ExodusPoint Capital Management LP Grows Stock Holdings in Magnolia Oil & Gas Co. (NYSE:MGY)

ExodusPoint Capital Management LP lifted its position in Magnolia Oil & Gas Co. (NYSE:MGY) by 683.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 406,853 shares of the company’s stock after purchasing an additional 354,949 shares during the quarter. ExodusPoint Capital Management LP’s holdings in Magnolia Oil & Gas were worth $9,512,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. FMR LLC grew its position in Magnolia Oil & Gas by 174.9% during the third quarter. FMR LLC now owns 34,851 shares of the company’s stock valued at $851,000 after acquiring an additional 22,171 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in shares of Magnolia Oil & Gas by 27.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 128,492 shares of the company’s stock valued at $3,138,000 after purchasing an additional 27,467 shares in the last quarter. Townsquare Capital LLC bought a new position in shares of Magnolia Oil & Gas during the 3rd quarter valued at $237,000. Captrust Financial Advisors raised its position in Magnolia Oil & Gas by 9.3% in the 3rd quarter. Captrust Financial Advisors now owns 48,731 shares of the company’s stock worth $1,190,000 after purchasing an additional 4,156 shares during the period. Finally, Verition Fund Management LLC lifted its stake in Magnolia Oil & Gas by 11.5% in the third quarter. Verition Fund Management LLC now owns 84,864 shares of the company’s stock worth $2,072,000 after purchasing an additional 8,724 shares during the last quarter. 94.73% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Christopher G. Stavros bought 2,500 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was acquired at an average price 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 in the company, valued at approximately $19,676,802.60. This trade represents a 0.28 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 1.20% of the stock is owned by corporate insiders.

Magnolia Oil & Gas Trading Down 10.5 %

NYSE:MGY opened at $21.05 on Friday. The firm has a market capitalization of $4.09 billion, a P/E ratio of 10.90, a PEG ratio of 3.01 and a beta of 1.57. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.42 and a quick ratio of 1.47. Magnolia Oil & Gas Co. has a one year low of $20.76 and a one year high of $29.02. The company’s 50-day simple moving average is $23.90 and its 200 day simple moving average is $25.09.

Magnolia Oil & Gas (NYSE:MGY) last issued its quarterly earnings results on Tuesday, February 18th. The company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.03. Magnolia Oil & Gas had a return on equity of 20.74% and a net margin of 27.82%. The firm had revenue of $326.61 million for the quarter, compared to analysts’ expectations of $327.40 million. As a group, 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 declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were paid a $0.15 dividend. The ex-dividend date was Friday, February 14th. This is a positive change from Magnolia Oil & Gas’s previous quarterly dividend of $0.13. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.85%. Magnolia Oil & Gas’s payout ratio is currently 31.09%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. JPMorgan Chase & Co. decreased their price objective on Magnolia Oil & Gas from $28.00 to $24.00 and set a “neutral” rating on the stock in a report on Thursday, March 13th. Bank of America reiterated a “neutral” rating and issued a $28.00 price objective (down previously from $29.00) on shares of Magnolia Oil & Gas in a research report on Monday, January 13th. The Goldman Sachs Group cut shares of Magnolia Oil & Gas from a “buy” rating to a “neutral” rating and cut their target price for the stock from $27.00 to $26.00 in a report on Friday, January 31st. Williams Trading set a $29.00 target price on shares of Magnolia Oil & Gas in a research note on Wednesday, March 5th. Finally, Mizuho increased their price target on shares of Magnolia Oil & Gas from $27.00 to $28.00 and gave the company a “neutral” rating in a research report on Monday, December 16th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $27.77.

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.