US Bancorp DE Lowers Stock Holdings in Magnolia Oil & Gas Co. (NYSE:MGY)

US Bancorp DE trimmed its holdings in shares of Magnolia Oil & Gas Co. (NYSE:MGY) by 55.4% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 13,120 shares of the company’s stock after selling 16,302 shares during the period. US Bancorp DE’s holdings in Magnolia Oil & Gas were worth $307,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. 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 valued at $261,300,000 after purchasing an additional 435,326 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Magnolia Oil & Gas by 2.9% during the third quarter. Geode Capital Management LLC now owns 4,107,769 shares of the company’s stock valued at $100,332,000 after purchasing an additional 116,431 shares during the last quarter. Boston Trust Walden Corp lifted its holdings in shares of Magnolia Oil & Gas by 9.5% during the fourth quarter. Boston Trust Walden Corp now owns 3,090,587 shares of the company’s stock valued at $72,258,000 after purchasing an additional 267,461 shares during the last quarter. Systematic Financial Management LP raised its holdings in Magnolia Oil & Gas by 7.5% in the 3rd quarter. Systematic Financial Management LP now owns 2,920,018 shares of the company’s stock worth $71,307,000 after acquiring an additional 203,514 shares during the last quarter. Finally, Loomis Sayles & Co. L P raised its holdings in Magnolia Oil & Gas by 10.0% in the 3rd quarter. Loomis Sayles & Co. L P now owns 2,782,550 shares of the company’s stock worth $67,950,000 after acquiring an additional 253,911 shares during the last quarter. 94.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MGY has been the subject of a number of recent analyst reports. The Goldman Sachs Group lowered shares of Magnolia Oil & Gas from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $27.00 to $26.00 in a report on Friday, January 31st. Bank of America restated a “neutral” rating and issued a $28.00 price objective (down from $29.00) on shares of Magnolia Oil & Gas in a report on Monday, January 13th. Truist Financial boosted their price objective on shares of Magnolia Oil & Gas from $33.00 to $34.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Mizuho boosted their price objective on shares of Magnolia Oil & Gas from $27.00 to $28.00 and gave the stock a “neutral” rating in a report on Monday, December 16th. Finally, Johnson Rice lowered shares of Magnolia Oil & Gas from a “moderate buy” rating to a “hold” rating in a report on Tuesday, January 28th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $27.77.

Magnolia Oil & Gas Trading Down 2.5 %

Shares of MGY stock opened at $22.51 on Friday. Magnolia Oil & Gas Co. has a 1 year low of $21.63 and a 1 year high of $29.02. The firm has a fifty day moving average price of $24.13 and a 200-day moving average price of $25.06. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.42 and a quick ratio of 1.47. The company has a market cap of $4.37 billion, a price-to-earnings ratio of 11.66, a PEG ratio of 3.01 and a beta of 1.90.

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, beating analysts’ consensus estimates 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 firm had revenue of $326.61 million during the quarter, compared to the consensus estimate of $327.40 million. As a group, equities analysts predict that Magnolia Oil & Gas Co. will post 2.1 earnings per share 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 issued a $0.15 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.60 annualized dividend and a yield of 2.67%. 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%.

Insider Buying and Selling

In other news, CEO Christopher G. Stavros bought 2,500 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was 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 of the company’s stock, valued at approximately $19,676,802.60. This represents a 0.28 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.20% of the stock is currently owned by insiders.

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.