Headlands Technologies LLC Takes $161,000 Position in Magnolia Oil & Gas Co. (NYSE:MGY)

Headlands Technologies LLC bought a new position in Magnolia Oil & Gas Co. (NYSE:MGY) in the 4th quarter, HoldingsChannel reports. The institutional investor bought 6,898 shares of the company’s stock, valued at approximately $161,000.

Several other large investors have also added to or reduced their stakes in MGY. Geode Capital Management LLC lifted its holdings in shares of Magnolia Oil & Gas by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 4,136,456 shares of the company’s stock worth $96,733,000 after buying an additional 28,687 shares in the last quarter. Wellington Management Group LLP lifted its stake in Magnolia Oil & Gas by 0.5% in the 4th quarter. Wellington Management Group LLP now owns 5,020,646 shares of the company’s stock worth $117,383,000 after purchasing an additional 26,943 shares in the last quarter. Brandywine Global Investment Management LLC boosted its holdings in Magnolia Oil & Gas by 25.6% in the 4th quarter. Brandywine Global Investment Management LLC now owns 585,752 shares of the company’s stock valued at $13,695,000 after purchasing an additional 119,240 shares during the period. Pictet Asset Management Holding SA grew its position in shares of Magnolia Oil & Gas by 10.3% during the 4th quarter. Pictet Asset Management Holding SA now owns 25,067 shares of the company’s stock valued at $586,000 after purchasing an additional 2,348 shares in the last quarter. Finally, New Age Alpha Advisors LLC bought a new position in shares of Magnolia Oil & Gas in the fourth quarter worth $258,000. Institutional investors own 94.73% of the company’s stock.

Magnolia Oil & Gas Stock Down 10.5 %

MGY opened at $21.05 on Friday. Magnolia Oil & Gas Co. has a 12 month low of $20.76 and a 12 month high of $29.02. The company has a current ratio of 1.42, a quick ratio of 1.47 and a debt-to-equity ratio of 0.20. The business’s 50-day moving average price is $23.90 and its 200-day moving average price is $25.09. The company has a market cap of $4.09 billion, a P/E ratio of 10.90, a P/E/G ratio of 3.01 and a beta of 1.57.

Magnolia Oil & Gas (NYSE:MGY) last announced 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. The business had revenue of $326.61 million for the quarter, compared to analysts’ expectations of $327.40 million. Magnolia Oil & Gas had a return on equity of 20.74% and a net margin of 27.82%. On average, equities analysts expect that Magnolia Oil & Gas Co. will post 2.1 EPS for the current 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 issued 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 dividend on an annualized basis and a yield of 2.85%. The ex-dividend date of this dividend was Friday, February 14th. Magnolia Oil & Gas’s dividend payout ratio is currently 31.09%.

Analyst Ratings Changes

Several equities analysts recently commented on MGY shares. The Goldman Sachs Group cut Magnolia Oil & Gas from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $27.00 to $26.00 in a research report on Friday, January 31st. Bank of America reissued 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. JPMorgan Chase & Co. lowered their target price on shares of Magnolia Oil & Gas from $28.00 to $24.00 and set a “neutral” rating on the stock in a research note on Thursday, March 13th. Williams Trading set a $29.00 target price on shares of Magnolia Oil & Gas in a research report on Wednesday, March 5th. Finally, Mizuho increased their price target on shares of Magnolia Oil & Gas from $27.00 to $28.00 and gave the stock a “neutral” rating in a report on Monday, December 16th. Two equities research 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. According to data from MarketBeat.com, Magnolia Oil & Gas has an average rating of “Hold” and an average target price of $27.77.

Insider Buying and Selling at Magnolia Oil & Gas

In other Magnolia Oil & Gas news, CEO Christopher G. Stavros purchased 2,500 shares of the stock in a transaction on Monday, March 3rd. The stock was acquired at an average price of $22.05 per share, with a total value of $55,125.00. Following the transaction, the chief executive officer now directly owns 892,372 shares of the company’s stock, valued at approximately $19,676,802.60. This trade represents a 0.28 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 1.20% of the stock is currently owned by corporate 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.