Aigen Investment Management LP Purchases 34,117 Shares of Magnolia Oil & Gas Co. (NYSE:MGY)

Aigen Investment Management LP raised its position in Magnolia Oil & Gas Co. (NYSE:MGY) by 266.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 46,919 shares of the company’s stock after buying an additional 34,117 shares during the period. Aigen Investment Management LP’s holdings in Magnolia Oil & Gas were worth $1,097,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of MGY. Wealth Enhancement Advisory Services LLC boosted its position in Magnolia Oil & Gas by 6.6% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 14,364 shares of the company’s stock valued at $351,000 after buying an additional 889 shares during the last quarter. Nisa Investment Advisors LLC boosted its position in Magnolia Oil & Gas by 43.6% in the 3rd quarter. Nisa Investment Advisors LLC now owns 4,094 shares of the company’s stock valued at $100,000 after buying an additional 1,244 shares during the last quarter. New York State Teachers Retirement System boosted its position in Magnolia Oil & Gas by 41.5% in the 3rd quarter. New York State Teachers Retirement System now owns 64,537 shares of the company’s stock valued at $1,576,000 after buying an additional 18,937 shares during the last quarter. Harbor Capital Advisors Inc. bought a new position in Magnolia Oil & Gas in the 3rd quarter valued at $25,000. Finally, Principal Financial Group Inc. boosted its position in Magnolia Oil & Gas by 10.1% in the 3rd quarter. Principal Financial Group Inc. now owns 2,015,960 shares of the company’s stock valued at $49,238,000 after buying an additional 184,793 shares during the last quarter. 94.73% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Magnolia Oil & Gas

In other news, CEO Christopher G. Stavros purchased 2,500 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were purchased at an average price of $22.05 per share, with a total value of $55,125.00. Following the purchase, the chief executive officer now directly owns 892,372 shares of the company’s stock, valued at $19,676,802.60. This trade represents a 0.28 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 1.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on MGY shares. Mizuho raised their price target on Magnolia Oil & Gas from $27.00 to $28.00 and gave the stock a “neutral” rating in a research report on Monday, December 16th. Piper Sandler raised 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. Johnson Rice lowered Magnolia Oil & Gas from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, January 28th. Truist Financial raised their price target on Magnolia Oil & Gas from $33.00 to $34.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Finally, The Goldman Sachs Group lowered Magnolia Oil & Gas from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $27.00 to $26.00 in a research report on Friday, January 31st. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $27.58.

Magnolia Oil & Gas Stock Performance

Shares of Magnolia Oil & Gas stock opened at $22.58 on Thursday. The company has a market capitalization of $4.38 billion, a PE ratio of 11.70, a PEG ratio of 3.01 and a beta of 1.90. 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’s fifty day simple moving average is $24.18 and its 200 day simple moving average is $25.16.

Magnolia Oil & Gas (NYSE:MGY) last released its quarterly earnings results on Tuesday, February 18th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.03. Magnolia Oil & Gas had a return on equity of 20.74% and a net margin of 27.82%. The firm had revenue of $326.61 million for the quarter, compared to the consensus estimate of $327.40 million. On average, research analysts predict 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. Shareholders of record on Friday, February 14th were paid a $0.15 dividend. This is an increase from Magnolia Oil & Gas’s previous quarterly dividend of $0.13. The ex-dividend date was Friday, February 14th. This represents a $0.60 annualized dividend and a dividend yield of 2.66%. Magnolia Oil & Gas’s dividend payout ratio (DPR) is currently 31.09%.

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.