Brandywine Global Investment Management LLC Raises Position in Magnolia Oil & Gas Co. (NYSE:MGY)

Brandywine Global Investment Management LLC raised its holdings in shares of Magnolia Oil & Gas Co. (NYSE:MGY) by 25.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 585,752 shares of the company’s stock after buying an additional 119,240 shares during the quarter. Brandywine Global Investment Management LLC owned about 0.30% of Magnolia Oil & Gas worth $13,695,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Soros Fund Management LLC purchased a new position in shares of Magnolia Oil & Gas during the third quarter worth about $18,120,000. Barclays PLC lifted its position in Magnolia Oil & Gas by 62.5% during the third quarter. Barclays PLC now owns 1,653,736 shares of the company’s stock valued at $40,383,000 after purchasing an additional 636,049 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Magnolia Oil & Gas during the fourth quarter valued at approximately $13,634,000. Vanguard Group Inc. grew its stake in Magnolia Oil & Gas by 2.2% in the 4th quarter. Vanguard Group Inc. now owns 20,938,200 shares of the company’s stock worth $489,535,000 after buying an additional 452,836 shares in the last quarter. Finally, State Street Corp increased its holdings in shares of Magnolia Oil & Gas by 4.2% in the 3rd quarter. State Street Corp now owns 10,700,257 shares of the company’s stock worth $261,300,000 after buying an additional 435,326 shares during the last quarter. 94.73% of the stock is currently owned by institutional investors.

Insider Transactions at Magnolia Oil & Gas

In related news, CEO Christopher G. Stavros bought 2,500 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was purchased at an average cost of $22.05 per share, with a total value of $55,125.00. Following the transaction, the chief executive officer now owns 892,372 shares in the company, valued at approximately $19,676,802.60. This trade represents a 0.28 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.20% of the company’s stock.

Analyst Ratings Changes

MGY has been the subject of several research reports. Piper Sandler upped 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. Bank of America reiterated a “neutral” rating and issued a $28.00 price objective (down from $29.00) on shares of Magnolia Oil & Gas in a report on Monday, January 13th. Mizuho raised their price objective on Magnolia Oil & Gas from $27.00 to $28.00 and gave the company a “neutral” rating in a report on Monday, December 16th. Johnson Rice lowered Magnolia Oil & Gas from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, January 28th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Magnolia Oil & Gas from $28.00 to $24.00 and set a “neutral” rating on the stock in a research report on Thursday, March 13th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $27.77.

Magnolia Oil & Gas Trading Down 0.5 %

NYSE:MGY opened at $25.21 on Monday. The firm has a market capitalization of $4.89 billion, a P/E ratio of 13.06, a P/E/G ratio of 3.01 and a beta of 1.90. The company has a quick ratio of 1.47, a current ratio of 1.42 and a debt-to-equity ratio of 0.20. The company has a fifty day moving average of $24.08 and a 200 day moving average of $25.09. Magnolia Oil & Gas Co. has a 52 week low of $21.63 and a 52 week high of $29.02.

Magnolia Oil & Gas (NYSE:MGY) last released its quarterly earnings data on Tuesday, February 18th. The company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.03. The firm had revenue of $326.61 million for the quarter, compared to analysts’ expectations of $327.40 million. Magnolia Oil & Gas had a net margin of 27.82% and a return on equity of 20.74%. On average, research analysts predict that Magnolia Oil & Gas Co. will post 2.1 earnings per share for the current year.

Magnolia Oil & Gas Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were issued a $0.15 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.60 annualized dividend and a yield of 2.38%. This is a boost from Magnolia Oil & Gas’s previous quarterly dividend of $0.13. Magnolia Oil & Gas’s dividend payout ratio (DPR) is 31.09%.

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.