Magnolia Oil & Gas Co. (NYSE:MGY) Shares Sold by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC cut its holdings in Magnolia Oil & Gas Co. (NYSE:MGY) by 2.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 99,569 shares of the company’s stock after selling 2,548 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Magnolia Oil & Gas were worth $2,328,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Soros Fund Management LLC acquired a new position in Magnolia Oil & Gas in the 3rd quarter valued at about $18,120,000. Barclays PLC increased its holdings in shares of Magnolia Oil & Gas by 62.5% in the third quarter. Barclays PLC now owns 1,653,736 shares of the company’s stock valued at $40,383,000 after purchasing an additional 636,049 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Magnolia Oil & Gas during the fourth quarter worth approximately $13,634,000. State Street Corp lifted its holdings in shares of Magnolia Oil & Gas by 4.2% during the third quarter. State Street Corp now owns 10,700,257 shares of the company’s stock worth $261,300,000 after purchasing an additional 435,326 shares during the period. Finally, Centiva Capital LP grew its position in Magnolia Oil & Gas by 767.6% in the 3rd quarter. Centiva Capital LP now owns 487,148 shares of the company’s stock valued at $11,896,000 after buying an additional 430,996 shares during the last quarter. 94.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MGY has been the subject of a number of analyst reports. Truist Financial upped their price objective on shares of Magnolia Oil & Gas from $33.00 to $34.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Williams Trading set a $29.00 price objective on shares of Magnolia Oil & Gas in a research report on Wednesday, March 5th. Piper Sandler boosted their target price on Magnolia Oil & Gas from $24.00 to $26.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Bank of America reissued a “neutral” rating and issued a $28.00 price target (down from $29.00) on shares of Magnolia Oil & Gas in a report on Monday, January 13th. Finally, Johnson Rice downgraded Magnolia Oil & Gas from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, January 28th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $27.77.

Insider Activity at Magnolia Oil & Gas

In other Magnolia Oil & Gas news, CEO Christopher G. Stavros purchased 2,500 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was bought at an average cost of $22.05 per share, for a total transaction of $55,125.00. Following the acquisition, the chief executive officer now owns 892,372 shares of the company’s stock, valued at approximately $19,676,802.60. The trade was a 0.28 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. 1.20% of the stock is currently owned by corporate insiders.

Magnolia Oil & Gas Stock Performance

Shares of MGY opened at $25.63 on Thursday. Magnolia Oil & Gas Co. has a 12-month low of $21.63 and a 12-month high of $29.02. The stock has a market cap of $4.98 billion, a P/E ratio of 13.28, a PEG ratio of 3.01 and a beta of 1.90. The company has a current ratio of 1.42, a quick ratio of 1.47 and a debt-to-equity ratio of 0.20. The company has a 50-day moving average of $24.13 and a two-hundred day moving average of $25.05.

Magnolia Oil & Gas (NYSE:MGY) last issued its quarterly earnings data on Tuesday, February 18th. The company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.03. The firm had revenue of $326.61 million during the quarter, compared to the consensus estimate 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, research analysts predict that Magnolia Oil & Gas Co. will post 2.1 EPS for the current fiscal year.

Magnolia Oil & Gas Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 2.34%. The ex-dividend date was Friday, February 14th. This is a boost from Magnolia Oil & Gas’s previous quarterly dividend of $0.13. Magnolia Oil & Gas’s dividend payout ratio (DPR) is currently 31.09%.

Magnolia Oil & Gas Profile

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.