Barrow Hanley Mewhinney & Strauss LLC Has $14.45 Million Stock Position in Magnolia Oil & Gas Co. (NYSE:MGY)

Barrow Hanley Mewhinney & Strauss LLC lessened its holdings in shares of Magnolia Oil & Gas Co. (NYSE:MGY) by 4.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 618,131 shares of the company’s stock after selling 25,877 shares during the period. Barrow Hanley Mewhinney & Strauss LLC owned 0.31% of Magnolia Oil & Gas worth $14,452,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of MGY. FMR LLC lifted its holdings in Magnolia Oil & Gas by 174.9% during the 3rd quarter. FMR LLC now owns 34,851 shares of the company’s stock worth $851,000 after buying an additional 22,171 shares during the period. HighTower Advisors LLC bought a new position in shares of Magnolia Oil & Gas during the third quarter worth about $353,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Magnolia Oil & Gas by 4.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,076,541 shares of the company’s stock worth $48,550,000 after acquiring an additional 85,524 shares during the period. Ashton Thomas Private Wealth LLC bought a new stake in Magnolia Oil & Gas in the fourth quarter valued at approximately $590,000. Finally, Citigroup Inc. increased its position in Magnolia Oil & Gas by 30.6% during the 3rd quarter. Citigroup Inc. now owns 313,778 shares of the company’s stock valued at $7,662,000 after purchasing an additional 73,431 shares during the period. Institutional investors own 94.73% of the company’s stock.

Insider Buying and Selling at Magnolia Oil & Gas

In other Magnolia Oil & Gas news, CEO Christopher G. Stavros bought 2,500 shares of Magnolia Oil & Gas stock in a transaction that occurred on Monday, March 3rd. The shares were bought at an average price of $22.05 per share, with a total value of $55,125.00. Following 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.20% of the company’s stock.

Wall Street Analysts Forecast Growth

MGY has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. dropped their price target on shares of Magnolia Oil & Gas from $28.00 to $24.00 and set a “neutral” rating on the stock in a research report on Thursday, March 13th. Williams Trading set a $29.00 price target on shares of Magnolia Oil & Gas in a research report on Wednesday, March 5th. Truist Financial lifted their price objective on Magnolia Oil & Gas from $33.00 to $34.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Mizuho upped their target price on Magnolia Oil & Gas from $27.00 to $28.00 and gave the company a “neutral” rating in a research report on Monday, December 16th. Finally, The Goldman Sachs Group downgraded Magnolia Oil & Gas from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $27.00 to $26.00 in a report on Friday, January 31st. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Magnolia Oil & Gas presently has an average rating of “Hold” and an average target price of $27.77.

Magnolia Oil & Gas Stock Performance

MGY opened at $25.21 on Monday. Magnolia Oil & Gas Co. has a 1-year low of $21.63 and a 1-year high of $29.02. The company has a market cap of $4.89 billion, a price-to-earnings ratio of 13.06, a PEG ratio of 3.01 and a beta of 1.90. The company’s fifty day moving average price is $24.08 and its two-hundred day moving average price is $25.09. The company has a current ratio of 1.42, a quick ratio of 1.47 and a debt-to-equity ratio of 0.20.

Magnolia Oil & Gas (NYSE:MGY) last announced its quarterly earnings results 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. Magnolia Oil & Gas had a return on equity of 20.74% and a net margin of 27.82%. The business had revenue of $326.61 million during the quarter, compared to the consensus estimate of $327.40 million. On average, analysts expect that Magnolia Oil & Gas Co. will post 2.1 EPS for the current fiscal year.

Magnolia Oil & Gas Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were given a dividend of $0.15 per share. The ex-dividend date was Friday, February 14th. This represents a $0.60 annualized dividend and a dividend yield of 2.38%. This is an increase from Magnolia Oil & Gas’s previous quarterly dividend of $0.13. Magnolia Oil & Gas’s dividend payout ratio 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.