Cynosure Group LLC Cuts Position in Magnolia Oil & Gas Co. (NYSE:MGY)

Cynosure Group LLC trimmed its holdings in shares of Magnolia Oil & Gas Co. (NYSE:MGY) by 7.5% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 13,067 shares of the company’s stock after selling 1,057 shares during the period. Cynosure Group LLC’s holdings in Magnolia Oil & Gas were worth $306,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Bryce Point Capital LLC purchased a new position in Magnolia Oil & Gas during the fourth quarter valued at $1,183,000. Headlands Technologies LLC bought a new position in shares of Magnolia Oil & Gas during the fourth quarter valued at $161,000. Geode Capital Management LLC raised its position in shares of Magnolia Oil & Gas by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 4,136,456 shares of the company’s stock worth $96,733,000 after purchasing an additional 28,687 shares during the last quarter. Wellington Management Group LLP raised its position in shares of Magnolia Oil & Gas by 0.5% in the 4th quarter. Wellington Management Group LLP now owns 5,020,646 shares of the company’s stock worth $117,383,000 after purchasing an additional 26,943 shares during the last quarter. Finally, Brandywine Global Investment Management LLC boosted its stake in Magnolia Oil & Gas by 25.6% in the 4th quarter. Brandywine Global Investment Management LLC now owns 585,752 shares of the company’s stock worth $13,695,000 after purchasing an additional 119,240 shares in the last quarter. 94.73% of the stock is owned by institutional investors.

Magnolia Oil & Gas Trading Up 0.9 %

NYSE:MGY opened at $25.74 on Thursday. Magnolia Oil & Gas Co. has a one year low of $21.63 and a one year high of $29.02. The business has a fifty day moving average price of $24.03 and a 200-day moving average price of $25.12. The firm has a market capitalization of $5.00 billion, a price-to-earnings ratio of 13.34, a price-to-earnings-growth ratio of 3.01 and a beta of 1.57. 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 quarterly earnings data on Tuesday, February 18th. The company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.46 by $0.03. The firm had revenue of $326.61 million for the quarter, compared to the consensus estimate of $327.40 million. Magnolia Oil & Gas had a return on equity of 20.74% and a net margin of 27.82%. Sell-side analysts forecast that Magnolia Oil & Gas Co. will post 2.1 EPS for the current year.

Magnolia Oil & Gas Increases Dividend

The firm also recently declared 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 is a boost from Magnolia Oil & Gas’s previous quarterly dividend of $0.13. This represents a $0.60 dividend on an annualized basis and a yield of 2.33%. Magnolia Oil & Gas’s payout ratio is currently 31.09%.

Insiders Place Their Bets

In related news, CEO Christopher G. Stavros bought 2,500 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was bought at an average cost of $22.05 per share, with a total value of $55,125.00. Following the completion of the purchase, the chief executive officer now owns 892,372 shares of the company’s stock, valued at approximately $19,676,802.60. The trade was a 0.28 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.20% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have issued reports on MGY. Bank of America reaffirmed a “neutral” rating and issued a $28.00 target price (down from $29.00) on shares of Magnolia Oil & Gas in a report on Monday, January 13th. Williams Trading set a $29.00 price objective on shares of Magnolia Oil & Gas in a report on Wednesday, March 5th. Truist Financial increased their target price on Magnolia Oil & Gas from $33.00 to $34.00 and gave the company a “buy” rating in a research note on Monday, January 13th. JPMorgan Chase & Co. decreased their price target on Magnolia Oil & Gas from $28.00 to $24.00 and set a “neutral” rating for the company in a research note on Thursday, March 13th. Finally, Mizuho increased their price objective 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. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $27.77.

Magnolia Oil & Gas Company 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.