King Luther Capital Management Corp Sells 5,576 Shares of Magnolia Oil & Gas Co. (NYSE:MGY)

King Luther Capital Management Corp cut its holdings in Magnolia Oil & Gas Co. (NYSE:MGY) by 1.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 328,264 shares of the company’s stock after selling 5,576 shares during the quarter. King Luther Capital Management Corp’s holdings in Magnolia Oil & Gas were worth $7,675,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of MGY. First Horizon Advisors Inc. boosted its stake in shares of Magnolia Oil & Gas by 64.7% during the 3rd 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 period. Albert D Mason Inc. lifted its position in shares of 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 boosted its position in Magnolia Oil & Gas by 5.2% in the 4th quarter. Isthmus Partners LLC now owns 9,320 shares of the company’s stock valued at $218,000 after buying an additional 460 shares during the period. Jennison Associates LLC boosted its holdings in shares of Magnolia Oil & Gas by 2.2% in the third quarter. Jennison Associates LLC now owns 23,836 shares of the company’s stock valued at $582,000 after purchasing an additional 506 shares during the period. Finally, Avior Wealth Management LLC grew its position in shares of Magnolia Oil & Gas by 30.0% during the 4th quarter. Avior Wealth Management LLC now owns 2,194 shares of the company’s stock worth $51,000 after buying an additional 506 shares in the last quarter. Institutional investors own 94.73% of the company’s stock.

Magnolia Oil & Gas Price Performance

NYSE:MGY opened at $22.86 on Wednesday. The firm’s fifty day moving average is $24.16 and its two-hundred day moving average is $25.10. The firm has a market cap of $4.44 billion, a price-to-earnings ratio of 11.84, a PEG ratio of 3.01 and a beta of 1.90. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.47 and a current ratio of 1.42. Magnolia Oil & Gas Co. has a one year low of $21.63 and a one year high of $29.02.

Magnolia Oil & Gas (NYSE:MGY) last posted its earnings results on Tuesday, February 18th. The company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.46 by $0.03. Magnolia Oil & Gas had a return on equity of 20.74% and a net margin of 27.82%. The firm had revenue of $326.61 million for the quarter, compared to analyst estimates of $327.40 million. Research analysts expect that Magnolia Oil & Gas Co. will post 2.1 EPS for the current year.

Magnolia Oil & Gas Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were paid a $0.15 dividend. This is a boost from Magnolia Oil & Gas’s previous quarterly dividend of $0.13. This represents a $0.60 annualized dividend and a dividend yield of 2.62%. The ex-dividend date of this dividend was Friday, February 14th. Magnolia Oil & Gas’s payout ratio is currently 31.09%.

Analysts Set New Price Targets

MGY has been the topic of several recent research reports. Bank of America reaffirmed a “neutral” rating and set a $28.00 target price (down previously from $29.00) on shares of Magnolia Oil & Gas in a research report on Monday, January 13th. Johnson Rice lowered Magnolia Oil & Gas from a “moderate buy” rating to a “hold” rating in a report on Tuesday, January 28th. Williams Trading set a $29.00 target price on Magnolia Oil & Gas in a research note on Wednesday, March 5th. The Goldman Sachs Group cut Magnolia Oil & Gas from a “buy” rating to a “neutral” rating and decreased their price target for the company from $27.00 to $26.00 in a research note on Friday, January 31st. Finally, Truist Financial boosted their price target on Magnolia Oil & Gas from $33.00 to $34.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Magnolia Oil & Gas presently has an average rating of “Hold” and a consensus price target of $27.69.

Insider Buying and Selling

In other Magnolia Oil & Gas news, CEO Christopher G. Stavros acquired 2,500 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were bought at an average cost of $22.05 per share, with a total value of $55,125.00. Following the completion of the acquisition, the chief executive officer now owns 892,372 shares in the company, valued at approximately $19,676,802.60. This trade represents a 0.28 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.20% of the stock is currently owned by insiders.

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.