Fox Run Management L.L.C. Purchases New Shares in Magnolia Oil & Gas Co. (NYSE:MGY)

Fox Run Management L.L.C. acquired a new position in Magnolia Oil & Gas Co. (NYSE:MGY) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 26,165 shares of the company’s stock, valued at approximately $612,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. FMR LLC increased its position in shares of Magnolia Oil & Gas by 174.9% during the third quarter. FMR LLC now owns 34,851 shares of the company’s stock valued at $851,000 after acquiring an additional 22,171 shares during the last quarter. HighTower Advisors LLC purchased a new stake in shares of Magnolia Oil & Gas during the 3rd quarter valued at $353,000. Charles Schwab Investment Management Inc. raised its stake in shares of Magnolia Oil & Gas by 4.3% during 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 during the period. Intech Investment Management LLC purchased a new position in shares of Magnolia Oil & Gas in the 3rd quarter worth about $1,252,000. Finally, Ashton Thomas Private Wealth LLC bought a new position in Magnolia Oil & Gas during the fourth quarter valued at about $590,000. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Insider Buying and Selling at Magnolia Oil & Gas

In related news, CEO Christopher G. Stavros bought 2,500 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was bought at an average cost of $22.05 per share, for a total transaction of $55,125.00. Following the completion of the transaction, the chief executive officer now owns 892,372 shares of the company’s stock, valued at approximately $19,676,802.60. The trade was a 0.28 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.20% of the stock is currently owned by company insiders.

Magnolia Oil & Gas Price Performance

Shares of NYSE:MGY opened at $25.16 on Tuesday. Magnolia Oil & Gas Co. has a 12 month low of $21.63 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 stock has a market cap of $4.88 billion, a P/E ratio of 13.03, a P/E/G ratio of 3.01 and a beta of 1.90. The company has a 50 day moving average of $24.15 and a 200 day moving average of $25.03.

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

Magnolia Oil & Gas Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were issued a $0.15 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.60 annualized dividend and a dividend yield of 2.39%. This is a boost from Magnolia Oil & Gas’s previous quarterly dividend of $0.13. Magnolia Oil & Gas’s dividend payout ratio (DPR) is presently 31.09%.

Analyst Upgrades and Downgrades

Several brokerages have commented on MGY. JPMorgan Chase & Co. lowered their price objective on shares of Magnolia Oil & Gas from $28.00 to $24.00 and set a “neutral” rating on the stock in a research report on Thursday, March 13th. Williams Trading set a $29.00 price objective on Magnolia Oil & Gas in a report on Wednesday, March 5th. Johnson Rice lowered Magnolia Oil & Gas from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, January 28th. Mizuho increased their price target on Magnolia Oil & Gas from $27.00 to $28.00 and gave the stock a “neutral” rating in a research note on Monday, December 16th. Finally, Truist Financial boosted their price objective on Magnolia Oil & Gas from $33.00 to $34.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $27.77.

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.