Pinebridge Investments L.P. Raises Stock Holdings in Magnolia Oil & Gas Co. (NYSE:MGY)

Pinebridge Investments L.P. boosted its stake in shares of Magnolia Oil & Gas Co. (NYSE:MGYFree Report) by 69.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 37,064 shares of the company’s stock after buying an additional 15,252 shares during the quarter. Pinebridge Investments L.P.’s holdings in Magnolia Oil & Gas were worth $789,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Private Wealth Management Group LLC purchased a new position in shares of Magnolia Oil & Gas during the 4th quarter worth approximately $33,000. VisionPoint Advisory Group LLC lifted its stake in Magnolia Oil & Gas by 112.3% during the third quarter. VisionPoint Advisory Group LLC now owns 1,537 shares of the company’s stock worth $35,000 after purchasing an additional 813 shares in the last quarter. Quadrant Capital Group LLC boosted its position in shares of Magnolia Oil & Gas by 40.4% during the fourth quarter. Quadrant Capital Group LLC now owns 4,623 shares of the company’s stock worth $98,000 after buying an additional 1,331 shares during the period. Arlington Trust Co LLC acquired a new stake in shares of Magnolia Oil & Gas in the fourth quarter valued at $113,000. Finally, Signaturefd LLC raised its holdings in shares of Magnolia Oil & Gas by 11.9% in the 4th quarter. Signaturefd LLC now owns 9,313 shares of the company’s stock valued at $198,000 after buying an additional 988 shares during the period. 94.73% of the stock is currently owned by institutional investors and hedge funds.

Magnolia Oil & Gas Stock Down 0.5 %

Magnolia Oil & Gas stock opened at $24.25 on Friday. The stock’s fifty day moving average is $25.69 and its two-hundred day moving average is $23.15. The stock has a market cap of $4.92 billion, a PE ratio of 12.06, a P/E/G ratio of 1.36 and a beta of 2.00. Magnolia Oil & Gas Co. has a 1-year low of $19.16 and a 1-year high of $27.33. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.71 and a quick ratio of 1.71.

Magnolia Oil & Gas (NYSE:MGYGet Free Report) last issued its earnings results on Tuesday, May 7th. The company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.05. The business had revenue of $319.42 million for the quarter, compared to analyst estimates of $308.21 million. Magnolia Oil & Gas had a return on equity of 20.41% and a net margin of 30.46%. On average, sell-side analysts expect that Magnolia Oil & Gas Co. will post 2.25 EPS for the current fiscal year.

Magnolia Oil & Gas Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Monday, May 13th were issued a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 2.14%. The ex-dividend date was Friday, May 10th. Magnolia Oil & Gas’s payout ratio is 25.87%.

Insider Activity at Magnolia Oil & Gas

In related news, Director John B. Walker sold 12,000,000 shares of the business’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $25.58, for a total value of $306,960,000.00. Following the completion of the sale, the director now directly owns 4,164,961 shares of the company’s stock, valued at $106,539,702.38. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 1.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on MGY. Susquehanna raised their target price on Magnolia Oil & Gas from $28.00 to $31.00 and gave the company a “positive” rating in a report on Monday, April 22nd. Mizuho upped their target price on shares of Magnolia Oil & Gas from $26.00 to $28.00 and gave the stock a “neutral” rating in a research note on Monday, May 13th. Bank of America started coverage on shares of Magnolia Oil & Gas in a research report on Tuesday, February 27th. They issued a “buy” rating and a $25.00 price target for the company. Benchmark reaffirmed a “hold” rating on shares of Magnolia Oil & Gas in a research report on Tuesday, April 23rd. Finally, The Goldman Sachs Group lifted their target price on Magnolia Oil & Gas from $24.50 to $28.00 and gave the company a “buy” rating in a report on Tuesday, March 26th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Magnolia Oil & Gas presently has an average rating of “Hold” and an average price target of $28.13.

Read Our Latest Research Report on Magnolia Oil & Gas

About Magnolia Oil & Gas

(Free Report)

Magnolia Oil & Gas Corporation, an independent oil and natural gas company, engages in the acquisition, development, exploration, and production of oil, natural gas, and natural gas liquids reserves in the United States. Its properties are located primarily in Karnes County and the Giddings area in South Texas principally comprising the Eagle Ford Shale and the Austin Chalk formation.

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Institutional Ownership by Quarter for Magnolia Oil & Gas (NYSE:MGY)

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