Magnolia Oil & Gas Co. (NYSE:MGY) Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. decreased its position in shares of Magnolia Oil & Gas Co. (NYSE:MGY) by 11.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 205,210 shares of the company’s stock after selling 25,602 shares during the quarter. Russell Investments Group Ltd. owned 0.10% of Magnolia Oil & Gas worth $4,798,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MGY. FMR LLC increased its stake in shares of Magnolia Oil & Gas by 174.9% during the 3rd quarter. FMR LLC now owns 34,851 shares of the company’s stock worth $851,000 after purchasing an additional 22,171 shares in the last quarter. HighTower Advisors LLC purchased a new stake in Magnolia Oil & Gas during the 3rd quarter worth about $353,000. Charles Schwab Investment Management Inc. raised its stake in Magnolia Oil & Gas by 4.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,076,541 shares of the company’s stock valued at $48,550,000 after purchasing an additional 85,524 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in Magnolia Oil & Gas in the 4th quarter valued at about $590,000. Finally, Proficio Capital Partners LLC purchased a new position in shares of Magnolia Oil & Gas during the fourth quarter valued at approximately $292,000. 94.73% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently weighed in on MGY. Truist Financial increased their target price on Magnolia Oil & Gas from $33.00 to $34.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Piper Sandler boosted their price objective on shares of Magnolia Oil & Gas from $24.00 to $26.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. Bank of America restated a “neutral” rating and issued a $28.00 price objective (down from $29.00) on shares of Magnolia Oil & Gas in a report on Monday, January 13th. Citigroup cut their target price on shares of Magnolia Oil & Gas from $22.00 to $19.00 and set a “sell” rating on the stock in a research note on Tuesday, April 8th. Finally, Williams Trading set a $29.00 price objective on Magnolia Oil & Gas in a research note on Wednesday, March 5th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $27.54.

Insider Activity at Magnolia Oil & Gas

In other Magnolia Oil & Gas news, CEO Christopher G. Stavros purchased 2,500 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was bought at an average price 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 in the company, valued at $19,676,802.60. This trade represents a 0.28 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.20% of the stock is currently owned by insiders.

Magnolia Oil & Gas Price Performance

Shares of MGY stock opened at $20.27 on Tuesday. The firm has a market cap of $3.94 billion, a P/E ratio of 10.50, a P/E/G ratio of 3.01 and a beta of 1.57. Magnolia Oil & Gas Co. has a 1-year low of $19.09 and a 1-year high of $29.02. The firm has a fifty day moving average of $23.31 and a two-hundred day moving average of $24.83. 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 results on Tuesday, February 18th. The company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.46 by $0.03. The business had revenue of $326.61 million during the quarter, compared to analyst estimates of $327.40 million. Magnolia Oil & Gas had a net margin of 27.82% and a return on equity of 20.74%. As a group, research 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 company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.96%. 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. Magnolia Oil & Gas’s dividend payout ratio (DPR) is 31.09%.

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.