnolia Oil & Gas had a net margin of 28.88% and a return on equity of 20.78%. As a group, research analysts anticipate that Magnolia Oil & Gas Co. will post 1.99 earnings per share for the current year.

Magnolia Oil & Gas Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Friday, November 8th were given a dividend of $0.13 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $0.52 annualized dividend and a dividend yield of 2.03%. Magnolia Oil & Gas's dividend payout ratio is presently 25.74%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on MGY. Benchmark restated a "hold" rating on shares of Magnolia Oil & Gas in a research report on Tuesday, October 15th. JPMorgan Chase & Co. lowered their price objective on shares of Magnolia Oil & Gas from $26.00 to $23.00 and set a "neutral" rating on the stock in a research report on Thursday, September 12th. Mizuho cut their target price on shares of Magnolia Oil & Gas from $28.00 to $27.00 and set a "neutral" rating for the company in a research report on Monday, September 16th. Susquehanna decreased their target price on shares of Magnolia Oil & Gas from $33.00 to $32.00 and set a "positive" rating for the company in a research note on Wednesday, September 4th. Finally, Wells Fargo & Company downgraded shares of Magnolia Oil & Gas from an "equal weight" rating to an "underweight" rating and dropped their price target for the stock from $26.00 to $22.00 in a research note on Tuesday, October 1st. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Magnolia Oil & Gas currently has an average rating of "Hold" and an average target price of $27.67.

Insider Activity at Magnolia Oil & Gas

In other news, Director Ltd. Enervest sold 7,000,000 shares of the company's stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $25.86, for a total transaction of $181,020,000.00. Following the completion of the transaction, the director now owns 2,099,403 shares of the company's stock, valued at approximately $54,290,561.58. This represents a 76.93 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.20% of the stock is owned by corporate insiders.

Magnolia Oil & Gas Profile

Magnolia Oil & Gas Corporation, an independent oil and natural gas company, engages in the acquisition, development, exploration, and production of oil, natural gas, and natural gas liquids reserves in the United States. Its properties are located primarily in Karnes County and the Giddings area in South Texas principally comprising the Eagle Ford Shale and the Austin Chalk formation.