Magnolia Oil & Gas Co. (NYSE:MGY) Stake Cut by Farther Finance Advisors LLC

Farther Finance Advisors LLC cut its position in shares of Magnolia Oil & Gas Co. (NYSE:MGY) by 25.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,737 shares of the company’s stock after selling 1,259 shares during the quarter. Farther Finance Advisors LLC’s holdings in Magnolia Oil & Gas were worth $87,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. First Horizon Advisors Inc. lifted its stake in Magnolia Oil & Gas by 64.7% during the third quarter. First Horizon Advisors Inc. now owns 1,008 shares of the company’s stock worth $25,000 after purchasing an additional 396 shares during the last quarter. Albert D Mason Inc. lifted its stake in Magnolia Oil & Gas by 0.7% during the fourth quarter. Albert D Mason Inc. now owns 61,497 shares of the company’s stock worth $1,438,000 after purchasing an additional 411 shares during the last quarter. Isthmus Partners LLC lifted its stake in Magnolia Oil & Gas by 5.2% during the fourth quarter. Isthmus Partners LLC now owns 9,320 shares of the company’s stock worth $218,000 after purchasing an additional 460 shares during the last quarter. Jennison Associates LLC lifted its stake in Magnolia Oil & Gas by 2.2% during the third quarter. Jennison Associates LLC now owns 23,836 shares of the company’s stock worth $582,000 after purchasing an additional 506 shares during the last quarter. Finally, Avior Wealth Management LLC lifted its stake in Magnolia Oil & Gas by 30.0% in the fourth quarter. Avior Wealth Management LLC now owns 2,194 shares of the company’s stock valued at $51,000 after buying an additional 506 shares during the last quarter. 94.73% of the stock is currently owned by institutional investors.

Magnolia Oil & Gas Price Performance

NYSE:MGY opened at $25.03 on Friday. The business’s 50-day moving average price is $24.16 and its 200 day moving average price is $25.01. The firm has a market cap of $4.86 billion, a P/E ratio of 12.97, a PEG ratio of 3.01 and a beta of 1.90. Magnolia Oil & Gas Co. has a 52-week low of $21.63 and a 52-week high of $29.02. The company has a quick ratio of 1.47, a current ratio of 1.42 and a debt-to-equity ratio of 0.20.

Magnolia Oil & Gas (NYSE:MGY) last released its earnings results on Tuesday, February 18th. The company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.03. The firm had revenue of $326.61 million for the quarter, compared to analyst estimates of $327.40 million. Magnolia Oil & Gas had a return on equity of 20.74% and a net margin of 27.82%. As a group, sell-side analysts predict that Magnolia Oil & Gas Co. will post 2.1 earnings per share 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. Investors of record on Friday, February 14th were given a $0.15 dividend. This is a positive change from Magnolia Oil & Gas’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.40%. Magnolia Oil & Gas’s dividend payout ratio (DPR) is 31.09%.

Insider Activity at Magnolia Oil & Gas

In related news, CEO Christopher G. Stavros purchased 2,500 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The stock was acquired at an average price of $22.05 per share, for a total transaction of $55,125.00. Following the transaction, the chief executive officer now directly owns 892,372 shares of the company’s stock, valued at $19,676,802.60. This trade represents a 0.28 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.40% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have issued reports on MGY shares. Mizuho raised their target price on Magnolia Oil & Gas from $27.00 to $28.00 and gave the company a “neutral” rating in a research note on Monday, December 16th. Piper Sandler raised their target price on Magnolia Oil & Gas from $24.00 to $26.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. Johnson Rice cut Magnolia Oil & Gas from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, January 28th. The Goldman Sachs Group cut Magnolia Oil & Gas from a “buy” rating to a “neutral” rating and cut their target price for the company from $27.00 to $26.00 in a research note on Friday, January 31st. Finally, JPMorgan Chase & Co. cut their target price on Magnolia Oil & Gas from $28.00 to $24.00 and set a “neutral” rating on the stock in a research note on Thursday, March 13th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price 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.