BNP Paribas Financial Markets Boosts Position in Magnolia Oil & Gas Co. (NYSE:MGY)

BNP Paribas Financial Markets raised its stake in shares of Magnolia Oil & Gas Co. (NYSE:MGY – Free Report) by 10.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 341,493 shares of the company’s stock after buying an additional 32,662 shares during the quarter. BNP Paribas Financial Markets’ holdings in Magnolia Oil & Gas were worth $7,270,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Allspring Global Investments Holdings LLC boosted its position in shares of Magnolia Oil & Gas by 9.9% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 3,041,390 shares of the company’s stock valued at $64,751,000 after acquiring an additional 274,908 shares during the last quarter. Vest Financial LLC lifted its position in Magnolia Oil & Gas by 51.4% in the 4th quarter. Vest Financial LLC now owns 606,277 shares of the company’s stock worth $12,908,000 after buying an additional 205,924 shares during the last quarter. VisionPoint Advisory Group LLC lifted its position in Magnolia Oil & Gas by 112.3% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 1,537 shares of the company’s stock worth $35,000 after buying an additional 813 shares during the last quarter. Sei Investments Co. lifted its position in Magnolia Oil & Gas by 6.2% in the 3rd quarter. Sei Investments Co. now owns 818,397 shares of the company’s stock worth $18,750,000 after buying an additional 47,564 shares during the last quarter. Finally, Los Angeles Capital Management LLC lifted its position in Magnolia Oil & Gas by 280.6% in the 4th quarter. Los Angeles Capital Management LLC now owns 48,635 shares of the company’s stock worth $1,035,000 after buying an additional 35,856 shares during the last quarter. Institutional investors own 94.73% of the company’s stock.

Wall Street Analyst Weigh In

MGY has been the subject of a number of recent investigation reports. Truist Financial boosted their target price on Magnolia Oil & Gas from $32.00 to $33.00 and gave the stock a “buy” rating in a research report on Friday, February 16th. Mizuho boosted their target price on Magnolia Oil & Gas from $26.00 to $28.00 and gave the stock a “neutral” rating in a research report on Monday, May 13th. Bank of America started coverage on Magnolia Oil & Gas in a research report on Tuesday, February 27th. They issued a “buy” rating and a $25.00 target price for the company. Piper Sandler reiterated a “neutral” rating and issued a $29.00 price objective on shares of Magnolia Oil & Gas in a research report on Friday, April 19th. Finally, The Goldman Sachs Group boosted their price target on Magnolia Oil & Gas from $24.50 to $28.00 and gave the company a “buy” rating in a research report on Tuesday, March 26th. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Magnolia Oil & Gas currently has an average rating of “Hold” and an average target price of $27.88.

Check Out Our Latest Stock Analysis on MGY

Insider Activity

In other news, Director John B. Walker sold 12,000,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $25.58, for a total transaction of $306,960,000.00. Following the transaction, the director now directly owns 4,164,961 shares of the company’s stock, valued at $106,539,702.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 1.20% of the company’s stock.

Magnolia Oil & Gas Price Performance

MGY opened at $25.48 on Friday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.71 and a current ratio of 1.71. Magnolia Oil & Gas Co. has a 52-week low of $19.05 and a 52-week high of $27.33. The stock has a market capitalization of $5.17 billion, a PE ratio of 12.68, a price-to-earnings-growth ratio of 1.47 and a beta of 2.03. The stock’s 50-day moving average price is $25.61 and its 200-day moving average price is $22.81.

Magnolia Oil & Gas (NYSE:MGY – Get Free Report) last posted its earnings results on Wednesday, February 14th. The company reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.04). Magnolia Oil & Gas had a net margin of 30.46% and a return on equity of 20.41%. The business had revenue of $322.63 million for the quarter, compared to analysts’ expectations of $324.95 million. On average, equities research analysts predict that Magnolia Oil & Gas Co. will post 2.23 EPS for the current year.

Magnolia Oil & Gas Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 13th will be paid a dividend of $0.13 per share. The ex-dividend date is Friday, May 10th. This represents a $0.52 annualized dividend and a dividend yield of 2.04%. Magnolia Oil & Gas’s dividend payout ratio (DPR) is presently 25.87%.

About Magnolia Oil & Gas

(Free Report)

Magnolia Oil & Gas Corporation, an independent oil and natural gas company, engages in the acquisition, development, exploration, and production of oil, natural gas, and natural gas liquids reserves in the United States. Its properties are located primarily in Karnes County and the Giddings area in South Texas mainly comprising the Eagle Ford Shale and the Austin Chalk formation.

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