Crestline Management LP Has $1.91 Million Stock Holdings in Magnolia Oil & Gas Co. (NYSE:MGY)

Crestline Management LP boosted its position in Magnolia Oil & Gas Co. (NYSE:MGY) by 363.9% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 81,495 shares of the company’s stock after purchasing an additional 63,929 shares during the period. Crestline Management LP’s holdings in Magnolia Oil & Gas were worth $1,905,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Cetera Investment Advisers raised its position in shares of Magnolia Oil & Gas by 26.4% in the fourth quarter. Cetera Investment Advisers now owns 10,852 shares of the company’s stock valued at $254,000 after purchasing an additional 2,265 shares during the period. BOKF NA lifted its position in Magnolia Oil & Gas by 3.9% during the fourth quarter. BOKF NA now owns 19,014 shares of the company’s stock worth $473,000 after acquiring an additional 713 shares during the last quarter. Bridgefront Capital LLC bought a new stake in shares of Magnolia Oil & Gas during the fourth quarter worth approximately $342,000. Captrust Financial Advisors grew its position in shares of Magnolia Oil & Gas by 25.4% in the fourth quarter. Captrust Financial Advisors now owns 61,119 shares of the company’s stock valued at $1,429,000 after purchasing an additional 12,388 shares during the last quarter. Finally, Caxton Associates LP bought a new position in shares of Magnolia Oil & Gas during the fourth quarter worth approximately $300,000. Institutional investors own 94.73% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on MGY shares. Bank of America reiterated a “neutral” rating and issued a $28.00 price target (down from $29.00) on shares of Magnolia Oil & Gas in a research note on Monday, January 13th. Citigroup cut their price objective on shares of 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. Johnson Rice lowered shares of Magnolia Oil & Gas from a “moderate buy” rating to a “hold” rating in a report on Tuesday, January 28th. Piper Sandler cut their price target on shares of Magnolia Oil & Gas from $26.00 to $25.00 and set a “neutral” rating for the company in a report on Tuesday, April 22nd. Finally, Truist Financial lifted their price objective on shares of Magnolia Oil & Gas from $33.00 to $34.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $27.21.

Magnolia Oil & Gas Trading Down 0.5 %

NYSE MGY opened at $20.70 on Thursday. The firm has a market capitalization of $4.02 billion, a PE ratio of 10.73, a price-to-earnings-growth ratio of 3.01 and a beta of 1.25. The business’s 50-day moving average price is $22.40 and its two-hundred day moving average price is $24.24. The company has a current ratio of 1.42, a quick ratio of 1.47 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 released its quarterly earnings results on Wednesday, April 30th. The company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.02. The firm had revenue of $350.30 million during the quarter, compared to analyst estimates of $337.83 million. Magnolia Oil & Gas had a net margin of 27.82% and a return on equity of 20.74%. The company’s revenue was up 9.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.46 EPS. On average, analysts expect that Magnolia Oil & Gas Co. will post 2.1 EPS for the current year.

Magnolia Oil & Gas Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Monday, May 12th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Monday, May 12th. This represents a $0.60 annualized dividend and a dividend yield of 2.90%. Magnolia Oil & Gas’s payout ratio is 29.85%.

Insider Buying and Selling

In related news, CEO Christopher G. Stavros acquired 2,500 shares of Magnolia Oil & Gas 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 transaction, the chief executive officer now directly owns 892,372 shares in the company, valued at $19,676,802.60. This represents a 0.28 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. 1.20% of the stock is currently owned by insiders.

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.