Ranger Investment Management L.P. Makes New Investment in Magnolia Oil & Gas Co. (NYSE:MGY)

Ranger Investment Management L.P. bought a new stake in Magnolia Oil & Gas Co. (NYSE:MGY) during the fourth quarter, according to its most recent filing with the SEC. The firm bought 1,184,875 shares of the company’s stock, valued at approximately $25,226,000. Ranger Investment Management L.P. owned about 0.57% of Magnolia Oil & Gas 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. Private Wealth Management Group LLC acquired a new position in shares of Magnolia Oil & Gas in the 4th quarter valued at $33,000. VisionPoint Advisory Group LLC raised 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 valued at $35,000 after acquiring an additional 813 shares during the last quarter. Quadrant Capital Group LLC boosted its holdings in shares of Magnolia Oil & Gas by 40.4% in the 4th quarter. Quadrant Capital Group LLC now owns 4,623 shares of the company’s stock worth $98,000 after acquiring an additional 1,331 shares in the last quarter. Arlington Trust Co LLC bought a new stake in Magnolia Oil & Gas during the 4th quarter worth approximately $113,000. Finally, Signaturefd LLC increased 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 valued at $198,000 after purchasing an additional 988 shares in the last quarter. 94.73% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on MGY. Citigroup boosted their price objective on shares of Magnolia Oil & Gas from $18.00 to $22.00 and gave the stock a “sell” rating in a research report on Monday, April 15th. Mizuho boosted their price target on shares of Magnolia Oil & Gas from $26.00 to $28.00 and gave the stock a “neutral” rating in a research note on Monday, May 13th. Benchmark reissued a “hold” rating on shares of Magnolia Oil & Gas in a research note on Tuesday, April 23rd. Truist Financial lifted their price target on shares of Magnolia Oil & Gas from $33.00 to $35.00 and gave the stock a “buy” rating in a research report on Friday, May 31st. Finally, 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 report on Monday, April 22nd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Magnolia Oil & Gas currently has an average rating of “Hold” and a consensus target price of $28.13.

Magnolia Oil & Gas Trading Down 0.5 %

Shares of MGY stock traded down $0.11 during trading hours on Friday, hitting $24.25. 1,072,107 shares of the company’s stock traded hands, compared to its average volume of 2,347,050. The stock has a market cap of $4.92 billion, a PE ratio of 12.06, a price-to-earnings-growth ratio of 1.36 and a beta of 2.00. The stock’s 50 day simple moving average is $25.69 and its 200 day simple moving average is $23.15. 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 Co. has a 12 month low of $19.16 and a 12 month high of $27.33.

Magnolia Oil & Gas (NYSE:MGY) last announced its earnings results on Tuesday, May 7th. The company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.44 by $0.05. Magnolia Oil & Gas had a return on equity of 20.41% and a net margin of 30.46%. The business had revenue of $319.42 million for the quarter, compared to analysts’ expectations of $308.21 million. On average, sell-side analysts anticipate that Magnolia Oil & Gas Co. will post 2.25 EPS for the current year.

Magnolia Oil & Gas Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Monday, May 13th were paid a $0.13 dividend. The ex-dividend date of this dividend was Friday, May 10th. This represents a $0.52 annualized dividend and a dividend yield of 2.14%. Magnolia Oil & Gas’s dividend payout ratio is currently 25.87%.

Insider Activity at Magnolia Oil & Gas

In related news, Director John B. Walker sold 12,000,000 shares of the company’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 transaction of $306,960,000.00. Following the transaction, the director now directly owns 4,164,961 shares of the company’s stock, valued at approximately $106,539,702.38. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 1.20% of the stock is owned by corporate insiders.

Magnolia Oil & Gas Company Profile

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.