Ameritas Investment Partners Inc. Lowers Holdings in Magnolia Oil & Gas Co. (NYSE:MGY)

Ameritas Investment Partners Inc. decreased its holdings in Magnolia Oil & Gas Co. (NYSE:MGY) by 3.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 17,651 shares of the company’s stock after selling 579 shares during the quarter. Ameritas Investment Partners Inc.’s holdings in Magnolia Oil & Gas were worth $458,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Mather Group LLC. purchased a new position in shares of Magnolia Oil & Gas in the first quarter valued at approximately $27,000. Private Wealth Management Group LLC acquired a new position in Magnolia Oil & Gas during the 4th quarter worth approximately $33,000. Lindbrook Capital LLC increased its position in shares of Magnolia Oil & Gas by 61.5% in the 1st quarter. Lindbrook Capital LLC now owns 1,647 shares of the company’s stock valued at $43,000 after purchasing an additional 627 shares during the last quarter. Fidelis Capital Partners LLC acquired a new stake in shares of Magnolia Oil & Gas in the 1st quarter valued at $50,000. Finally, Quadrant Capital Group LLC lifted its position in shares of Magnolia Oil & Gas by 40.4% during the 4th quarter. Quadrant Capital Group LLC now owns 4,623 shares of the company’s stock worth $98,000 after purchasing an additional 1,331 shares during the last quarter. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Analyst Ratings Changes

MGY has been the topic of several recent analyst reports. Susquehanna increased their target price on Magnolia Oil & Gas from $31.00 to $33.00 and gave the company a “positive” rating in a report on Monday. The Goldman Sachs Group increased their price objective on Magnolia Oil & Gas from $24.50 to $28.00 and gave the company a “buy” rating in a report on Tuesday, March 26th. Bank of America boosted their target price on Magnolia Oil & Gas from $28.00 to $29.00 and gave the stock a “buy” rating in a research note on Tuesday. Piper Sandler reiterated a “neutral” rating and issued a $29.00 price target on shares of Magnolia Oil & Gas in a research note on Friday, April 19th. Finally, Wells Fargo & Company raised their price objective on shares of Magnolia Oil & Gas from $23.00 to $27.00 and gave the stock an “equal weight” rating in a report on Thursday, April 18th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $29.00.

Insider Activity

In related news, Director John B. Walker sold 12,000,000 shares of the stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $25.58, for a total transaction of $306,960,000.00. Following the completion of the transaction, the director now directly owns 4,164,961 shares of the company’s stock, valued at $106,539,702.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.20% of the company’s stock.

Magnolia Oil & Gas Stock Performance

Shares of NYSE:MGY traded down $0.22 on Wednesday, reaching $25.68. The company’s stock had a trading volume of 1,636,567 shares, compared to its average volume of 2,767,768. The stock’s 50-day moving average is $25.36 and its two-hundred day moving average is $24.10. Magnolia Oil & Gas Co. has a 52-week low of $19.16 and a 52-week high of $27.62. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.71 and a quick ratio of 1.71. The stock has a market capitalization of $5.21 billion, a P/E ratio of 12.89, a PEG ratio of 1.50 and a beta of 2.02.

Magnolia Oil & Gas (NYSE:MGY) last announced its earnings results on Tuesday, May 7th. The company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.05. Magnolia Oil & Gas had a net margin of 30.46% and a return on equity of 20.41%. The business had revenue of $319.42 million during the quarter, compared to analysts’ expectations of $308.21 million. As a group, sell-side analysts forecast that Magnolia Oil & Gas Co. will post 2.23 EPS for the current year.

Magnolia Oil & Gas Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Monday, May 13th were issued a $0.13 dividend. The ex-dividend date of this dividend was Friday, May 10th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.02%. Magnolia Oil & Gas’s payout ratio is 25.87%.

About Magnolia Oil & Gas

Magnolia Oil & Gas Corporation, an independent oil and natural gas company, engages in the acquisition, development, exploration, and production of oil, natural gas, and natural gas liquids reserves in the United States. Its properties are located primarily in Karnes County and the Giddings area in South Texas principally comprising the Eagle Ford Shale and the Austin Chalk formation.