ProShare Advisors LLC Grows Position in Magnolia Oil & Gas Co. (NYSE:MGY)

ProShare Advisors LLC raised its position in Magnolia Oil & Gas Co. (NYSE:MGY) by 44.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 52,547 shares of the company’s stock after purchasing an additional 16,120 shares during the quarter. ProShare Advisors LLC’s holdings in Magnolia Oil & Gas were worth $1,229,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Isthmus Partners LLC raised its holdings in shares of Magnolia Oil & Gas by 5.2% in the 4th quarter. Isthmus Partners LLC now owns 9,320 shares of the company’s stock worth $218,000 after purchasing an additional 460 shares during the period. OneDigital Investment Advisors LLC raised its holdings in shares of Magnolia Oil & Gas by 3.0% in the 4th quarter. OneDigital Investment Advisors LLC now owns 15,768 shares of the company’s stock worth $369,000 after purchasing an additional 464 shares during the period. Avior Wealth Management LLC raised its holdings in shares of Magnolia Oil & Gas by 30.0% in the 4th quarter. Avior Wealth Management LLC now owns 2,194 shares of the company’s stock worth $51,000 after purchasing an additional 506 shares during the period. Mather Group LLC. raised its holdings in shares of Magnolia Oil & Gas by 100.0% in the 4th quarter. Mather Group LLC. now owns 1,090 shares of the company’s stock worth $25,000 after purchasing an additional 545 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in shares of Magnolia Oil & Gas by 1.4% during the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 40,783 shares of the company’s stock valued at $954,000 after buying an additional 564 shares during the period. 94.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Christopher G. Stavros purchased 2,500 shares of the stock in a transaction dated Monday, March 3rd. The stock was acquired at an average cost of $22.05 per share, for a total transaction of $55,125.00. Following the acquisition, the chief executive officer now owns 892,372 shares of the company’s stock, valued at $19,676,802.60. The trade was a 0.28% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 1.20% of the company’s stock.

Magnolia Oil & Gas Price Performance

MGY stock opened at $21.73 on Friday. The company has a quick ratio of 1.47, a current ratio of 1.42 and a debt-to-equity ratio of 0.20. Magnolia Oil & Gas Co. has a 52-week low of $19.09 and a 52-week high of $29.02. The stock’s 50 day moving average is $22.29 and its two-hundred day moving average is $24.00. The company has a market capitalization of $4.18 billion, a PE ratio of 11.26, a P/E/G ratio of 3.01 and a beta of 1.25.

Magnolia Oil & Gas (NYSE:MGY) last posted its quarterly earnings data 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. 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 the consensus estimate of $337.83 million. During the same period in the previous year, the business earned $0.46 EPS. Magnolia Oil & Gas’s revenue for the quarter was up 9.7% compared to the same quarter last year. Analysts predict that Magnolia Oil & Gas Co. will post 2.1 earnings per share for the current fiscal year.

Magnolia Oil & Gas Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Monday, May 12th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Monday, May 12th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.76%. Magnolia Oil & Gas’s dividend payout ratio (DPR) is 29.85%.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. UBS Group assumed coverage on Magnolia Oil & Gas in a report on Tuesday, April 22nd. They set a “buy” rating and a $26.00 target price on the stock. Piper Sandler dropped their target price on Magnolia Oil & Gas from $25.00 to $24.00 and set a “neutral” rating on the stock in a report on Tuesday, May 13th. Johnson Rice downgraded Magnolia Oil & Gas from a “moderate buy” rating to a “hold” rating in a report on Tuesday, January 28th. Susquehanna dropped their target price on 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, Williams Trading set a $29.00 target price on Magnolia Oil & Gas in a report on Wednesday, March 5th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $27.14.

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.