Magnolia Oil & Gas Co. (NYSE:MGY) Shares Sold by Invesco Ltd.

Invesco Ltd. lessened its stake in shares of Magnolia Oil & Gas Co. (NYSE:MGY) by 8.8% during the fourth quarter, HoldingsChannel reports. The firm owned 960,344 shares of the company’s stock after selling 93,034 shares during the period. Invesco Ltd.’s holdings in Magnolia Oil & Gas were worth $22,453,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Albert D Mason Inc. lifted its position in Magnolia Oil & Gas by 0.7% during the 4th quarter. Albert D Mason Inc. now owns 61,497 shares of the company’s stock worth $1,438,000 after acquiring an additional 411 shares in the last quarter. Isthmus Partners LLC lifted its position in shares of Magnolia Oil & Gas by 5.2% during the fourth quarter. Isthmus Partners LLC now owns 9,320 shares of the company’s stock worth $218,000 after purchasing an additional 460 shares in the last quarter. Avior Wealth Management LLC boosted its stake in shares of Magnolia Oil & Gas by 30.0% in the fourth quarter. Avior Wealth Management LLC now owns 2,194 shares of the company’s stock valued at $51,000 after purchasing an additional 506 shares during the period. Mather Group LLC. grew its holdings in Magnolia Oil & Gas by 100.0% during the 4th quarter. Mather Group LLC. now owns 1,090 shares of the company’s stock valued at $25,000 after purchasing an additional 545 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in Magnolia Oil & Gas by 1.4% during the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 40,783 shares of the company’s stock worth $954,000 after buying an additional 564 shares during the period. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Insider Buying and Selling at Magnolia Oil & Gas

In other news, CEO Christopher G. Stavros bought 2,500 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was purchased at an average price of $22.05 per share, for a total transaction of $55,125.00. Following the transaction, the chief executive officer now owns 892,372 shares in the company, valued at approximately $19,676,802.60. This trade represents a 0.28 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 1.20% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

MGY has been the subject of several recent analyst reports. JPMorgan Chase & Co. lowered their target price on Magnolia Oil & Gas from $28.00 to $24.00 and set a “neutral” rating for the company in a research note on Thursday, March 13th. Bank of America restated a “neutral” rating and set a $28.00 price objective (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 target price on Magnolia Oil & Gas in a research report on Wednesday, March 5th. Citigroup decreased their price target on shares of Magnolia Oil & Gas from $22.00 to $19.00 and set a “sell” rating for the company in a research report on Tuesday, April 8th. Finally, Piper Sandler lifted their price target on shares of Magnolia Oil & Gas from $24.00 to $26.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Magnolia Oil & Gas presently has an average rating of “Hold” and a consensus target price of $27.54.

Magnolia Oil & Gas Trading Up 1.8 %

NYSE MGY opened at $21.10 on Friday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.47 and a current ratio of 1.42. Magnolia Oil & Gas Co. has a one year low of $19.09 and a one year high of $29.02. The company has a 50-day simple moving average of $23.11 and a 200-day simple moving average of $24.72. The firm has a market capitalization of $4.10 billion, a PE ratio of 10.93, a price-to-earnings-growth ratio of 3.01 and a beta of 1.57.

Magnolia Oil & Gas (NYSE:MGY) last issued its earnings results on Tuesday, February 18th. The company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.03. The company had revenue of $326.61 million during the quarter, compared to the consensus estimate of $327.40 million. Magnolia Oil & Gas had a return on equity of 20.74% and a net margin of 27.82%. On average, equities analysts forecast that Magnolia Oil & Gas Co. will post 2.1 earnings per share for the current 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 $0.15 dividend. The ex-dividend date was Friday, February 14th. 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 2.84%. Magnolia Oil & Gas’s dividend payout ratio (DPR) is currently 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.