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 its most recent Form 13F filing with the SEC. The fund owned 99,569 shares of the company’s stock after selling 2,548 shares during the period. Commonwealth Equity Services LLC owned 0.05% of Magnolia Oil & Gas worth $2,328,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Mather Group LLC. lifted its stake in shares of Magnolia Oil & Gas by 100.0% in the 4th quarter. Mather Group LLC. now owns 1,090 shares of the company’s stock valued at $25,000 after purchasing an additional 545 shares during the last quarter. Larson Financial Group LLC lifted its position in Magnolia Oil & Gas by 112.3% in the fourth quarter. Larson Financial Group LLC now owns 1,072 shares of the company’s stock valued at $25,000 after buying an additional 567 shares during the last quarter. R Squared Ltd purchased a new position in Magnolia Oil & Gas during the fourth quarter worth about $43,000. Avior Wealth Management LLC increased its position in shares of Magnolia Oil & Gas by 30.0% during the fourth quarter. Avior Wealth Management LLC now owns 2,194 shares of the company’s stock valued at $51,000 after acquiring an additional 506 shares during the last quarter. Finally, Smartleaf Asset Management LLC raised its stake in shares of Magnolia Oil & Gas by 95.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 3,777 shares of the company’s stock valued at $88,000 after acquiring an additional 1,844 shares during the period. 94.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Bank of America reaffirmed a “neutral” rating and set a $28.00 price objective (down previously from $29.00) on shares of Magnolia Oil & Gas in a research report on Monday, January 13th. Williams Trading set a $29.00 price objective on Magnolia Oil & Gas in a research note on Wednesday, March 5th. Mizuho boosted their price objective on Magnolia Oil & Gas from $27.00 to $28.00 and gave the company a “neutral” rating in a report on Monday, December 16th. Johnson Rice cut Magnolia Oil & Gas from a “moderate buy” rating to a “hold” rating in a report on Tuesday, January 28th. Finally, Piper Sandler boosted their price target on shares of Magnolia Oil & Gas from $24.00 to $26.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $27.77.

Insider Activity at Magnolia Oil & Gas

In other news, CEO Christopher G. Stavros bought 2,500 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were acquired at an average price of $22.05 per share, for a total transaction of $55,125.00. Following the completion of the transaction, the chief executive officer now owns 892,372 shares of the company’s stock, 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 accessible through this link. 1.20% of the stock is owned by corporate insiders.

Magnolia Oil & Gas Stock Up 1.1 %

Magnolia Oil & Gas stock opened at $25.63 on Thursday. The stock’s fifty day moving average is $24.13 and its two-hundred day moving average is $25.05. The stock has a market cap of $4.98 billion, a PE ratio of 13.28, a P/E/G ratio of 3.01 and a beta of 1.90. Magnolia Oil & Gas Co. has a 1-year low of $21.63 and a 1-year high of $29.02. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.42 and a quick ratio of 1.47.

Magnolia Oil & Gas (NYSE:MGY) last posted its earnings results on Tuesday, February 18th. The company reported $0.49 earnings per share 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 analysts’ expectations of $327.40 million. Magnolia Oil & Gas had a return on equity of 20.74% and a net margin of 27.82%. On average, sell-side 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 declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were paid a dividend of $0.15 per share. This is a positive change from Magnolia Oil & Gas’s previous quarterly dividend of $0.13. This represents a $0.60 annualized dividend and a yield of 2.34%. The ex-dividend date was Friday, February 14th. 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.