25,254 Shares in Magnolia Oil & Gas Co. (NYSE:MGY) Acquired by Ashton Thomas Private Wealth LLC

Ashton Thomas Private Wealth LLC bought a new stake in Magnolia Oil & Gas Co. (NYSE:MGY) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 25,254 shares of the company’s stock, valued at approximately $590,000.

A number of other institutional investors also recently added to or reduced their stakes in the company. First Horizon Advisors Inc. increased its position 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 valued at $25,000 after purchasing an additional 396 shares during the last quarter. Mather Group LLC. grew its stake in shares of 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 purchasing an additional 545 shares in the last quarter. R Squared Ltd purchased a new position in Magnolia Oil & Gas in the fourth quarter valued at $43,000. Avior Wealth Management LLC raised its stake in Magnolia Oil & Gas by 30.0% in the fourth quarter. Avior Wealth Management LLC now owns 2,194 shares of the company’s stock valued at $51,000 after buying an additional 506 shares in the last quarter. Finally, Covestor Ltd lifted its holdings in Magnolia Oil & Gas by 36.8% during the 3rd quarter. Covestor Ltd now owns 2,986 shares of the company’s stock worth $73,000 after buying an additional 804 shares during the last quarter. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Insider Buying and Selling

In other news, CEO Christopher G. Stavros purchased 2,500 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were acquired at an average cost 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 in the company, valued at $19,676,802.60. The trade was a 0.28 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on MGY. Johnson Rice downgraded Magnolia Oil & Gas from a “moderate buy” rating to a “hold” rating in a report on Tuesday, January 28th. Piper Sandler increased 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 note on Wednesday, January 29th. Truist Financial raised their price objective on shares of Magnolia Oil & Gas from $33.00 to $34.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Williams Trading set a $29.00 target price on shares of Magnolia Oil & Gas in a report on Wednesday, March 5th. Finally, Mizuho lifted their price target on shares of Magnolia Oil & Gas from $27.00 to $28.00 and gave the stock a “neutral” rating in a research note on Monday, December 16th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $27.69.

Magnolia Oil & Gas Trading Up 1.6 %

NYSE MGY opened at $23.63 on Tuesday. The firm’s fifty day moving average is $24.17 and its two-hundred day moving average is $25.11. Magnolia Oil & Gas Co. has a one year low of $21.63 and a one year high of $29.02. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.47 and a current ratio of 1.42. The firm has a market cap of $4.59 billion, a PE ratio of 12.24, a P/E/G ratio of 3.01 and a beta of 1.90.

Magnolia Oil & Gas (NYSE:MGY) last issued its quarterly earnings results on Tuesday, February 18th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate 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 return on equity of 20.74% and a net margin of 27.82%. Analysts expect that Magnolia Oil & Gas Co. will post 2.1 earnings per share for the current year.

Magnolia Oil & Gas Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 2.54%. The ex-dividend date was Friday, February 14th. This is a boost from Magnolia Oil & Gas’s previous quarterly dividend of $0.13. Magnolia Oil & Gas’s dividend payout ratio 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.