Vanguard Group Inc. Purchases 452,836 Shares of Magnolia Oil & Gas Co. (NYSE:MGY)

Vanguard Group Inc. grew its holdings in Magnolia Oil & Gas Co. (NYSE:MGY - Free Report) by 2.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 20,938,200 shares of the company's stock after purchasing an additional 452,836 shares during the period. Vanguard Group Inc. owned approximately 10.65% of Magnolia Oil & Gas worth $489,535,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Mather Group LLC. boosted its stake in Magnolia Oil & Gas by 100.0% in the fourth quarter. Mather Group LLC. now owns 1,090 shares of the company's stock valued at $25,000 after buying an additional 545 shares in the last quarter. Larson Financial Group LLC boosted its stake in shares of Magnolia Oil & Gas by 112.3% in the 4th quarter. Larson Financial Group LLC now owns 1,072 shares of the company's stock valued at $25,000 after purchasing an additional 567 shares in the last quarter. R Squared Ltd acquired a new stake in shares of Magnolia Oil & Gas in the 4th quarter valued at approximately $43,000. Avior Wealth Management LLC grew its holdings in shares of Magnolia Oil & Gas by 30.0% during the 4th quarter. Avior Wealth Management LLC now owns 2,194 shares of the company's stock valued at $51,000 after purchasing an additional 506 shares during the last quarter. Finally, Smartleaf Asset Management LLC increased its position in Magnolia Oil & Gas by 95.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 3,777 shares of the company's stock worth $88,000 after purchasing an additional 1,844 shares in the last quarter. Institutional investors and hedge funds own 94.73% of the company's stock.

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Insider Buying and Selling

In related news, CEO Christopher G. Stavros bought 2,500 shares of the business's stock in a transaction that occurred 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 purchase, 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.20% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on MGY shares. 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 note on Wednesday, January 29th. Mizuho boosted their price objective on Magnolia Oil & Gas from $27.00 to $28.00 and gave the stock a "neutral" rating in a research report on Monday, December 16th. Truist Financial upped their target price on Magnolia Oil & Gas from $33.00 to $34.00 and gave the stock a "buy" rating in a report on Monday, January 13th. Bank of America reissued a "neutral" rating and set a $28.00 price target (down from $29.00) on shares of Magnolia Oil & Gas in a research note on Monday, January 13th. Finally, JPMorgan Chase & Co. lowered their price objective on Magnolia Oil & Gas from $28.00 to $24.00 and set a "neutral" rating for the company in a research note on Thursday, March 13th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $27.77.

Magnolia Oil & Gas Trading Down 8.5 %

Magnolia Oil & Gas stock traded down $2.18 during mid-day trading on Thursday, hitting $23.54. 3,137,188 shares of the stock were exchanged, compared to its average volume of 2,239,944. The firm's fifty day simple moving average is $24.03 and its two-hundred day simple moving average is $25.12. 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 Co. has a 12 month low of $21.63 and a 12 month high of $29.02. The stock has a market capitalization of $4.57 billion, a price-to-earnings ratio of 12.20, a PEG ratio of 3.01 and a beta of 1.57.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last released its earnings results on Tuesday, February 18th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.03. Magnolia Oil & Gas had a net margin of 27.82% and a return on equity of 20.74%. The business had revenue of $326.61 million for the quarter, compared to analyst estimates of $327.40 million. Analysts forecast that Magnolia Oil & Gas Co. will post 2.1 EPS for the current year.

Magnolia Oil & Gas Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were given a dividend of $0.15 per share. This is a positive change from Magnolia Oil & Gas's previous quarterly dividend of $0.13. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.60 annualized dividend and a dividend yield of 2.55%. Magnolia Oil & Gas's dividend payout ratio is presently 31.09%.

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.