Nicholas Investment Partners LP Has $3.29 Million Stock Position in Magnolia Oil & Gas Co. (NYSE:MGY)

Nicholas Investment Partners LP lifted its holdings in shares of Magnolia Oil & Gas Co. (NYSE:MGY) by 61.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 140,833 shares of the company’s stock after acquiring an additional 53,586 shares during the quarter. Nicholas Investment Partners LP owned approximately 0.07% of Magnolia Oil & Gas worth $3,293,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of MGY. Mariner LLC grew its position in shares of Magnolia Oil & Gas by 1.8% during 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. grew its position in Magnolia Oil & Gas by 4.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,076,541 shares of the company’s stock worth $48,550,000 after buying an additional 85,524 shares in the last quarter. Ashton Thomas Private Wealth LLC bought a new position in Magnolia Oil & Gas during the 4th quarter worth $590,000. Proficio Capital Partners LLC acquired a new position in Magnolia Oil & Gas in the 4th quarter valued at $292,000. Finally, Mitsubishi UFJ Asset Management UK Ltd. bought a new stake in shares of Magnolia Oil & Gas during the 4th quarter valued at $912,000. 94.73% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on MGY. Susquehanna dropped their target price on shares of Magnolia Oil & Gas from $31.00 to $30.00 and set a “positive” rating for the company in a research report on Tuesday, April 22nd. UBS Group began coverage on shares of Magnolia Oil & Gas in a research report on Tuesday, April 22nd. They set a “buy” rating and a $26.00 price objective for the company. Citigroup lowered their price target on Magnolia Oil & Gas from $22.00 to $19.00 and set a “sell” rating for the company in a report on Tuesday, April 8th. The Goldman Sachs Group downgraded Magnolia Oil & Gas from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $27.00 to $26.00 in a research note on Friday, January 31st. Finally, Williams Trading set a $29.00 price target on shares of Magnolia Oil & Gas in a research note on Wednesday, March 5th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $27.14.

Insider Buying and Selling

In other Magnolia Oil & Gas news, CEO Christopher G. Stavros bought 2,500 shares of the stock in a transaction on Monday, March 3rd. The stock was acquired at an average cost of $22.05 per share, for a total transaction of $55,125.00. Following the completion of the acquisition, the chief executive officer now owns 892,372 shares in the company, valued at $19,676,802.60. This trade represents a 0.28% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 1.20% of the stock is owned by insiders.

Magnolia Oil & Gas Stock Up 1.3%

Shares of NYSE:MGY opened at $23.31 on Wednesday. The business has a fifty day simple moving average of $22.39 and a 200 day simple moving average of $24.14. Magnolia Oil & Gas Co. has a 12-month low of $19.09 and a 12-month high of $29.02. The firm has a market cap of $4.53 billion, a P/E ratio of 12.08, a P/E/G ratio of 3.01 and a beta of 1.25. The company has a quick ratio of 1.47, a current ratio of 1.42 and a debt-to-equity ratio of 0.20.

Magnolia Oil & Gas (NYSE:MGY) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.02. The company had revenue of $350.30 million for the quarter, compared to analyst estimates of $337.83 million. Magnolia Oil & Gas had a return on equity of 20.74% and a net margin of 27.82%. The firm’s quarterly revenue was up 9.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.46 earnings per share. Analysts predict that Magnolia Oil & Gas Co. will post 2.1 earnings per share for the current year.

Magnolia Oil & Gas Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Monday, May 12th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 2.57%. The ex-dividend date of this dividend is Monday, May 12th. Magnolia Oil & Gas’s dividend payout ratio (DPR) is presently 29.85%.

About Magnolia Oil & Gas

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.