New Age Alpha Advisors LLC Increases Holdings in Magnolia Oil & Gas Corp $MGY

New Age Alpha Advisors LLC raised its stake in Magnolia Oil & Gas Corp (NYSE:MGY) by 415.9% in the 4th quarter, HoldingsChannel.com reports. The fund owned 28,072 shares of the company’s stock after purchasing an additional 22,631 shares during the period. New Age Alpha Advisors LLC’s holdings in Magnolia Oil & Gas were worth $614,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Magnolia Oil & Gas Stock Performance

Shares of MGY stock opened at $27.77 on Friday. The stock has a market capitalization of $5.14 billion, a PE ratio of 16.14 and a beta of 0.75. Magnolia Oil & Gas Corp has a 52-week low of $21.07 and a 52-week high of $32.76. The stock’s 50-day moving average price is $29.69 and its 200 day moving average price is $26.29. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.19.

Magnolia Oil & Gas (NYSE:MGY) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.03. The firm had revenue of $358.51 million during the quarter, compared to analysts’ expectations of $349.89 million. Magnolia Oil & Gas had a net margin of 24.40% and a return on equity of 16.28%. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.54 earnings per share. As a group, equities research analysts forecast that Magnolia Oil & Gas Corp will post 2.85 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 1st. Shareholders of record on Tuesday, May 12th will be given a dividend of $0.165 per share. The ex-dividend date is Tuesday, May 12th. This represents a $0.66 annualized dividend and a yield of 2.4%. Magnolia Oil & Gas’s payout ratio is presently 38.37%.

Insider Activity at Magnolia Oil & Gas

In other Magnolia Oil & Gas news, CFO Brian Corales sold 33,000 shares of the business’s stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $29.12, for a total transaction of $960,960.00. Following the transaction, the chief financial officer owned 184,178 shares in the company, valued at approximately $5,363,263.36. The trade was a 15.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Christopher G. Stavros sold 119,954 shares of the business’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 value of $3,513,452.66. Following the transaction, the chief executive officer owned 883,592 shares in the company, valued at $25,880,409.68. The trade was a 11.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 338,954 shares of company stock worth $9,911,733 in the last three months. 0.92% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on MGY shares. Truist Financial boosted their target price on Magnolia Oil & Gas from $33.00 to $34.00 and gave the company a “hold” rating in a report on Monday, April 27th. KeyCorp boosted their target price on Magnolia Oil & Gas from $30.00 to $38.00 and gave the company an “overweight” rating in a report on Thursday, April 2nd. Citigroup reduced their target price on Magnolia Oil & Gas from $35.00 to $32.00 and set a “neutral” rating for the company in a report on Monday, April 13th. UBS Group boosted their target price on Magnolia Oil & Gas from $29.00 to $35.00 and gave the company a “buy” rating in a report on Thursday, March 5th. Finally, Zacks Research downgraded Magnolia Oil & Gas from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 19th. Seven equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $31.42.

Magnolia Oil & Gas Company 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).