Geode Capital Management LLC Has $96.73 Million Holdings in Magnolia Oil & Gas Co. (NYSE:MGY)

Geode Capital Management LLC increased its position in Magnolia Oil & Gas Co. (NYSE:MGY) by 0.7% in the fourth quarter, HoldingsChannel reports. The firm owned 4,136,456 shares of the company’s stock after acquiring an additional 28,687 shares during the period. Geode Capital Management LLC’s holdings in Magnolia Oil & Gas were worth $96,733,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MGY. Barclays PLC lifted its holdings in shares of Magnolia Oil & Gas by 62.5% in the third quarter. Barclays PLC now owns 1,653,736 shares of the company’s stock valued at $40,383,000 after purchasing an additional 636,049 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Magnolia Oil & Gas during the fourth quarter valued at $13,634,000. Vanguard Group Inc. raised its position in 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 buying an additional 452,836 shares during the period. Vest Financial LLC lifted its stake in Magnolia Oil & Gas by 39.0% in the 4th quarter. Vest Financial LLC now owns 1,521,004 shares of the company’s stock worth $35,561,000 after acquiring an additional 426,572 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its position in Magnolia Oil & Gas by 14.5% during the 4th quarter. Principal Financial Group Inc. now owns 2,308,825 shares of the company’s stock worth $53,983,000 after acquiring an additional 292,865 shares during the period. 94.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Williams Trading set a $29.00 target price on Magnolia Oil & Gas in a report on Wednesday, March 5th. Truist Financial upped their price objective on shares of Magnolia Oil & Gas from $33.00 to $34.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Bank of America reissued a “neutral” rating and set a $28.00 target price (down previously from $29.00) on shares of Magnolia Oil & Gas in a research note on Monday, January 13th. Citigroup dropped their price target on shares of Magnolia Oil & Gas from $22.00 to $19.00 and set a “sell” rating on the stock in a research note on Tuesday. Finally, JPMorgan Chase & Co. reduced 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. Two analysts have rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Magnolia Oil & Gas has a consensus rating of “Hold” and an average target price of $27.54.

Magnolia Oil & Gas Trading Down 9.4 %

Magnolia Oil & Gas stock opened at $20.04 on Friday. The business’s 50-day simple moving average is $23.45 and its 200-day simple moving average is $24.88. Magnolia Oil & Gas Co. has a 52 week low of $19.09 and a 52 week high of $29.02. The firm has a market capitalization of $3.89 billion, a PE ratio of 10.38, a PEG ratio of 3.01 and a beta of 1.57. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.47 and a current ratio of 1.42.

Magnolia Oil & Gas (NYSE:MGY) last posted its quarterly earnings data on Tuesday, February 18th. The company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.03. The company had revenue of $326.61 million for the quarter, compared to the consensus estimate of $327.40 million. Magnolia Oil & Gas had a net margin of 27.82% and a return on equity of 20.74%. Equities research analysts forecast that Magnolia Oil & Gas Co. will post 2.1 earnings per share for the current year.

Magnolia Oil & Gas Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 2.99%. The ex-dividend date of this dividend was Friday, February 14th. This is a positive change from Magnolia Oil & Gas’s previous quarterly dividend of $0.13. Magnolia Oil & Gas’s dividend payout ratio is 31.09%.

Insiders Place Their Bets

In related news, CEO Christopher G. Stavros acquired 2,500 shares of the company’s stock in a transaction on Monday, March 3rd. The stock was purchased at an average cost 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 of the company’s stock, valued at $19,676,802.60. The trade was a 0.28 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.20% of the company’s stock.

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.