American Century Companies Inc. Sells 602,532 Shares of Magnolia Oil & Gas Co. (NYSE:MGY)

American Century Companies Inc. decreased its holdings in Magnolia Oil & Gas Co. (NYSE:MGY) by 5.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 9,940,130 shares of the company’s stock after selling 602,532 shares during the quarter. American Century Companies Inc. owned approximately 5.06% of Magnolia Oil & Gas worth $232,400,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. First Horizon Advisors Inc. raised its position in shares of Magnolia Oil & Gas by 64.7% during the third quarter. First Horizon Advisors Inc. now owns 1,008 shares of the company’s stock worth $25,000 after acquiring an additional 396 shares during the last quarter. Larson Financial Group LLC raised its position in shares of Magnolia Oil & Gas by 112.3% during the fourth quarter. Larson Financial Group LLC now owns 1,072 shares of the company’s stock worth $25,000 after acquiring an additional 567 shares during the last quarter. Mather Group LLC. raised its position in shares of Magnolia Oil & Gas by 100.0% during the fourth quarter. Mather Group LLC. now owns 1,090 shares of the company’s stock worth $25,000 after acquiring an additional 545 shares during the last quarter. R Squared Ltd bought a new stake in shares of Magnolia Oil & Gas during the fourth quarter worth $43,000. Finally, Avior Wealth Management LLC raised 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 worth $51,000 after acquiring an additional 506 shares during the last quarter. Institutional investors own 94.73% of the company’s stock.

Magnolia Oil & Gas Stock Down 1.2 %

MGY stock opened at $25.03 on Friday. 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 stock has a market capitalization of $4.86 billion, a P/E ratio of 12.97, a P/E/G ratio of 3.01 and a beta of 1.90. The business has a 50-day moving average of $24.16 and a 200-day moving average of $25.02. Magnolia Oil & Gas Co. has a fifty-two week low of $21.63 and a fifty-two week high of $29.02.

Magnolia Oil & Gas (NYSE:MGY) last released its 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 for the quarter, compared to analyst estimates of $327.40 million. On average, sell-side analysts anticipate that Magnolia Oil & Gas Co. will post 2.1 earnings per share 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. Investors of record on Friday, February 14th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 2.40%. The ex-dividend date was Friday, February 14th. This is a positive change from Magnolia Oil & Gas’s previous quarterly dividend of $0.13. Magnolia Oil & Gas’s dividend payout ratio is presently 31.09%.

Analyst Ratings Changes

A number of research firms have recently weighed in on MGY. Bank of America restated a “neutral” rating and set a $28.00 target price (down previously from $29.00) on shares of Magnolia Oil & Gas in a research report on Monday, January 13th. The Goldman Sachs Group cut 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 research note on Friday, January 31st. Johnson Rice cut Magnolia Oil & Gas from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, January 28th. Piper Sandler boosted their target price on Magnolia Oil & Gas from $24.00 to $26.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. Finally, Truist Financial boosted 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. 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 company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $27.77.

Insider Buying and Selling

In related news, CEO Christopher G. Stavros bought 2,500 shares of the company’s stock in a transaction that occurred on 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 acquisition, 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.40% of the stock is currently owned by corporate 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.