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

Ranger Investment Management L.P. bought a new stake in Magnolia Oil & Gas Co. (NYSE:MGY) in the fourth quarter, HoldingsChannel reports. The fund bought 1,184,875 shares of the company’s stock, valued at approximately $25,226,000.

A number of other hedge funds have also added to or reduced their stakes in MGY. Principal Financial Group Inc. raised its position in Magnolia Oil & Gas by 24.6% during the third quarter. Principal Financial Group Inc. now owns 51,856 shares of the company’s stock worth $1,188,000 after acquiring an additional 10,239 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Magnolia Oil & Gas by 12.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,735,955 shares of the company’s stock valued at $39,771,000 after purchasing an additional 195,467 shares during the last quarter. Oliver Luxxe Assets LLC bought a new position in Magnolia Oil & Gas during the third quarter worth $919,000. Rhumbline Advisers increased its holdings in shares of Magnolia Oil & Gas by 1.0% in the third quarter. Rhumbline Advisers now owns 294,879 shares of the company’s stock valued at $6,756,000 after purchasing an additional 3,009 shares during the last quarter. Finally, Anchor Capital Advisors LLC raised its position in shares of Magnolia Oil & Gas by 8.8% in the third quarter. Anchor Capital Advisors LLC now owns 67,638 shares of the company’s stock valued at $1,550,000 after purchasing an additional 5,446 shares during the period. Institutional investors own 94.73% of the company’s stock.

Insider Buying and Selling at Magnolia Oil & Gas

In other news, Director John B. Walker sold 12,000,000 shares of Magnolia Oil & Gas stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $25.58, for a total value of $306,960,000.00. Following the completion of the transaction, the director now owns 4,164,961 shares in the company, valued at $106,539,702.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.20% of the company’s stock.

Magnolia Oil & Gas Stock Down 0.5 %

Magnolia Oil & Gas stock traded down $0.11 during trading on Friday, hitting $24.25. 1,072,107 shares of the company were exchanged, compared to its average volume of 2,347,050. The company has a current ratio of 1.71, a quick ratio of 1.71 and a debt-to-equity ratio of 0.21. The business’s 50 day moving average is $25.69 and its 200 day moving average is $23.15. Magnolia Oil & Gas Co. has a 52 week low of $19.16 and a 52 week high of $27.33. The company has a market capitalization of $4.92 billion, a P/E ratio of 12.06, a PEG ratio of 1.36 and a beta of 2.00.

Magnolia Oil & Gas (NYSE:MGY) last announced its earnings results on Tuesday, May 7th. The company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $319.42 million for the quarter, compared to the consensus estimate of $308.21 million. Analysts predict that Magnolia Oil & Gas Co. will post 2.25 earnings per share for the current year.

Magnolia Oil & Gas Announces Dividend

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

Analyst Ratings Changes

A number of brokerages have recently issued reports on MGY. Benchmark restated a “hold” rating on shares of Magnolia Oil & Gas in a report on Tuesday, April 23rd. Bank of America assumed coverage on shares of Magnolia Oil & Gas in a research note on Tuesday, February 27th. They issued a “buy” rating and a $25.00 price objective for the company. Mizuho raised their target price on shares of Magnolia Oil & Gas from $26.00 to $28.00 and gave the stock a “neutral” rating in a report on Monday, May 13th. Susquehanna upped their target price on Magnolia Oil & Gas from $28.00 to $31.00 and gave the company a “positive” rating in a research report on Monday, April 22nd. Finally, The Goldman Sachs Group upped their price objective on shares of Magnolia Oil & Gas from $24.50 to $28.00 and gave the stock a “buy” rating in a research report on Tuesday, March 26th. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $28.13.

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.