Alliancebernstein L.P. Has $129.44 Million Position in Magnolia Oil & Gas Co. (NYSE:MGY)

Alliancebernstein L.P. trimmed its position in shares of Magnolia Oil & Gas Co. (NYSE:MGY) by 2.8% during the fourth quarter, HoldingsChannel.com reports. The firm owned 5,536,416 shares of the company’s stock after selling 157,003 shares during the period. Alliancebernstein L.P.’s holdings in Magnolia Oil & Gas were worth $129,441,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. FMR LLC boosted its position in Magnolia Oil & Gas by 174.9% during the 3rd quarter. FMR LLC now owns 34,851 shares of the company’s stock worth $851,000 after buying an additional 22,171 shares during the period. HighTower Advisors LLC bought a new stake in shares of Magnolia Oil & Gas in the third quarter worth $353,000. Charles Schwab Investment Management Inc. increased its holdings in Magnolia Oil & Gas by 4.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,076,541 shares of the company’s stock valued at $48,550,000 after purchasing an additional 85,524 shares during the period. Ashton Thomas Private Wealth LLC bought a new position in Magnolia Oil & Gas during the 4th quarter worth $590,000. Finally, Proficio Capital Partners LLC acquired a new position in Magnolia Oil & Gas during the 4th quarter worth about $292,000. 94.73% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CEO Christopher G. Stavros acquired 2,500 shares of Magnolia Oil & Gas stock in a transaction on Monday, March 3rd. The stock was acquired at an average cost of $22.05 per share, with a total value of $55,125.00. Following the transaction, the chief executive officer now 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.20% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Bank of America restated a “neutral” rating and set a $28.00 price objective (down from $29.00) on shares of Magnolia Oil & Gas in a research report on Monday, January 13th. The Goldman Sachs Group downgraded shares of Magnolia Oil & Gas from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $27.00 to $26.00 in a research report on Friday, January 31st. Mizuho increased their price objective on shares of Magnolia Oil & Gas from $27.00 to $28.00 and gave the stock a “neutral” rating in a research report on Monday, December 16th. Johnson Rice lowered shares of Magnolia Oil & Gas from a “moderate buy” rating to a “hold” rating in a report on Tuesday, January 28th. Finally, Williams Trading set a $29.00 price target on Magnolia Oil & Gas in a report on Wednesday, March 5th. Two research 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. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $27.77.

Magnolia Oil & Gas Stock Performance

Shares of MGY stock opened at $25.74 on Thursday. Magnolia Oil & Gas Co. has a 12 month low of $21.63 and a 12 month high of $29.02. The firm has a market capitalization of $5.00 billion, a PE ratio of 13.34, a price-to-earnings-growth ratio of 3.01 and a beta of 1.57. The firm has a fifty day simple moving average of $24.03 and a two-hundred day simple moving average of $25.12. The company has a current ratio of 1.42, a quick ratio of 1.47 and a debt-to-equity ratio of 0.20.

Magnolia Oil & Gas (NYSE:MGY) last posted its earnings results on Tuesday, February 18th. The company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.03. Magnolia Oil & Gas had a net margin of 27.82% and a return on equity of 20.74%. The company had revenue of $326.61 million for the quarter, compared to analyst estimates of $327.40 million. Analysts forecast that Magnolia Oil & Gas Co. will post 2.1 EPS for the current fiscal year.

Magnolia Oil & Gas Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were given a dividend of $0.15 per share. This is a boost from Magnolia Oil & Gas’s previous quarterly dividend of $0.13. The ex-dividend date was Friday, February 14th. This represents a $0.60 annualized dividend and a dividend yield of 2.33%. Magnolia Oil & Gas’s payout ratio is presently 31.09%.

About Magnolia Oil & Gas

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.