Renaissance Technologies LLC Increases Stock Holdings in Magnolia Oil & Gas Co. (NYSE:MGY)

Renaissance Technologies LLC increased its holdings in shares of Magnolia Oil & Gas Co. (NYSE:MGY) by 910.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 541,400 shares of the company’s stock after buying 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.

Other hedge funds have also recently added to or reduced their stakes in the company. Albert D Mason Inc. increased its stake in Magnolia Oil & Gas by 0.7% during the fourth 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 during the last quarter. Isthmus Partners LLC raised its holdings in Magnolia Oil & Gas by 5.2% in the fourth quarter. Isthmus Partners LLC now owns 9,320 shares of the company’s stock valued at $218,000 after buying an additional 460 shares during the period. Avior Wealth Management LLC lifted its position in Magnolia Oil & Gas by 30.0% during the fourth quarter. Avior Wealth Management LLC now owns 2,194 shares of the company’s stock valued at $51,000 after buying an additional 506 shares in the last quarter. Mather Group LLC. lifted its position in Magnolia Oil & Gas by 100.0% during 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. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in Magnolia Oil & Gas by 1.4% during the fourth 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 during the period. 94.73% of the stock is owned by institutional investors and hedge funds.

Magnolia Oil & Gas Price Performance

Shares of MGY stock opened at $20.28 on Wednesday. The firm has a fifty day moving average of $23.26 and a two-hundred day moving average of $24.80. The firm has a market cap of $3.94 billion, a P/E ratio of 10.51, a P/E/G ratio of 3.01 and a beta of 1.57. Magnolia Oil & Gas Co. has a 1-year low of $19.09 and a 1-year high of $29.02. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.42 and a quick ratio of 1.47.

Magnolia Oil & Gas (NYSE:MGY) last posted its quarterly earnings results on Tuesday, February 18th. The company reported $0.49 EPS for the quarter, topping 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 business had revenue of $326.61 million during the quarter, compared to the consensus estimate of $327.40 million. As a group, research analysts anticipate that Magnolia Oil & Gas Co. will post 2.1 earnings per share for the current fiscal year.

Magnolia Oil & Gas Increases Dividend

The company also recently declared 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. This represents a $0.60 annualized dividend and a dividend yield of 2.96%. The ex-dividend date was Friday, February 14th. Magnolia Oil & Gas’s dividend payout ratio is currently 31.09%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on MGY. Williams Trading set a $29.00 target price on shares of Magnolia Oil & Gas in a report on Wednesday, March 5th. Citigroup reduced their price objective on Magnolia Oil & Gas from $22.00 to $19.00 and set a “sell” rating on the stock in a research note on Tuesday, April 8th. JPMorgan Chase & Co. lowered their target price 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. Truist Financial raised their target price on Magnolia Oil & Gas from $33.00 to $34.00 and gave the company a “buy” rating in a report on Monday, January 13th. Finally, Johnson Rice cut Magnolia Oil & Gas from a “moderate buy” rating to a “hold” rating in a report on Tuesday, January 28th. 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’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $27.54.

Insider Buying and Selling

In other Magnolia Oil & Gas news, CEO Christopher G. Stavros acquired 2,500 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were purchased at an average price of $22.05 per share, for a total transaction 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 acquisition was disclosed in a filing with the SEC, which is accessible through this link. 1.20% of the stock is currently owned by company insiders.

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.