Mariner LLC Has $1.01 Million Stake in Magnolia Oil & Gas Co. (NYSE:MGY)

Mariner LLC lifted its holdings in shares of Magnolia Oil & Gas Co. (NYSE:MGY) by 1.8% during the fourth quarter, HoldingsChannel reports. The firm owned 43,229 shares of the company’s stock after acquiring an additional 762 shares during the quarter. Mariner LLC’s holdings in Magnolia Oil & Gas were worth $1,011,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Barclays PLC lifted its position in Magnolia Oil & Gas by 62.5% in the 3rd quarter. Barclays PLC now owns 1,653,736 shares of the company’s stock valued at $40,383,000 after acquiring an additional 636,049 shares in the last quarter. Tidal Investments LLC lifted its holdings in shares of Magnolia Oil & Gas by 21.9% in the third quarter. Tidal Investments LLC now owns 34,636 shares of the company’s stock valued at $846,000 after purchasing an additional 6,225 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Magnolia Oil & Gas by 10.1% during the third quarter. Principal Financial Group Inc. now owns 2,015,960 shares of the company’s stock worth $49,238,000 after buying an additional 184,793 shares during the period. Nordea Investment Management AB grew its holdings in shares of Magnolia Oil & Gas by 1.3% during the fourth quarter. Nordea Investment Management AB now owns 422,341 shares of the company’s stock worth $9,938,000 after buying an additional 5,455 shares in the last quarter. Finally, Oliver Luxxe Assets LLC raised its position in Magnolia Oil & Gas by 6.2% in the 4th quarter. Oliver Luxxe Assets LLC now owns 93,048 shares of the company’s stock valued at $2,175,000 after buying an additional 5,424 shares during the last quarter. Institutional investors own 94.73% of the company’s stock.

Insider Activity at Magnolia Oil & Gas

In other news, CEO Christopher G. Stavros bought 2,500 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was bought at an average price of $22.05 per share, with a total value 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 $19,676,802.60. This represents a 0.28 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 1.20% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. The Goldman Sachs Group cut shares of Magnolia Oil & Gas from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $27.00 to $26.00 in a research note on Friday, January 31st. JPMorgan Chase & Co. lowered their price target on shares of Magnolia Oil & Gas from $28.00 to $24.00 and set a “neutral” rating on the stock in a research note on Thursday, March 13th. Bank of America restated a “neutral” rating and set a $28.00 price objective (down from $29.00) on shares of Magnolia Oil & Gas in a research note on Monday, January 13th. Susquehanna lowered their target price on Magnolia Oil & Gas from $31.00 to $30.00 and set a “positive” rating on the stock in a research report on Tuesday, April 22nd. Finally, UBS Group assumed coverage on Magnolia Oil & Gas in a research report on Tuesday, April 22nd. They set a “buy” rating and a $26.00 price target for the company. Two investment 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $27.21.

Magnolia Oil & Gas Trading Down 0.7 %

MGY stock opened at $21.21 on Monday. The stock has a market cap of $4.12 billion, a price-to-earnings ratio of 10.99, a price-to-earnings-growth ratio of 3.01 and a beta of 1.57. The company has a fifty day moving average price of $22.85 and a two-hundred day moving average price of $24.51. Magnolia Oil & Gas Co. has a one year low of $19.09 and a one year high of $29.02. 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 (NYSE:MGY) last announced its quarterly earnings results on Tuesday, February 18th. The company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.03. The business had revenue of $326.61 million for the quarter, compared to analyst estimates of $327.40 million. Magnolia Oil & Gas had a net margin of 27.82% and a return on equity of 20.74%. Equities analysts anticipate that Magnolia Oil & Gas Co. will post 2.1 EPS for the current year.

Magnolia Oil & Gas Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.83%. This is a positive change from Magnolia Oil & Gas’s previous quarterly dividend of $0.13. Magnolia Oil & Gas’s dividend payout ratio (DPR) is 31.09%.

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.