Bryce Point Capital LLC Takes $1.18 Million Position in Magnolia Oil & Gas Co. (NYSE:MGY)

Bryce Point Capital LLC purchased a new stake in Magnolia Oil & Gas Co. (NYSE:MGY) during the fourth quarter, Holdings Channel reports. The institutional investor purchased 50,595 shares of the company’s stock, valued at approximately $1,183,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Soros Fund Management LLC acquired a new stake in shares of Magnolia Oil & Gas in the third quarter valued at about $18,120,000. Barclays PLC boosted its holdings in Magnolia Oil & Gas by 62.5% in the 3rd quarter. Barclays PLC now owns 1,653,736 shares of the company’s stock worth $40,383,000 after buying an additional 636,049 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Magnolia Oil & Gas during the 4th quarter worth approximately $13,634,000. Vanguard Group Inc. raised its holdings in shares of 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 acquiring an additional 452,836 shares during the last quarter. Finally, State Street Corp lifted its position in shares of Magnolia Oil & Gas by 4.2% in the third quarter. State Street Corp now owns 10,700,257 shares of the company’s stock valued at $261,300,000 after acquiring an additional 435,326 shares in the last quarter. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Piper Sandler boosted their price target on Magnolia Oil & Gas from $24.00 to $26.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Bank of America reiterated a “neutral” rating and issued a $28.00 target price (down from $29.00) on shares of Magnolia Oil & Gas in a research report on Monday, January 13th. Truist Financial boosted their price target on shares of Magnolia Oil & Gas from $33.00 to $34.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Mizuho increased their price objective on shares of Magnolia Oil & Gas from $27.00 to $28.00 and gave the company a “neutral” rating in a report on Monday, December 16th. Finally, Williams Trading set a $29.00 target price on shares of Magnolia Oil & Gas in a research note on Wednesday, March 5th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Magnolia Oil & Gas currently has a consensus rating of “Hold” and an average price target of $27.77.

Magnolia Oil & Gas Stock Up 0.9 %

MGY stock opened at $25.74 on Thursday. The firm has a market cap of $5.00 billion, a PE ratio of 13.34, a PEG ratio of 3.01 and a beta of 1.57. Magnolia Oil & Gas Co. has a one year low of $21.63 and a one year high of $29.02. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.47 and a current ratio of 1.42. The firm’s 50 day moving average price is $24.03 and its 200-day moving average price is $25.12.

Magnolia Oil & Gas (NYSE:MGY) last announced its quarterly earnings results on Tuesday, February 18th. The company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.46 by $0.03. The business had revenue of $326.61 million for the quarter, compared to analyst estimates 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 research analysts anticipate that Magnolia Oil & Gas Co. will post 2.1 EPS for the current year.

Magnolia Oil & Gas Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 2.33%. 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 (DPR) is 31.09%.

Insider Buying and Selling at Magnolia Oil & Gas

In related news, CEO Christopher G. Stavros acquired 2,500 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was purchased 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 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 acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 1.20% of the company’s stock.

Magnolia Oil & Gas 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.