Ashton Thomas Private Wealth LLC Makes New Investment in Magnolia Oil & Gas Co. (NYSE:MGY)

Ashton Thomas Private Wealth LLC bought a new position in shares of Magnolia Oil & Gas Co. (NYSE:MGY) during the 4th quarter, Holdings Channel reports. The fund bought 25,254 shares of the company’s stock, valued at approximately $590,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Raymond James Financial Inc. acquired a new stake in shares of Magnolia Oil & Gas in the fourth quarter valued at about $13,634,000. Arizona State Retirement System increased its holdings in Magnolia Oil & Gas by 4.8% in the fourth quarter. Arizona State Retirement System now owns 51,877 shares of the company’s stock valued at $1,213,000 after buying an additional 2,384 shares in the last quarter. Aigen Investment Management LP lifted its position in shares of Magnolia Oil & Gas by 266.5% during the 4th quarter. Aigen Investment Management LP now owns 46,919 shares of the company’s stock valued at $1,097,000 after acquiring an additional 34,117 shares during the period. Proficio Capital Partners LLC acquired a new stake in shares of Magnolia Oil & Gas during the 4th quarter valued at approximately $292,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Magnolia Oil & Gas by 4.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,076,541 shares of the company’s stock worth $48,550,000 after acquiring an additional 85,524 shares in the last quarter. 94.73% of the stock is owned by institutional investors and hedge funds.

Magnolia Oil & Gas Stock Performance

Shares of MGY opened at $23.63 on Tuesday. Magnolia Oil & Gas Co. has a 1 year low of $21.63 and a 1 year high of $29.02. The company’s 50 day simple moving average is $24.17 and its 200 day simple moving average is $25.11. The company has a market capitalization of $4.59 billion, a price-to-earnings ratio of 12.24, a PEG ratio of 3.01 and a beta of 1.90. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.47 and a current ratio of 1.42.

Magnolia Oil & Gas (NYSE:MGY) last issued its quarterly earnings results on Tuesday, February 18th. The company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.03. The company had revenue of $326.61 million for the quarter, compared to analyst estimates of $327.40 million. Magnolia Oil & Gas had a return on equity of 20.74% and a net margin of 27.82%. On average, sell-side analysts predict 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 paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 2.54%. This is a positive change from Magnolia Oil & Gas’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend was Friday, February 14th. Magnolia Oil & Gas’s dividend payout ratio (DPR) is presently 31.09%.

Analysts Set New Price Targets

Several research firms recently weighed in on MGY. Truist Financial raised their price objective 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. The Goldman Sachs Group cut Magnolia Oil & Gas from a “buy” rating to a “neutral” rating and dropped their price target for the company from $27.00 to $26.00 in a research report on Friday, January 31st. Johnson Rice lowered shares of Magnolia Oil & Gas from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, January 28th. Williams Trading set a $29.00 price objective on shares of Magnolia Oil & Gas in a research note on Wednesday, March 5th. Finally, Piper Sandler lifted their target price on shares of Magnolia Oil & Gas from $24.00 to $26.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Magnolia Oil & Gas presently has an average rating of “Hold” and an average price target of $27.69.

Insider Buying and Selling at Magnolia Oil & Gas

In related news, CEO Christopher G. Stavros bought 2,500 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were acquired at an average cost of $22.05 per share, with a total value of $55,125.00. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.20% of the stock is owned by company insiders.

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.