Goldman Sachs Group Inc. Has $16.83 Million Stock Holdings in Magnolia Oil & Gas Co. (NYSE:MGY)

Goldman Sachs Group Inc. raised its holdings in Magnolia Oil & Gas Co. (NYSE:MGY) by 15.0% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 790,363 shares of the company’s stock after acquiring an additional 103,183 shares during the quarter. Goldman Sachs Group Inc. owned approximately 0.39% of Magnolia Oil & Gas worth $16,827,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Private Wealth Management Group LLC bought a new position in Magnolia Oil & Gas during the 4th quarter worth $33,000. VisionPoint Advisory Group LLC lifted its stake in shares of Magnolia Oil & Gas by 112.3% in the third quarter. VisionPoint Advisory Group LLC now owns 1,537 shares of the company’s stock worth $35,000 after acquiring an additional 813 shares during the period. Quadrant Capital Group LLC boosted its holdings in Magnolia Oil & Gas by 40.4% in the fourth quarter. Quadrant Capital Group LLC now owns 4,623 shares of the company’s stock valued at $98,000 after acquiring an additional 1,331 shares during the last quarter. Arlington Trust Co LLC acquired a new stake in Magnolia Oil & Gas during the 4th quarter valued at approximately $113,000. Finally, Signaturefd LLC raised its holdings in Magnolia Oil & Gas by 11.9% during the 4th quarter. Signaturefd LLC now owns 9,313 shares of the company’s stock worth $198,000 after purchasing an additional 988 shares during the last quarter. Institutional investors own 94.73% of the company’s stock.

Insiders Place Their Bets

In other news, Director John B. Walker sold 12,000,000 shares of the firm’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 value of $306,960,000.00. Following the transaction, the director now owns 4,164,961 shares in the company, valued at $106,539,702.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.20% of the company’s stock.

Magnolia Oil & Gas Price Performance

Shares of NYSE:MGY opened at $25.27 on Friday. The stock’s 50 day moving average is $25.23 and its 200-day moving average is $23.48. Magnolia Oil & Gas Co. has a twelve month low of $19.16 and a twelve month high of $27.33. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $5.12 billion, a price-to-earnings ratio of 12.57, a PEG ratio of 1.42 and a beta of 2.00.

Magnolia Oil & Gas (NYSE:MGY) last released its quarterly earnings data on Tuesday, May 7th. The company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.05. The firm had revenue of $319.42 million for the quarter, compared to the consensus estimate of $308.21 million. Magnolia Oil & Gas had a net margin of 30.46% and a return on equity of 20.41%. Sell-side analysts forecast that Magnolia Oil & Gas Co. will post 2.25 EPS for the current fiscal year.

Magnolia Oil & Gas Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Monday, May 13th were paid a dividend of $0.13 per share. The ex-dividend date of this dividend was Friday, May 10th. This represents a $0.52 dividend on an annualized basis and a yield of 2.06%. Magnolia Oil & Gas’s dividend payout ratio (DPR) is currently 25.87%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on MGY shares. Susquehanna upped their price objective on shares of Magnolia Oil & Gas from $28.00 to $31.00 and gave the company a “positive” rating in a research note on Monday, April 22nd. Truist Financial increased their price target on Magnolia Oil & Gas from $33.00 to $35.00 and gave the stock a “buy” rating in a report on Friday, May 31st. Piper Sandler reissued a “neutral” rating and issued a $29.00 price objective on shares of Magnolia Oil & Gas in a research note on Friday, April 19th. Capital One Financial initiated coverage on Magnolia Oil & Gas in a research note on Tuesday, June 11th. They set an “overweight” rating and a $28.00 target price for the company. Finally, Mizuho boosted their price target on Magnolia Oil & Gas from $26.00 to $28.00 and gave the company a “neutral” rating in a research note on Monday, May 13th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $28.11.

About Magnolia Oil & Gas

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 principally comprising the Eagle Ford Shale and the Austin Chalk formation.