LPL Financial LLC Has $751,000 Stock Holdings in Magnolia Oil & Gas Co. (NYSE:MGY)

LPL Financial LLC lifted its stake in shares of Magnolia Oil & Gas Co. (NYSE:MGY) by 55.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 32,102 shares of the company’s stock after purchasing an additional 11,493 shares during the quarter. LPL Financial LLC’s holdings in Magnolia Oil & Gas were worth $751,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Fox Run Management L.L.C. acquired a new position in shares of Magnolia Oil & Gas in the 4th quarter valued at approximately $612,000. KLP Kapitalforvaltning AS bought a new position in shares of Magnolia Oil & Gas in the 4th quarter valued at $1,106,000. Semanteon Capital Management LP increased its stake in shares of Magnolia Oil & Gas by 33.7% in the 4th quarter. Semanteon Capital Management LP now owns 63,170 shares of the company’s stock valued at $1,477,000 after purchasing an additional 15,917 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in shares of Magnolia Oil & Gas by 1.4% during the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 40,783 shares of the company’s stock worth $954,000 after buying an additional 564 shares in the last quarter. Finally, Magnetar Financial LLC boosted its stake in Magnolia Oil & Gas by 857.5% in the fourth quarter. Magnetar Financial LLC now owns 184,323 shares of the company’s stock valued at $4,309,000 after buying an additional 165,073 shares in the last quarter. Institutional investors own 94.73% of the company’s stock.

Magnolia Oil & Gas Price Performance

Magnolia Oil & Gas stock opened at $20.78 on Wednesday. The firm has a market cap of $4.03 billion, a P/E ratio of 10.77, a P/E/G ratio of 3.01 and a beta of 1.57. The stock’s 50 day moving average is $23.01 and its 200 day moving average is $24.64. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.42 and a quick ratio of 1.47. Magnolia Oil & Gas Co. has a one year low of $19.09 and a one year high of $29.02.

Magnolia Oil & Gas (NYSE:MGY) last posted its quarterly earnings data on Tuesday, February 18th. The company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.03. Magnolia Oil & Gas had a net margin of 27.82% and a return on equity of 20.74%. The company had revenue of $326.61 million for the quarter, compared to analyst estimates of $327.40 million. As a group, research analysts expect that Magnolia Oil & Gas Co. will post 2.1 EPS for the current 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 dividend of $0.15 per share. This is an increase from Magnolia Oil & Gas’s previous quarterly dividend of $0.13. This represents a $0.60 dividend on an annualized basis and a yield of 2.89%. The ex-dividend date was Friday, February 14th. Magnolia Oil & Gas’s dividend payout ratio (DPR) is presently 31.09%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Citigroup dropped their target price on shares of Magnolia Oil & Gas from $22.00 to $19.00 and set a “sell” rating for the company in a report on Tuesday, April 8th. Piper Sandler dropped their price objective on shares of Magnolia Oil & Gas from $26.00 to $25.00 and set a “neutral” rating for the company in a research note on Tuesday. Williams Trading set a $29.00 target price on shares of Magnolia Oil & Gas in a research note on Wednesday, March 5th. Truist Financial increased their price target 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. Finally, Susquehanna reduced their price objective on Magnolia Oil & Gas from $31.00 to $30.00 and set a “positive” rating on the stock in a research report on Tuesday. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $27.21.

Insider Transactions at Magnolia Oil & Gas

In related news, CEO Christopher G. Stavros acquired 2,500 shares of the stock in a transaction dated Monday, March 3rd. The stock was bought at an average price of $22.05 per share, for a total transaction 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. The trade was a 0.28 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate 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.