Royce & Associates LP Invests $527,000 in Magnolia Oil & Gas Corp $MGY

Royce & Associates LP bought a new position in shares of Magnolia Oil & Gas Corp (NYSE:MGY) in the fourth quarter, Holdings Channel reports. The institutional investor bought 24,090 shares of the company’s stock, valued at approximately $527,000.

Several other large investors also recently bought and sold shares of MGY. Salomon & Ludwin LLC grew its stake in Magnolia Oil & Gas by 130.1% during the 4th quarter. Salomon & Ludwin LLC now owns 1,344 shares of the company’s stock valued at $29,000 after acquiring an additional 760 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in Magnolia Oil & Gas by 165.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,386 shares of the company’s stock valued at $31,000 after acquiring an additional 864 shares in the last quarter. Torren Management LLC purchased a new stake in Magnolia Oil & Gas during the 4th quarter valued at about $38,000. First Horizon Corp grew its stake in Magnolia Oil & Gas by 159.8% during the 4th quarter. First Horizon Corp now owns 1,889 shares of the company’s stock valued at $41,000 after acquiring an additional 1,162 shares in the last quarter. Finally, Geneos Wealth Management Inc. grew its stake in Magnolia Oil & Gas by 90.5% during the 2nd quarter. Geneos Wealth Management Inc. now owns 2,212 shares of the company’s stock valued at $50,000 after acquiring an additional 1,051 shares in the last quarter. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on MGY shares. Roth Mkm reaffirmed a “neutral” rating and set a $32.00 price objective (up from $29.00) on shares of Magnolia Oil & Gas in a research note on Wednesday, April 8th. Siebert Williams Shank lowered shares of Magnolia Oil & Gas from a “buy” rating to a “hold” rating in a report on Friday, March 6th. Wells Fargo & Company decreased their target price on shares of Magnolia Oil & Gas from $32.00 to $31.00 and set an “equal weight” rating on the stock in a report on Wednesday, May 13th. KeyCorp boosted their target price on shares of Magnolia Oil & Gas from $30.00 to $38.00 and gave the company an “overweight” rating in a report on Thursday, April 2nd. Finally, Piper Sandler boosted their target price on shares of Magnolia Oil & Gas from $28.00 to $31.00 and gave the company a “neutral” rating in a report on Thursday, March 12th. Seven equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $31.42.

Insider Transactions at Magnolia Oil & Gas

In other news, CFO Brian Corales sold 33,000 shares of the company’s stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $29.12, for a total value of $960,960.00. Following the transaction, the chief financial officer directly owned 184,178 shares in the company, valued at approximately $5,363,263.36. This represents a 15.19% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Christopher G. Stavros sold 119,954 shares of the company’s stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $29.29, for a total transaction of $3,513,452.66. Following the completion of the transaction, the chief executive officer owned 883,592 shares in the company, valued at approximately $25,880,409.68. This represents a 11.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 338,954 shares of company stock worth $9,911,733. 0.92% of the stock is owned by company insiders.

Magnolia Oil & Gas Stock Performance

NYSE:MGY opened at $27.36 on Monday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.10 and a quick ratio of 1.10. The firm has a market capitalization of $5.06 billion, a price-to-earnings ratio of 15.91 and a beta of 0.71. The company’s 50-day moving average is $29.64 and its two-hundred day moving average is $26.32. Magnolia Oil & Gas Corp has a 1-year low of $21.07 and a 1-year high of $32.76.

Magnolia Oil & Gas (NYSE:MGY) last posted its earnings results on Wednesday, May 6th. The company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.03. Magnolia Oil & Gas had a net margin of 24.40% and a return on equity of 16.28%. The company had revenue of $358.51 million for the quarter, compared to analyst estimates of $349.89 million. During the same period in the previous year, the business posted $0.54 EPS. Magnolia Oil & Gas’s revenue was up 2.3% on a year-over-year basis. Analysts forecast that Magnolia Oil & Gas Corp will post 2.85 EPS for the current year.

Magnolia Oil & Gas Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Tuesday, May 12th will be issued a $0.165 dividend. This represents a $0.66 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Tuesday, May 12th. Magnolia Oil & Gas’s dividend payout ratio is currently 38.37%.

Magnolia Oil & Gas Profile

Magnolia Oil & Gas Corp (NYSE: MGY) is an independent exploration and production company focused on the acquisition, development and optimization of onshore oil and gas assets in South Texas. Headquartered in Houston, the company concentrates its efforts on the Eagle Ford Shale, where it holds significant working interests in key producing counties.

The company’s core operations center on horizontal drilling and multi-stage completions designed to extract light crude oil, natural gas and natural gas liquids (NGLs).