F M Investments LLC Reduces Stock Holdings in Magnolia Oil & Gas Co. (NYSE:MGY)

F M Investments LLC lessened its stake in shares of Magnolia Oil & Gas Co. (NYSE:MGY) by 66.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 155,069 shares of the company’s stock after selling 300,645 shares during the period. F M Investments LLC’s holdings in Magnolia Oil & Gas were worth $3,626,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. FMR LLC raised its stake in shares of Magnolia Oil & Gas by 174.9% in the third quarter. FMR LLC now owns 34,851 shares of the company’s stock valued at $851,000 after acquiring an additional 22,171 shares during the period. HighTower Advisors LLC bought a new position in Magnolia Oil & Gas during the 3rd quarter valued at about $353,000. XTX Topco Ltd raised its position in Magnolia Oil & Gas by 92.5% in the 3rd quarter. XTX Topco Ltd now owns 25,840 shares of the company’s stock worth $631,000 after purchasing an additional 12,420 shares during the period. MML Investors Services LLC lifted its stake in Magnolia Oil & Gas by 13.0% in the third quarter. MML Investors Services LLC now owns 9,522 shares of the company’s stock worth $233,000 after purchasing an additional 1,096 shares during the last quarter. Finally, Barclays PLC lifted its stake in Magnolia Oil & Gas by 62.5% in the third quarter. Barclays PLC now owns 1,653,736 shares of the company’s stock worth $40,383,000 after purchasing an additional 636,049 shares during the last quarter. 94.73% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Christopher G. Stavros acquired 2,500 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were 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 directly owns 892,372 shares in the company, valued at approximately $19,676,802.60. This represents a 0.28 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.20% of the company’s stock.

Magnolia Oil & Gas Stock Down 9.4 %

NYSE:MGY opened at $20.04 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 firm has a market cap of $3.89 billion, a PE ratio of 10.38, a price-to-earnings-growth ratio of 3.01 and a beta of 1.57. The company has a 50-day moving average of $23.45 and a 200 day moving average of $24.88. Magnolia Oil & Gas Co. has a 1-year low of $19.09 and a 1-year high of $29.02.

Magnolia Oil & Gas (NYSE:MGY) last announced 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. The firm had revenue of $326.61 million during the quarter, compared to analysts’ expectations 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 EPS 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. Shareholders of record on Friday, February 14th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 2.99%. 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%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on MGY shares. Bank of America reaffirmed a “neutral” rating and set a $28.00 target price (down previously from $29.00) on shares of Magnolia Oil & Gas in a research note on Monday, January 13th. Williams Trading set a $29.00 price objective on Magnolia Oil & Gas in a research report on Wednesday, March 5th. Truist Financial lifted 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. JPMorgan Chase & Co. cut their price target 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, March 13th. 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 research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Magnolia Oil & Gas presently has a consensus rating of “Hold” and a consensus price target of $27.54.

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.