Northern Trust Corp Grows Stake in Magnolia Oil & Gas Co. (NYSE:MGY)

Northern Trust Corp grew its holdings in shares of Magnolia Oil & Gas Co. (NYSE:MGY) by 7.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,936,398 shares of the company’s stock after purchasing an additional 131,941 shares during the period. Northern Trust Corp owned approximately 0.99% of Magnolia Oil & Gas worth $45,273,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Barclays PLC raised its stake in Magnolia Oil & Gas by 62.5% in the third quarter. Barclays PLC now owns 1,653,736 shares of the company’s stock valued at $40,383,000 after buying an additional 636,049 shares during the last quarter. Tidal Investments LLC increased its holdings in shares of Magnolia Oil & Gas by 21.9% during the third quarter. Tidal Investments LLC now owns 34,636 shares of the company’s stock valued at $846,000 after acquiring an additional 6,225 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of 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 purchasing an additional 184,793 shares during the last quarter. Nordea Investment Management AB boosted its stake in Magnolia Oil & Gas by 1.3% in the 4th quarter. Nordea Investment Management AB now owns 422,341 shares of the company’s stock worth $9,938,000 after purchasing an additional 5,455 shares in the last quarter. Finally, Fulton Bank N.A. grew its position in Magnolia Oil & Gas by 10.9% during the 4th quarter. Fulton Bank N.A. now owns 11,534 shares of the company’s stock worth $270,000 after purchasing an additional 1,129 shares during the last quarter. Institutional investors and hedge funds own 94.73% of the company’s stock.

Magnolia Oil & Gas Price Performance

Shares of Magnolia Oil & Gas stock opened at $21.72 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.42 and a quick ratio of 1.47. The business has a 50 day simple moving average of $22.39 and a two-hundred day simple moving average of $24.21. The stock has a market capitalization of $4.22 billion, a P/E ratio of 11.25, a PEG ratio of 3.01 and a beta of 1.25. 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 data on Wednesday, April 30th. The company reported $0.55 earnings per share 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 for the quarter, compared to analyst estimates of $337.83 million. During the same quarter last year, the firm posted $0.46 EPS. The firm’s revenue for the quarter was up 9.7% on a year-over-year basis. As a group, analysts predict that Magnolia Oil & Gas Co. will post 2.1 EPS for the current fiscal year.

Magnolia Oil & Gas Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Monday, May 12th will be paid a dividend of $0.15 per share. The ex-dividend date is Monday, May 12th. This represents a $0.60 annualized dividend and a yield of 2.76%. Magnolia Oil & Gas’s dividend payout ratio is presently 29.85%.

Insider Buying and Selling at Magnolia Oil & Gas

In other Magnolia Oil & Gas news, CEO Christopher G. Stavros acquired 2,500 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were purchased at an average cost of $22.05 per share, for a total transaction of $55,125.00. Following the completion of the acquisition, the chief executive officer now owns 892,372 shares of the company’s stock, valued at approximately $19,676,802.60. The trade was a 0.28 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.20% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts have recently commented on MGY shares. Johnson Rice downgraded shares of Magnolia Oil & Gas from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, January 28th. UBS Group started coverage on Magnolia Oil & Gas in a research note on Tuesday, April 22nd. They set a “buy” rating and a $26.00 price target on the stock. Piper Sandler decreased their target price on Magnolia Oil & Gas from $26.00 to $25.00 and set a “neutral” rating for the company in a report on Tuesday, April 22nd. Susquehanna cut their price target on shares of Magnolia Oil & Gas from $31.00 to $30.00 and set a “positive” rating on the stock in a report on Tuesday, April 22nd. Finally, Citigroup reduced 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. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $27.21.

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.