New Age Alpha Advisors LLC Raises Holdings in Magnolia Oil & Gas Corp $MGY

New Age Alpha Advisors LLC increased its holdings in Magnolia Oil & Gas Corp (NYSE:MGY) by 415.9% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 28,072 shares of the company’s stock after acquiring an additional 22,631 shares during the period. New Age Alpha Advisors LLC’s holdings in Magnolia Oil & Gas were worth $614,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP grew its position in Magnolia Oil & Gas by 4.7% in the third quarter. Dimensional Fund Advisors LP now owns 6,369,713 shares of the company’s stock worth $152,051,000 after acquiring an additional 283,444 shares during the period. Wellington Management Group LLP grew its position in Magnolia Oil & Gas by 2.2% in the third quarter. Wellington Management Group LLP now owns 5,225,168 shares of the company’s stock worth $124,725,000 after acquiring an additional 113,458 shares during the period. TD Asset Management Inc grew its position in Magnolia Oil & Gas by 55.7% in the third quarter. TD Asset Management Inc now owns 4,478,361 shares of the company’s stock worth $106,898,000 after acquiring an additional 1,601,809 shares during the period. Boston Trust Walden Corp grew its position in Magnolia Oil & Gas by 5.7% in the fourth quarter. Boston Trust Walden Corp now owns 4,168,085 shares of the company’s stock worth $91,239,000 after acquiring an additional 225,349 shares during the period. Finally, Epoch Investment Partners Inc. grew its position in Magnolia Oil & Gas by 58.7% in the third quarter. Epoch Investment Partners Inc. now owns 4,138,626 shares of the company’s stock worth $98,789,000 after acquiring an additional 1,531,061 shares during the period. 94.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on MGY shares. Piper Sandler raised their price target on Magnolia Oil & Gas from $28.00 to $31.00 and gave the stock a “neutral” rating in a research report on Thursday, March 12th. Siebert Williams Shank lowered Magnolia Oil & Gas from a “buy” rating to a “hold” rating in a research report on Friday, March 6th. Citigroup lowered their price target on Magnolia Oil & Gas from $35.00 to $32.00 and set a “neutral” rating for the company in a research report on Monday, April 13th. Weiss Ratings lowered Magnolia Oil & Gas from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, May 21st. Finally, Roth Mkm restated a “neutral” rating and set a $32.00 price target (up from $29.00) on shares of Magnolia Oil & Gas in a research report on Wednesday, April 8th. Seven investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $31.42.

Magnolia Oil & Gas Trading Up 0.7%

NYSE:MGY opened at $27.77 on Friday. The firm has a market cap of $5.14 billion, a PE ratio of 16.14 and a beta of 0.75. The stock has a fifty day moving average price of $29.69 and a 200 day moving average price of $26.29. Magnolia Oil & Gas Corp has a 12-month low of $21.07 and a 12-month high of $32.76. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.19.

Magnolia Oil & Gas (NYSE:MGY) last released its earnings results on Wednesday, May 6th. The company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.03. The firm had revenue of $358.51 million during the quarter, compared to analyst estimates of $349.89 million. Magnolia Oil & Gas had a return on equity of 16.28% and a net margin of 24.40%.Magnolia Oil & Gas’s revenue was up 2.3% compared to the same quarter last year. During the same period last year, the business posted $0.54 earnings per share. Sell-side analysts anticipate that Magnolia Oil & Gas Corp will post 2.85 earnings per share for the current fiscal year.

Magnolia Oil & Gas Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Tuesday, May 12th will be issued a $0.165 dividend. The ex-dividend date is Tuesday, May 12th. This represents a $0.66 dividend on an annualized basis and a yield of 2.4%. Magnolia Oil & Gas’s dividend payout ratio (DPR) is 38.37%.

Insider Transactions at Magnolia Oil & Gas

In other Magnolia Oil & Gas news, Director Dan F. Smith sold 18,000 shares of Magnolia Oil & Gas stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $29.01, for a total transaction of $522,180.00. Following the completion of the sale, the director directly owned 119,204 shares of the company’s stock, valued at $3,458,108.04. The trade was a 13.12% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Edward P. Djerejian sold 18,000 shares of Magnolia Oil & Gas stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $28.98, for a total value of $521,640.00. Following the sale, the director directly owned 110,425 shares of the company’s stock, valued at $3,200,116.50. This trade represents a 14.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 338,954 shares of company stock valued at $9,911,733 in the last 90 days. Insiders own 0.92% of the company’s stock.

About Magnolia Oil & Gas

Magnolia Oil & Gas Corp (NYSE: MGY) is an independent exploration and production company focused on the acquisition, development and optimization of onshore oil and gas assets in South Texas. Headquartered in Houston, the company concentrates its efforts on the Eagle Ford Shale, where it holds significant working interests in key producing counties.

The company’s core operations center on horizontal drilling and multi-stage completions designed to extract light crude oil, natural gas and natural gas liquids (NGLs).