Magnolia Oil & Gas Co. (NYSE:MGY) Shares Sold by Great Lakes Advisors LLC

Great Lakes Advisors LLC lowered its position in Magnolia Oil & Gas Co. (NYSE:MGY) by 11.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 183,149 shares of the company’s stock after selling 23,601 shares during the period. Great Lakes Advisors LLC owned about 0.09% of Magnolia Oil & Gas worth $4,282,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. First Horizon Advisors Inc. raised its position in shares of Magnolia Oil & Gas by 64.7% in the third quarter. First Horizon Advisors Inc. now owns 1,008 shares of the company’s stock worth $25,000 after acquiring an additional 396 shares during the period. Mather Group LLC. raised its position in shares of Magnolia Oil & Gas by 100.0% during the 4th quarter. Mather Group LLC. now owns 1,090 shares of the company’s stock worth $25,000 after purchasing an additional 545 shares during the last quarter. Larson Financial Group LLC raised its position in shares of Magnolia Oil & Gas by 112.3% during the 4th quarter. Larson Financial Group LLC now owns 1,072 shares of the company’s stock worth $25,000 after purchasing an additional 567 shares during the last quarter. R Squared Ltd acquired a new position in shares of Magnolia Oil & Gas during the 4th quarter worth about $43,000. Finally, Avior Wealth Management LLC raised 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 purchasing an additional 506 shares during the last quarter. Institutional investors and hedge funds own 94.73% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on MGY shares. Truist Financial increased their price objective on shares of Magnolia Oil & Gas from $33.00 to $34.00 and gave the company a “buy” rating in a report on Monday, January 13th. The Goldman Sachs Group downgraded shares of Magnolia Oil & Gas from a “buy” rating to a “neutral” rating and cut their price target for the stock from $27.00 to $26.00 in a report on Friday, January 31st. Bank of America restated a “neutral” rating and set a $28.00 price target (down previously from $29.00) on shares of Magnolia Oil & Gas in a report on Monday, January 13th. JPMorgan Chase & Co. cut their price target on shares of Magnolia Oil & Gas from $28.00 to $24.00 and set a “neutral” rating for the company in a report on Thursday. Finally, Williams Trading set a $29.00 price target on shares of Magnolia Oil & Gas in a report on Wednesday, March 5th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Magnolia Oil & Gas has a consensus rating of “Hold” and an average target price of $27.77.

Insider Buying and Selling at Magnolia Oil & Gas

In other news, CEO Christopher G. Stavros acquired 2,500 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was acquired at an average cost of $22.05 per share, with a total value of $55,125.00. Following the transaction, 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 transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.20% of the stock is currently owned by corporate insiders.

Magnolia Oil & Gas Stock Up 3.2 %

Magnolia Oil & Gas stock opened at $23.27 on Friday. 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 fifty-two week low of $21.63 and a fifty-two week high of $29.02. The company has a market capitalization of $4.52 billion, a PE ratio of 12.06, a price-to-earnings-growth ratio of 3.01 and a beta of 1.90. The firm has a 50 day moving average price of $24.12 and a 200 day moving average price of $25.05.

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

Magnolia Oil & Gas Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 2.58%. 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%.

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.