Diamond Hill Capital Management Inc. Has $12.12 Million Stock Position in Magnolia Oil & Gas Co. (NYSE:MGY)

Diamond Hill Capital Management Inc. reduced its stake in shares of Magnolia Oil & Gas Co. (NYSE:MGY) by 8.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 518,417 shares of the company’s stock after selling 47,522 shares during the quarter. Diamond Hill Capital Management Inc. owned 0.26% of Magnolia Oil & Gas worth $12,121,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of MGY. Atria Investments Inc grew its holdings in shares of Magnolia Oil & Gas by 2.3% during the 3rd quarter. Atria Investments Inc now owns 23,576 shares of the company’s stock worth $576,000 after purchasing an additional 523 shares in the last quarter. State of New Jersey Common Pension Fund D grew its holdings in shares of Magnolia Oil & Gas by 4.4% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 77,092 shares of the company’s stock worth $1,883,000 after purchasing an additional 3,230 shares in the last quarter. OneDigital Investment Advisors LLC grew its holdings in shares of Magnolia Oil & Gas by 6.5% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 15,304 shares of the company’s stock worth $374,000 after purchasing an additional 933 shares in the last quarter. Valley Wealth Managers Inc. grew its holdings in shares of Magnolia Oil & Gas by 1.9% during the 3rd quarter. Valley Wealth Managers Inc. now owns 673,064 shares of the company’s stock worth $16,436,000 after purchasing an additional 12,676 shares in the last quarter. Finally, Natixis Advisors LLC grew its holdings in shares of Magnolia Oil & Gas by 3.5% during the 3rd quarter. Natixis Advisors LLC now owns 96,936 shares of the company’s stock worth $2,367,000 after purchasing an additional 3,238 shares in the last quarter. 94.73% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Magnolia Oil & Gas

In other Magnolia Oil & Gas news, CEO Christopher G. Stavros bought 2,500 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The stock was acquired at an average price of $22.05 per share, with a total value of $55,125.00. Following the completion of the purchase, the chief executive officer now directly 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 position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 1.20% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

MGY has been the subject of several recent analyst reports. Bank of America restated a “neutral” rating and set a $28.00 price objective (down from $29.00) on shares of Magnolia Oil & Gas in a research report on Monday, January 13th. Mizuho upped their price objective on Magnolia Oil & Gas from $27.00 to $28.00 and gave the stock a “neutral” rating in a research report on Monday, December 16th. Johnson Rice downgraded Magnolia Oil & Gas from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, January 28th. The Goldman Sachs Group downgraded Magnolia Oil & Gas from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $27.00 to $26.00 in a research report on Friday, January 31st. Finally, JPMorgan Chase & Co. dropped their price objective on Magnolia Oil & Gas from $28.00 to $24.00 and set a “neutral” rating for the company in a research report on Thursday. Two equities 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. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $27.77.

Magnolia Oil & Gas Price Performance

Magnolia Oil & Gas stock opened at $23.27 on Friday. The company has a current ratio of 1.42, a quick ratio of 1.47 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $4.52 billion, a PE ratio of 12.06, a P/E/G ratio of 3.01 and a beta of 1.90. Magnolia Oil & Gas Co. has a 12 month low of $21.63 and a 12 month high of $29.02. The stock has a 50-day moving average price of $24.12 and a two-hundred day moving average price of $25.05.

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, topping analysts’ consensus estimates 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 company had revenue of $326.61 million during the quarter, compared to the consensus estimate of $327.40 million. Analysts expect that Magnolia Oil & Gas Co. will post 2.1 EPS for the current year.

Magnolia Oil & Gas Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.58%. This is an increase from Magnolia Oil & Gas’s previous quarterly dividend of $0.13. The ex-dividend date was Friday, February 14th. Magnolia Oil & Gas’s dividend payout ratio (DPR) is 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.