Cerity Partners LLC Has $3.02 Million Holdings in Magnolia Oil & Gas Co. (NYSE:MGY)

Cerity Partners LLC decreased its holdings in shares of Magnolia Oil & Gas Co. (NYSE:MGY) by 1.6% in the 4th quarter, Holdings Channel reports. The fund owned 124,081 shares of the company’s stock after selling 2,014 shares during the period. Cerity Partners LLC’s holdings in Magnolia Oil & Gas were worth $3,018,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in MGY. Larson Financial Group LLC increased its position in Magnolia Oil & Gas by 112.3% during the 4th quarter. Larson Financial Group LLC now owns 1,072 shares of the company’s stock worth $25,000 after purchasing an additional 567 shares in the last quarter. Mather Group LLC. increased its holdings in shares of Magnolia Oil & Gas by 100.0% during the fourth quarter. Mather Group LLC. now owns 1,090 shares of the company’s stock worth $25,000 after buying an additional 545 shares in the last quarter. R Squared Ltd bought a new position in shares of Magnolia Oil & Gas in the 4th quarter valued at $43,000. Avior Wealth Management LLC boosted its holdings in shares of Magnolia Oil & Gas by 30.0% during the 4th quarter. Avior Wealth Management LLC now owns 2,194 shares of the company’s stock valued at $51,000 after acquiring an additional 506 shares in the last quarter. Finally, Smartleaf Asset Management LLC increased its holdings in Magnolia Oil & Gas by 95.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 3,777 shares of the company’s stock worth $88,000 after purchasing an additional 1,844 shares in the last quarter. Institutional investors own 94.73% of the company’s stock.

Insider Transactions at Magnolia Oil & Gas

In other news, CEO Christopher G. Stavros purchased 2,500 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were acquired at an average price of $22.05 per share, for a total transaction of $55,125.00. Following the completion of the acquisition, the chief executive officer now owns 892,372 shares in the company, valued at approximately $19,676,802.60. The trade was a 0.28 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.20% of the company’s stock.

Magnolia Oil & Gas Stock Down 0.5 %

Shares of Magnolia Oil & Gas stock opened at $20.27 on Tuesday. The firm has a market cap of $3.94 billion, a price-to-earnings ratio of 10.50, a PEG ratio of 3.01 and a beta of 1.57. The stock’s 50-day moving average is $23.31 and its 200 day moving average is $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 Co. has a one year low of $19.09 and a one year high of $29.02.

Magnolia Oil & Gas (NYSE:MGY) last announced its quarterly earnings data on Tuesday, February 18th. The company reported $0.49 EPS 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 company had revenue of $326.61 million during the quarter, compared to the consensus estimate of $327.40 million. Equities research analysts anticipate that Magnolia Oil & Gas Co. will post 2.1 EPS for the current year.

Magnolia Oil & Gas Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.60 annualized dividend and a dividend yield of 2.96%. This is a positive change from Magnolia Oil & Gas’s previous quarterly dividend of $0.13. Magnolia Oil & Gas’s dividend payout ratio is currently 31.09%.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Bank of America reissued a “neutral” rating and set a $28.00 price target (down from $29.00) on shares of Magnolia Oil & Gas in a research note on Monday, January 13th. Piper Sandler boosted their target price on shares of Magnolia Oil & Gas from $24.00 to $26.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. The Goldman Sachs Group downgraded shares of Magnolia Oil & Gas from a “buy” rating to a “neutral” rating and dropped their price target for the company from $27.00 to $26.00 in a research note on Friday, January 31st. Johnson Rice cut shares of Magnolia Oil & Gas from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, January 28th. Finally, Truist Financial raised 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. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $27.54.

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.