Quadrant Capital Group LLC Buys 1,331 Shares of Magnolia Oil & Gas Co. (NYSE:MGY)

Quadrant Capital Group LLC grew its stake in shares of Magnolia Oil & Gas Co. (NYSE:MGY) by 40.4% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,623 shares of the company’s stock after purchasing an additional 1,331 shares during the quarter. Quadrant Capital Group LLC’s holdings in Magnolia Oil & Gas were worth $98,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Teacher Retirement System of Texas raised its position in Magnolia Oil & Gas by 9.3% during the third quarter. Teacher Retirement System of Texas now owns 48,233 shares of the company’s stock worth $1,105,000 after acquiring an additional 4,113 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of Magnolia Oil & Gas by 24.6% during the 3rd quarter. Principal Financial Group Inc. now owns 51,856 shares of the company’s stock worth $1,188,000 after purchasing an additional 10,239 shares during the last quarter. California Public Employees Retirement System raised its holdings in shares of Magnolia Oil & Gas by 42.8% in the 3rd quarter. California Public Employees Retirement System now owns 330,207 shares of the company’s stock valued at $7,565,000 after purchasing an additional 99,020 shares during the period. Signaturefd LLC raised its holdings in shares of Magnolia Oil & Gas by 6.7% in the 3rd quarter. Signaturefd LLC now owns 8,325 shares of the company’s stock valued at $191,000 after purchasing an additional 523 shares during the period. Finally, abrdn plc acquired a new stake in Magnolia Oil & Gas in the 3rd quarter valued at about $28,249,000. Institutional investors own 94.73% of the company’s stock.

Magnolia Oil & Gas Price Performance

Shares of Magnolia Oil & Gas stock opened at $24.91 on Friday. The company has a 50-day simple moving average of $25.72 and a two-hundred day simple moving average of $22.89. Magnolia Oil & Gas Co. has a twelve month low of $19.05 and a twelve month high of $27.33. The stock has a market capitalization of $5.05 billion, a price-to-earnings ratio of 12.39, a price-to-earnings-growth ratio of 1.39 and a beta of 2.03. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 0.21.

Magnolia Oil & Gas Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, May 13th will be given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date of this dividend is Friday, May 10th. Magnolia Oil & Gas’s dividend payout ratio is currently 25.87%.

Insider Buying and Selling at Magnolia Oil & Gas

In related news, Director John B. Walker sold 12,000,000 shares of the firm’s stock in a transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on MGY. Wells Fargo & Company boosted their target price on Magnolia Oil & Gas from $23.00 to $27.00 and gave the stock an “equal weight” rating in a report on Thursday, April 18th. Citigroup upped their price objective on shares of Magnolia Oil & Gas from $18.00 to $22.00 and gave the company a “sell” rating in a report on Monday, April 15th. Susquehanna lifted their target price on shares of Magnolia Oil & Gas from $28.00 to $31.00 and gave the stock a “positive” rating in a report on Monday, April 22nd. The Goldman Sachs Group upped their price target on shares of Magnolia Oil & Gas from $24.50 to $28.00 and gave the company a “buy” rating in a research note on Tuesday, March 26th. Finally, Bank of America began coverage on shares of Magnolia Oil & Gas in a research report on Tuesday, February 27th. They set a “buy” rating and a $25.00 price objective for the company. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $27.88.

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.