Aviva PLC Sells 2,600 Shares of Magnolia Oil & Gas Co. (NYSE:MGY)

Aviva PLC trimmed its position in Magnolia Oil & Gas Co. (NYSE:MGY) by 10.1% during the fourth quarter, HoldingsChannel.com reports. The fund owned 23,089 shares of the company’s stock after selling 2,600 shares during the period. Aviva PLC’s holdings in Magnolia Oil & Gas were worth $540,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of MGY. FMR LLC boosted its position in shares of Magnolia Oil & Gas by 174.9% during the third 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 acquired a new stake in Magnolia Oil & Gas during the 3rd quarter worth $353,000. XTX Topco Ltd lifted its holdings in Magnolia Oil & Gas by 92.5% during the third quarter. XTX Topco Ltd now owns 25,840 shares of the company’s stock worth $631,000 after acquiring an additional 12,420 shares in the last quarter. MML Investors Services LLC grew 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 valued at $233,000 after acquiring an additional 1,096 shares during the period. Finally, Barclays PLC grew 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 valued at $40,383,000 after acquiring an additional 636,049 shares during the period. Institutional investors own 94.73% of the company’s stock.

Magnolia Oil & Gas Price Performance

NYSE:MGY opened at $20.39 on Friday. Magnolia Oil & Gas Co. has a 52-week low of $19.09 and a 52-week high of $29.02. The company has a market cap of $3.96 billion, a P/E ratio of 10.56, a P/E/G ratio of 3.01 and a beta of 1.57. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.47 and a current ratio of 1.42. The stock’s 50-day simple moving average is $23.38 and its 200 day simple moving average is $24.85.

Magnolia Oil & Gas (NYSE:MGY) last posted 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 for the quarter, compared to analyst estimates of $327.40 million. Magnolia Oil & Gas had a return on equity of 20.74% and a net margin of 27.82%. As a group, sell-side analysts forecast that Magnolia Oil & Gas Co. will post 2.1 EPS for the current fiscal year.

Magnolia Oil & Gas Increases Dividend

The company also recently declared 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 is a positive change from Magnolia Oil & Gas’s previous quarterly dividend of $0.13. This represents a $0.60 annualized dividend and a yield of 2.94%. The ex-dividend date of this dividend was Friday, February 14th. Magnolia Oil & Gas’s dividend payout ratio is 31.09%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on MGY. Johnson Rice cut Magnolia Oil & Gas from a “moderate buy” rating to a “hold” rating in a report on Tuesday, January 28th. 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 company from $27.00 to $26.00 in a research note on Friday, January 31st. Mizuho increased their price objective on shares of Magnolia Oil & Gas from $27.00 to $28.00 and gave the stock a “neutral” rating in a research 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, March 13th. Finally, Bank of America reaffirmed a “neutral” rating and issued a $28.00 target price (down from $29.00) on shares of Magnolia Oil & Gas in a research note on Monday, January 13th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $27.54.

Insider Buying and Selling at Magnolia Oil & Gas

In other Magnolia Oil & Gas news, CEO Christopher G. Stavros purchased 2,500 shares of the stock in a transaction on 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 completion of the transaction, the chief executive officer now directly owns 892,372 shares in the company, valued at $19,676,802.60. This represents a 0.28 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.20% of the company’s stock.

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.