Marshall Wace LLP Buys 365,735 Shares of Magnolia Oil & Gas Co. (NYSE:MGY)

Marshall Wace LLP increased its holdings in shares of Magnolia Oil & Gas Co. (NYSE:MGY) by 1,556.3% in the second quarter, Holdings Channel.com reports. The firm owned 389,235 shares of the company’s stock after purchasing an additional 365,735 shares during the quarter. Marshall Wace LLP’s holdings in Magnolia Oil & Gas were worth $9,863,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Nordea Investment Management AB increased its position in shares of Magnolia Oil & Gas by 37.1% in the first quarter. Nordea Investment Management AB now owns 521,702 shares of the company’s stock valued at $13,387,000 after acquiring an additional 141,046 shares during the last quarter. Maryland State Retirement & Pension System acquired a new stake in shares of Magnolia Oil & Gas during the 1st quarter worth approximately $1,721,000. Texas Permanent School Fund Corp acquired a new stake in Magnolia Oil & Gas in the first quarter valued at approximately $4,207,000. Vanguard Group Inc. boosted its position in Magnolia Oil & Gas by 16.6% in the first quarter. Vanguard Group Inc. now owns 20,757,369 shares of the company’s stock valued at $538,654,000 after buying an additional 2,956,314 shares in the last quarter. Finally, Wasatch Advisors LP boosted its position in Magnolia Oil & Gas by 2.2% in the fourth quarter. Wasatch Advisors LP now owns 3,679,262 shares of the company’s stock valued at $78,331,000 after buying an additional 77,733 shares in the last quarter. 94.73% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Ltd. Enervest sold 7,000,000 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $25.86, for a total transaction of $181,020,000.00. Following the transaction, the director now directly owns 2,099,403 shares in the company, valued at $54,290,561.58. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.20% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Bank of America raised their price target on shares of Magnolia Oil & Gas from $28.00 to $29.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Benchmark reissued a “hold” rating on shares of Magnolia Oil & Gas in a research note on Thursday, July 18th. Susquehanna lowered their target price on shares of Magnolia Oil & Gas from $33.00 to $32.00 and set a “positive” rating for the company in a research note on Wednesday, September 4th. Capital One Financial assumed coverage on shares of 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, Piper Sandler decreased their price target on shares of Magnolia Oil & Gas from $29.00 to $26.00 and set a “neutral” rating for the company in a research note on Thursday, August 15th. One analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $28.00.

Magnolia Oil & Gas Stock Up 2.4 %

Shares of NYSE MGY opened at $24.27 on Monday. The stock has a market capitalization of $4.83 billion, a P/E ratio of 12.07, a P/E/G ratio of 1.27 and a beta of 2.00. The company has a 50-day moving average price of $24.94 and a 200-day moving average price of $25.31. Magnolia Oil & Gas Co. has a 1 year low of $19.16 and a 1 year high of $27.63. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.28 and a quick ratio of 1.28.

Magnolia Oil & Gas (NYSE:MGY) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.05. The firm had revenue of $336.73 million during the quarter, compared to analysts’ expectations of $340.72 million. Magnolia Oil & Gas had a net margin of 29.44% and a return on equity of 21.18%. On average, equities research analysts forecast that Magnolia Oil & Gas Co. will post 2.04 EPS for the current fiscal year.

Magnolia Oil & Gas Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 2.14%. The ex-dividend date of this dividend was Friday, August 9th. Magnolia Oil & Gas’s dividend payout ratio (DPR) is presently 25.87%.

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.