Schonfeld Strategic Advisors LLC Invests $4.56 Million in Magnolia Oil & Gas Co. (NYSE:MGY)

Schonfeld Strategic Advisors LLC bought a new stake in Magnolia Oil & Gas Co. (NYSE:MGY) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 195,070 shares of the company’s stock, valued at approximately $4,561,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Larson Financial Group LLC boosted its position in shares of Magnolia Oil & Gas by 112.3% in the fourth quarter. Larson Financial Group LLC now owns 1,072 shares of the company’s stock valued at $25,000 after acquiring an additional 567 shares during the period. Mather Group LLC. boosted its holdings in Magnolia Oil & Gas by 100.0% in the 4th quarter. Mather Group LLC. now owns 1,090 shares of the company’s stock valued at $25,000 after purchasing an additional 545 shares during the period. R Squared Ltd acquired a new stake in Magnolia Oil & Gas in the 4th quarter worth $43,000. Quarry LP increased its holdings in shares of Magnolia Oil & Gas by 1,047.8% during the 4th quarter. Quarry LP now owns 2,135 shares of the company’s stock worth $50,000 after purchasing an additional 1,949 shares during the period. Finally, Avior Wealth Management LLC raised its position in shares of Magnolia Oil & Gas by 30.0% during the fourth quarter. Avior Wealth Management LLC now owns 2,194 shares of the company’s stock valued at $51,000 after buying an additional 506 shares during the last quarter. Institutional investors and hedge funds own 94.73% of the company’s stock.

Magnolia Oil & Gas Stock Up 1.1 %

Shares of Magnolia Oil & Gas stock opened at $21.32 on Friday. The business has a fifty day simple moving average of $22.57 and a 200 day simple moving average of $24.35. The stock has a market cap of $4.14 billion, a PE ratio of 11.05, a price-to-earnings-growth ratio of 3.01 and a beta of 1.57. The company has a quick ratio of 1.47, a current ratio of 1.42 and a debt-to-equity ratio of 0.20. Magnolia Oil & Gas Co. has a 12 month low of $19.09 and a 12 month high of $29.02.

Magnolia Oil & Gas (NYSE:MGY) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.02. Magnolia Oil & Gas had a return on equity of 20.74% and a net margin of 27.82%. The company had revenue of $350.30 million during the quarter, compared to analysts’ expectations of $337.83 million. During the same period in the prior year, the business posted $0.46 EPS. Magnolia Oil & Gas’s revenue was up 9.7% on a year-over-year basis. Research analysts predict that Magnolia Oil & Gas Co. will post 2.1 EPS for the current year.

Magnolia Oil & Gas Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Monday, May 12th will be given a dividend of $0.15 per share. The ex-dividend date is Monday, May 12th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.81%. Magnolia Oil & Gas’s dividend payout ratio is 31.09%.

Insider Activity

In other Magnolia Oil & Gas news, CEO Christopher G. Stavros bought 2,500 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was acquired at an average cost of $22.05 per share, with a total value of $55,125.00. Following the purchase, the chief executive officer now owns 892,372 shares in the company, valued at $19,676,802.60. This trade represents a 0.28 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

MGY has been the subject of several recent research reports. Truist Financial upped their price target on Magnolia Oil & Gas from $33.00 to $34.00 and gave the company a “buy” rating in a report on Monday, January 13th. Citigroup reduced their target price on Magnolia Oil & Gas from $22.00 to $19.00 and set a “sell” rating for the company in a research report on Tuesday, April 8th. Bank of America reissued a “neutral” rating and issued a $28.00 price target (down previously from $29.00) on shares of Magnolia Oil & Gas in a report on Monday, January 13th. Susquehanna dropped their price objective on shares of Magnolia Oil & Gas from $31.00 to $30.00 and set a “positive” rating for the company in a research note on Tuesday, April 22nd. Finally, Piper Sandler decreased their target price on shares of Magnolia Oil & Gas from $26.00 to $25.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 22nd. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $27.21.

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.