Unison Advisors LLC Purchases New Shares in Magnolia Oil & Gas Corp $MGY

Unison Advisors LLC acquired a new stake in Magnolia Oil & Gas Corp (NYSE:MGY) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 31,215 shares of the company’s stock, valued at approximately $683,000.

A number of other large investors have also modified their holdings of the company. GAMMA Investing LLC grew its position in shares of Magnolia Oil & Gas by 8.0% during the 4th quarter. GAMMA Investing LLC now owns 6,130 shares of the company’s stock valued at $134,000 after acquiring an additional 453 shares during the period. Coldstream Capital Management Inc. raised its holdings in Magnolia Oil & Gas by 3.1% in the 3rd quarter. Coldstream Capital Management Inc. now owns 15,937 shares of the company’s stock worth $380,000 after purchasing an additional 482 shares during the period. Farther Finance Advisors LLC raised its holdings in Magnolia Oil & Gas by 13.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 4,284 shares of the company’s stock worth $102,000 after purchasing an additional 500 shares during the period. Amalgamated Bank boosted its position in Magnolia Oil & Gas by 1.0% during the third quarter. Amalgamated Bank now owns 53,307 shares of the company’s stock worth $1,272,000 after purchasing an additional 552 shares in the last quarter. Finally, Lazard Asset Management LLC boosted its position in Magnolia Oil & Gas by 0.4% during the second quarter. Lazard Asset Management LLC now owns 167,071 shares of the company’s stock worth $3,755,000 after purchasing an additional 671 shares in the last quarter. Institutional investors and hedge funds own 94.73% of the company’s stock.

Magnolia Oil & Gas Stock Performance

NYSE:MGY opened at $31.03 on Monday. The company has a market cap of $5.78 billion, a P/E ratio of 18.04, a P/E/G ratio of 2.18 and a beta of 0.83. Magnolia Oil & Gas Corp has a twelve month low of $19.09 and a twelve month high of $32.76. The company’s 50-day moving average price is $28.26 and its 200-day moving average price is $24.76. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 0.20.

Magnolia Oil & Gas (NYSE:MGY) last announced its quarterly earnings data on Thursday, February 5th. The company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.01. The company had revenue of $317.63 million during the quarter, compared to analysts’ expectations of $322.18 million. Magnolia Oil & Gas had a net margin of 24.79% and a return on equity of 16.67%. Magnolia Oil & Gas’s revenue was down 2.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.44 EPS. On average, sell-side analysts forecast that Magnolia Oil & Gas Corp will post 2.1 earnings per share for the current fiscal year.

Magnolia Oil & Gas Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 2nd. Stockholders of record on Tuesday, February 10th were issued a dividend of $0.165 per share. The ex-dividend date was Tuesday, February 10th. This represents a $0.66 annualized dividend and a dividend yield of 2.1%. This is an increase from Magnolia Oil & Gas’s previous quarterly dividend of $0.15. Magnolia Oil & Gas’s payout ratio is presently 38.37%.

Analyst Upgrades and Downgrades

MGY has been the subject of a number of recent analyst reports. Truist Financial started coverage on Magnolia Oil & Gas in a research report on Tuesday, March 24th. They issued a “hold” rating and a $33.00 price objective for the company. Bank of America upgraded Magnolia Oil & Gas from a “neutral” rating to a “buy” rating and increased their target price for the company from $26.00 to $28.00 in a research report on Friday, January 16th. Siebert Williams Shank cut shares of Magnolia Oil & Gas from a “buy” rating to a “hold” rating in a research note on Friday, March 6th. The Goldman Sachs Group boosted their price target on shares of Magnolia Oil & Gas from $23.00 to $26.00 and gave the stock a “neutral” rating in a report on Wednesday, February 11th. Finally, Piper Sandler upped their price objective on shares of Magnolia Oil & Gas from $28.00 to $31.00 and gave the stock a “neutral” rating in a research report on Thursday, March 12th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $30.55.

Insiders Place Their Bets

In related news, CEO Christopher G. Stavros sold 119,954 shares of the 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 completion of the sale, the chief executive officer owned 883,592 shares of the company’s stock, valued at approximately $25,880,409.68. This trade represents a 11.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Timothy D. Yang sold 150,000 shares of Magnolia Oil & Gas 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 $4,393,500.00. Following the transaction, the executive vice president owned 526,661 shares in the company, valued at approximately $15,425,900.69. The trade was a 22.17% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 338,954 shares of company stock valued at $9,911,733. Insiders own 1.20% of the company’s stock.

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).