Wellington Management Group LLP Acquires 26,943 Shares of Magnolia Oil & Gas Co. (NYSE:MGY)

Wellington Management Group LLP boosted its holdings in Magnolia Oil & Gas Co. (NYSE:MGY - Free Report) by 0.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,020,646 shares of the company's stock after acquiring an additional 26,943 shares during the quarter. Wellington Management Group LLP owned 2.59% of Magnolia Oil & Gas worth $117,383,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in MGY. Vanguard Group Inc. lifted its holdings in shares of Magnolia Oil & Gas by 2.2% during the fourth quarter. Vanguard Group Inc. now owns 20,938,200 shares of the company's stock valued at $489,535,000 after acquiring an additional 452,836 shares during the period. State Street Corp increased its position 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 purchasing an additional 435,326 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Magnolia Oil & Gas by 2.9% during the 3rd quarter. Geode Capital Management LLC now owns 4,107,769 shares of the company's stock valued at $100,332,000 after purchasing an additional 116,431 shares during the last quarter. Boston Trust Walden Corp lifted its holdings in Magnolia Oil & Gas by 9.5% during the 4th quarter. Boston Trust Walden Corp now owns 3,090,587 shares of the company's stock valued at $72,258,000 after purchasing an additional 267,461 shares during the last quarter. Finally, Systematic Financial Management LP boosted its position in Magnolia Oil & Gas by 7.5% in the third quarter. Systematic Financial Management LP now owns 2,920,018 shares of the company's stock valued at $71,307,000 after buying an additional 203,514 shares in the last quarter. Institutional investors and hedge funds own 94.73% of the company's stock.

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Magnolia Oil & Gas Trading Down 1.5 %

NYSE MGY traded down $0.32 during trading hours on Tuesday, hitting $20.24. The company's stock had a trading volume of 588,206 shares, compared to its average volume of 2,737,895. The stock has a fifty day moving average of $23.81 and a 200 day moving average of $25.05. 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 twelve month low of $19.89 and a twelve month high of $29.02. The firm has a market capitalization of $3.93 billion, a P/E ratio of 10.50, a PEG ratio of 3.01 and a beta of 1.57.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last posted its quarterly earnings results 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. Magnolia Oil & Gas had a return on equity of 20.74% and a net margin of 27.82%. The company had revenue of $326.61 million for the quarter, compared to the consensus estimate of $327.40 million. Equities research analysts forecast that Magnolia Oil & Gas Co. will post 2.1 earnings per share for the current fiscal year.

Magnolia Oil & Gas Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders 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. This represents a $0.60 annualized dividend and a dividend yield of 2.96%. The ex-dividend date of this dividend was Friday, February 14th. Magnolia Oil & Gas's payout ratio is presently 31.09%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on MGY. Bank of America reaffirmed a "neutral" rating and set a $28.00 price objective (down previously from $29.00) on shares of Magnolia Oil & Gas in a report on Monday, January 13th. Mizuho raised their price target on Magnolia Oil & Gas from $27.00 to $28.00 and gave the company a "neutral" rating in a report on Monday, December 16th. Johnson Rice lowered Magnolia Oil & Gas from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, January 28th. The Goldman Sachs Group lowered Magnolia Oil & Gas from a "buy" rating to a "neutral" rating and lowered their target price for the company from $27.00 to $26.00 in a research note on Friday, January 31st. Finally, JPMorgan Chase & Co. cut their price target on Magnolia Oil & Gas from $28.00 to $24.00 and set a "neutral" rating for the company in a report on Thursday, March 13th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $27.77.

Insider Activity

In other news, CEO Christopher G. Stavros purchased 2,500 shares of Magnolia Oil & Gas stock in a transaction dated Monday, March 3rd. The shares were bought at an average cost of $22.05 per share, with a total value of $55,125.00. Following the completion of the transaction, the chief executive officer now directly owns 892,372 shares in the company, valued at $19,676,802.60. This trade represents a 0.28 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.20% of the stock is currently owned by company insiders.

Magnolia Oil & Gas 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.