Quantbot Technologies LP Sells 23,731 Shares of Magnolia Oil & Gas Co. (NYSE:MGY)

Quantbot Technologies LP lowered its position in Magnolia Oil & Gas Co. (NYSE:MGY) by 10.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 206,870 shares of the company’s stock after selling 23,731 shares during the period. Quantbot Technologies LP owned approximately 0.11% of Magnolia Oil & Gas worth $4,837,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in MGY. First Horizon Advisors Inc. raised its stake 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 valued at $25,000 after acquiring an additional 396 shares in the last quarter. Albert D Mason Inc. raised its stake in shares of Magnolia Oil & Gas by 0.7% during the fourth quarter. Albert D Mason Inc. now owns 61,497 shares of the company’s stock valued at $1,438,000 after acquiring an additional 411 shares in the last quarter. Isthmus Partners LLC raised its stake in shares of Magnolia Oil & Gas by 5.2% during the fourth quarter. Isthmus Partners LLC now owns 9,320 shares of the company’s stock valued at $218,000 after acquiring an additional 460 shares in the last quarter. Jennison Associates LLC raised its stake in Magnolia Oil & Gas by 2.2% in the third quarter. Jennison Associates LLC now owns 23,836 shares of the company’s stock worth $582,000 after buying an additional 506 shares in the last quarter. Finally, Avior Wealth Management LLC raised its stake in Magnolia Oil & Gas by 30.0% in the fourth quarter. Avior Wealth Management LLC now owns 2,194 shares of the company’s stock worth $51,000 after buying an additional 506 shares in the last quarter. Institutional investors own 94.73% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. The Goldman Sachs Group lowered shares of Magnolia Oil & Gas from a “buy” rating to a “neutral” rating and cut their price target for the stock from $27.00 to $26.00 in a report on Friday, January 31st. Williams Trading set a $29.00 price target on shares of Magnolia Oil & Gas in a report on Wednesday, March 5th. Mizuho lifted their price target on shares of Magnolia Oil & Gas from $27.00 to $28.00 and gave the stock a “neutral” rating in a report on Monday, December 16th. JPMorgan Chase & Co. dropped their price objective on shares of Magnolia Oil & Gas from $28.00 to $24.00 and set a “neutral” rating on the stock in a report on Thursday. Finally, Johnson Rice lowered shares of Magnolia Oil & Gas from a “moderate buy” rating to a “hold” rating in a report on Tuesday, January 28th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, Magnolia Oil & Gas has an average rating of “Hold” and a consensus target price of $27.77.

Insider Activity at Magnolia Oil & Gas

In related news, CEO Christopher G. Stavros acquired 2,500 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was purchased at an average price of $22.05 per share, with a total value of $55,125.00. Following 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 position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. 1.20% of the stock is owned by corporate insiders.

Magnolia Oil & Gas Trading Up 3.2 %

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

Magnolia Oil & Gas (NYSE:MGY) last released its quarterly 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. Magnolia Oil & Gas had a net margin of 27.82% and a return on equity of 20.74%. The firm had revenue of $326.61 million during the quarter, compared to the consensus estimate of $327.40 million. As a group, equities analysts predict 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 declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 2.58%. The ex-dividend date was Friday, February 14th. This is an increase from Magnolia Oil & Gas’s previous quarterly dividend of $0.13. Magnolia Oil & Gas’s dividend payout ratio is 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.