Voloridge Investment Management LLC Grows Stock Holdings in Magnolia Oil & Gas Co. (NYSE:MGY)

Voloridge Investment Management LLC raised its position in shares of Magnolia Oil & Gas Co. (NYSE:MGY) by 4.7% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 892,815 shares of the company’s stock after buying an additional 40,073 shares during the quarter. Voloridge Investment Management LLC owned about 0.45% of Magnolia Oil & Gas worth $20,874,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of MGY. Mariner LLC boosted its position in shares of Magnolia Oil & Gas by 1.8% in the 4th quarter. Mariner LLC now owns 43,229 shares of the company’s stock worth $1,011,000 after purchasing an additional 762 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Magnolia Oil & Gas by 4.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,076,541 shares of the company’s stock worth $48,550,000 after purchasing an additional 85,524 shares in the last quarter. Northern Trust Corp boosted its position in shares of Magnolia Oil & Gas by 7.3% in the 4th quarter. Northern Trust Corp now owns 1,936,398 shares of the company’s stock worth $45,273,000 after purchasing an additional 131,941 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Magnolia Oil & Gas in the 4th quarter worth $590,000. Finally, Proficio Capital Partners LLC acquired a new stake in shares of Magnolia Oil & Gas in the 4th quarter worth $292,000. 94.73% of the stock is owned by hedge funds and other institutional investors.

Magnolia Oil & Gas Trading Down 0.7%

Shares of Magnolia Oil & Gas stock opened at $21.73 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.42 and a quick ratio of 1.47. The firm has a fifty day moving average price of $22.29 and a 200 day moving average price of $24.00. Magnolia Oil & Gas Co. has a 1 year low of $19.09 and a 1 year high of $29.02. The stock has a market cap of $4.18 billion, a PE ratio of 11.26, a price-to-earnings-growth ratio of 3.01 and a beta of 1.25.

Magnolia Oil & Gas (NYSE:MGY) last issued its earnings results on Wednesday, April 30th. The company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.02. Magnolia Oil & Gas had a net margin of 27.82% and a return on equity of 20.74%. The firm had revenue of $350.30 million during the quarter, compared to analysts’ expectations of $337.83 million. During the same quarter last year, the company posted $0.46 earnings per share. The firm’s revenue was up 9.7% compared to the same quarter last year. Equities research analysts predict that Magnolia Oil & Gas Co. will post 2.1 earnings per share for the current year.

Magnolia Oil & Gas Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Monday, May 12th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date of this dividend is Monday, May 12th. Magnolia Oil & Gas’s payout ratio is presently 29.85%.

Insider Buying and Selling at Magnolia Oil & Gas

In other news, CEO Christopher G. Stavros bought 2,500 shares of the stock in a transaction dated 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 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 position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.20% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

MGY has been the subject of a number of recent analyst reports. 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 report on Thursday, March 13th. UBS Group started coverage on shares of Magnolia Oil & Gas in a research report on Tuesday, April 22nd. They set a “buy” rating and a $26.00 target price on the stock. Williams Trading set a $29.00 target price on shares of Magnolia Oil & Gas in a research report on Wednesday, March 5th. Piper Sandler dropped their target price on shares of Magnolia Oil & Gas from $25.00 to $24.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 13th. Finally, The Goldman Sachs Group downgraded shares of Magnolia Oil & Gas from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $27.00 to $26.00 in a research report on Friday, January 31st. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Magnolia Oil & Gas has a consensus rating of “Hold” and a consensus target price of $27.14.

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.