Connor Clark & Lunn Investment Management Ltd. Has $13.81 Million Stock Position in Magnolia Oil & Gas Co. (NYSE:MGY)

Connor Clark & Lunn Investment Management Ltd. boosted its position in Magnolia Oil & Gas Co. (NYSE:MGY) by 62.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 590,641 shares of the company’s stock after acquiring an additional 226,277 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.30% of Magnolia Oil & Gas worth $13,809,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. First Horizon Advisors Inc. lifted its holdings in shares of Magnolia Oil & Gas by 64.7% in the 3rd quarter. First Horizon Advisors Inc. now owns 1,008 shares of the company’s stock worth $25,000 after purchasing an additional 396 shares in the last quarter. Mather Group LLC. raised its holdings in Magnolia Oil & Gas by 100.0% during the fourth quarter. Mather Group LLC. now owns 1,090 shares of the company’s stock worth $25,000 after buying an additional 545 shares during the last quarter. Larson Financial Group LLC lifted its stake in shares of Magnolia Oil & Gas by 112.3% in the fourth quarter. Larson Financial Group LLC now owns 1,072 shares of the company’s stock valued at $25,000 after buying an additional 567 shares in the last quarter. R Squared Ltd acquired a new position in shares of Magnolia Oil & Gas during the fourth quarter valued at about $43,000. Finally, Avior Wealth Management LLC increased its position in shares of Magnolia Oil & Gas by 30.0% during the fourth quarter. Avior Wealth Management LLC now owns 2,194 shares of the company’s stock worth $51,000 after acquiring an additional 506 shares in the last quarter. Institutional investors and hedge funds own 94.73% of the company’s stock.

Analysts Set New Price Targets

MGY has been the topic of several recent research reports. Piper Sandler raised their price target on shares of Magnolia Oil & Gas from $24.00 to $26.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Bank of America restated a “neutral” rating and issued a $28.00 target price (down previously from $29.00) on shares of Magnolia Oil & Gas in a report on Monday, January 13th. Williams Trading set a $29.00 price target on Magnolia Oil & Gas in a research report on Wednesday, March 5th. Truist Financial raised their price objective on Magnolia Oil & Gas from $33.00 to $34.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Finally, The Goldman Sachs Group lowered shares of Magnolia Oil & Gas from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $27.00 to $26.00 in a research note on Friday, January 31st. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $27.77.

Insider Buying and Selling at Magnolia Oil & Gas

In other Magnolia Oil & Gas news, CEO Christopher G. Stavros bought 2,500 shares of Magnolia Oil & Gas stock in a transaction dated Monday, March 3rd. The stock was purchased at an average price of $22.05 per share, for a total transaction of $55,125.00. Following the completion of the purchase, the chief executive officer now directly owns 892,372 shares of the company’s stock, valued at approximately $19,676,802.60. This trade represents a 0.28 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.20% of the company’s stock.

Magnolia Oil & Gas Stock Down 2.5 %

Magnolia Oil & Gas stock opened at $22.51 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. The company has a market capitalization of $4.37 billion, a P/E ratio of 11.66, a P/E/G ratio of 3.01 and a beta of 1.90. The firm has a 50 day moving average price of $24.13 and a 200-day moving average price of $25.06. Magnolia Oil & Gas Co. has a twelve month low of $21.63 and a twelve month high of $29.02.

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

Magnolia Oil & Gas Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were paid a $0.15 dividend. This is a boost from Magnolia Oil & Gas’s previous quarterly dividend of $0.13. This represents a $0.60 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date was Friday, February 14th. Magnolia Oil & Gas’s payout ratio is currently 31.09%.

Magnolia Oil & Gas Company 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.