Magnolia Oil & Gas Co. (NYSE:MGY) Stock Position Lessened by Victory Capital Management Inc.

Victory Capital Management Inc. decreased its holdings in Magnolia Oil & Gas Co. (NYSE:MGY) by 12.3% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,672,600 shares of the company’s stock after selling 653,086 shares during the quarter. Victory Capital Management Inc. owned 2.38% of Magnolia Oil & Gas worth $109,245,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Charles Schwab Investment Management Inc. grew its stake in shares of Magnolia Oil & Gas by 4.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,076,541 shares of the company’s stock worth $48,550,000 after purchasing an additional 85,524 shares in the last quarter. Smartleaf Asset Management LLC grew its stake in shares of Magnolia Oil & Gas by 95.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 3,777 shares of the company’s stock worth $88,000 after purchasing an additional 1,844 shares in the last quarter. Mutual of America Capital Management LLC grew its stake in shares of Magnolia Oil & Gas by 2.3% in the fourth quarter. Mutual of America Capital Management LLC now owns 28,937 shares of the company’s stock worth $677,000 after purchasing an additional 637 shares in the last quarter. Anchor Capital Advisors LLC grew its stake in shares of Magnolia Oil & Gas by 1.4% in the fourth quarter. Anchor Capital Advisors LLC now owns 101,236 shares of the company’s stock worth $2,367,000 after purchasing an additional 1,387 shares in the last quarter. Finally, Proficio Capital Partners LLC bought a new position in shares of Magnolia Oil & Gas in the fourth quarter worth $292,000. Institutional investors own 94.73% of the company’s stock.

Magnolia Oil & Gas Trading Down 0.1 %

Shares of NYSE MGY opened at $22.58 on Thursday. The business has a fifty day simple moving average of $24.18 and a 200-day simple moving average of $25.16. The company has a market cap of $4.38 billion, a price-to-earnings ratio of 11.70, a P/E/G ratio of 3.01 and a beta of 1.90. The company has a quick ratio of 1.47, a current ratio of 1.42 and a debt-to-equity ratio of 0.20. Magnolia Oil & Gas Co. has a 12 month low of $21.63 and a 12 month high of $29.02.

Magnolia Oil & Gas (NYSE:MGY) last announced its quarterly earnings data 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. The firm had revenue of $326.61 million during 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 predict that Magnolia Oil & Gas Co. will post 2.1 EPS for the current year.

Magnolia Oil & Gas Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were paid a $0.15 dividend. This is an increase from Magnolia Oil & Gas’s previous quarterly dividend of $0.13. This represents a $0.60 annualized dividend and a yield of 2.66%. The ex-dividend date of this dividend was Friday, February 14th. 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 on Monday, March 3rd. The shares were bought at an average cost of $22.05 per share, with a total value of $55,125.00. Following the transaction, the chief executive officer now directly owns 892,372 shares in the company, valued at approximately $19,676,802.60. This trade represents a 0.28 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.20% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on MGY. The Goldman Sachs Group cut Magnolia Oil & Gas from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $27.00 to $26.00 in a research note on Friday, January 31st. Mizuho upped 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. Truist Financial upped their price objective on Magnolia Oil & Gas from $33.00 to $34.00 and gave the company a “buy” rating in a report on Monday, January 13th. Johnson Rice lowered Magnolia Oil & Gas from a “moderate buy” rating to a “hold” rating in a report on Tuesday, January 28th. Finally, Bank of America restated a “neutral” rating and issued a $28.00 price objective (down previously from $29.00) on shares of Magnolia Oil & Gas in a report on Monday, January 13th. 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 company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $27.58.

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.