Allspring Global Investments Holdings LLC Grows Position in Magnolia Oil & Gas Co. (NYSE:MGY)

Allspring Global Investments Holdings LLC lifted its position in shares of Magnolia Oil & Gas Co. (NYSE:MGY) by 4.7% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 3,184,107 shares of the company’s stock after purchasing an additional 142,717 shares during the quarter. Allspring Global Investments Holdings LLC owned about 1.56% of Magnolia Oil & Gas worth $82,628,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MGY. Mather Group LLC. purchased a new stake in Magnolia Oil & Gas during the first quarter worth approximately $27,000. Private Wealth Management Group LLC acquired a new position in shares of Magnolia Oil & Gas during the 4th quarter valued at $33,000. VisionPoint Advisory Group LLC boosted its position in Magnolia Oil & Gas by 112.3% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 1,537 shares of the company’s stock worth $35,000 after purchasing an additional 813 shares during the period. Quadrant Capital Group LLC increased its holdings in Magnolia Oil & Gas by 40.4% in the 4th quarter. Quadrant Capital Group LLC now owns 4,623 shares of the company’s stock valued at $98,000 after purchasing an additional 1,331 shares in the last quarter. Finally, Arlington Trust Co LLC purchased a new position in Magnolia Oil & Gas in the fourth quarter valued at about $113,000. Institutional investors and hedge funds own 94.73% of the company’s stock.

Magnolia Oil & Gas Trading Up 2.1 %

Shares of MGY stock traded up $0.53 on Tuesday, reaching $25.99. 134,468 shares of the stock were exchanged, compared to its average volume of 2,867,253. 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 Co. has a one year low of $19.16 and a one year high of $27.33. The stock has a market cap of $5.27 billion, a PE ratio of 12.67, a P/E/G ratio of 1.42 and a beta of 2.02. The stock has a 50 day moving average price of $25.22 and a 200 day moving average price of $23.58.

Magnolia Oil & Gas (NYSE:MGY) last announced its quarterly earnings data on Tuesday, May 7th. The company reported $0.49 earnings per share for the quarter, beating 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 net margin of 30.46% and a return on equity of 20.41%. Equities research analysts forecast that Magnolia Oil & Gas Co. will post 2.25 EPS for the current fiscal year.

Magnolia Oil & Gas Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Monday, May 13th were issued a dividend of $0.13 per share. The ex-dividend date was Friday, May 10th. This represents a $0.52 annualized dividend and a yield of 2.00%. Magnolia Oil & Gas’s dividend payout ratio is presently 25.87%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Capital One Financial assumed coverage on Magnolia Oil & Gas in a research report on Tuesday, June 11th. They issued an “overweight” rating and a $28.00 target price for the company. Susquehanna increased their price objective on shares of Magnolia Oil & Gas from $28.00 to $31.00 and gave the company a “positive” rating in a research report on Monday, April 22nd. Mizuho lifted their price objective on shares of Magnolia Oil & Gas from $26.00 to $28.00 and gave the company a “neutral” rating in a research note on Monday, May 13th. Citigroup upped their target price on shares of Magnolia Oil & Gas from $18.00 to $22.00 and gave the company a “sell” rating in a research note on Monday, April 15th. Finally, The Goldman Sachs Group raised their price target on shares of Magnolia Oil & Gas from $24.50 to $28.00 and gave the company a “buy” rating in a report on Tuesday, March 26th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $28.11.

Insider Buying and Selling at Magnolia Oil & Gas

In other news, Director John B. Walker sold 12,000,000 shares of the company’s stock in a transaction that occurred 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 transaction, the director now owns 4,164,961 shares in the company, valued at $106,539,702.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.40% of the company’s stock.

Magnolia Oil & Gas Profile

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.