F M Investments LLC Sells 300,645 Shares of Magnolia Oil & Gas Co. (NYSE:MGY)

F M Investments LLC decreased its position in Magnolia Oil & Gas Co. (NYSE:MGY) by 66.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 155,069 shares of the company’s stock after selling 300,645 shares during the quarter. F M Investments LLC owned approximately 0.08% of Magnolia Oil & Gas worth $3,626,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Bessemer Group Inc. increased its position in shares of Magnolia Oil & Gas by 4.1% during the 4th quarter. Bessemer Group Inc. now owns 800,811 shares of the company’s stock valued at $18,722,000 after purchasing an additional 31,840 shares during the last quarter. Renaissance Technologies LLC grew its position in Magnolia Oil & Gas by 910.5% during the fourth quarter. Renaissance Technologies LLC now owns 541,400 shares of the company’s stock valued at $12,658,000 after buying an additional 487,820 shares during the period. Legal & General Group Plc increased its holdings in Magnolia Oil & Gas by 2.1% during the fourth quarter. Legal & General Group Plc now owns 495,537 shares of the company’s stock valued at $11,586,000 after buying an additional 10,189 shares during the last quarter. Bank of Montreal Can increased its holdings in Magnolia Oil & Gas by 6.9% during the fourth quarter. Bank of Montreal Can now owns 40,309 shares of the company’s stock valued at $942,000 after buying an additional 2,596 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its position in Magnolia Oil & Gas by 2.6% in the fourth quarter. Envestnet Asset Management Inc. now owns 406,671 shares of the company’s stock worth $9,508,000 after acquiring an additional 10,327 shares during the period. 94.73% of the stock is owned by hedge funds and other institutional investors.

Magnolia Oil & Gas Price Performance

MGY stock opened at $20.04 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. The company’s fifty day moving average price is $23.45 and its 200-day moving average price is $24.88. Magnolia Oil & Gas Co. has a one year low of $19.09 and a one year high of $29.02. The company has a market capitalization 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.

Magnolia Oil & Gas (NYSE:MGY) last announced its quarterly earnings results on Tuesday, February 18th. The company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.46 by $0.03. The business had revenue of $326.61 million for 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%. On average, equities analysts anticipate 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. Investors of record on Friday, February 14th were paid a dividend of $0.15 per share. The ex-dividend date of this dividend 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 dividend on an annualized basis and a yield of 2.99%. Magnolia Oil & Gas’s dividend payout ratio is presently 31.09%.

Insider Buying and Selling at Magnolia Oil & Gas

In other Magnolia Oil & Gas news, CEO Christopher G. Stavros acquired 2,500 shares of the company’s stock in a transaction on Monday, March 3rd. The stock was acquired at an average cost of $22.05 per share, with a total value of $55,125.00. Following the purchase, the chief executive officer now directly owns 892,372 shares of the company’s stock, valued at approximately $19,676,802.60. This represents a 0.28 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.20% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Truist Financial upped their price objective on Magnolia Oil & Gas from $33.00 to $34.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Johnson Rice cut Magnolia Oil & Gas from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, January 28th. JPMorgan Chase & Co. decreased their price objective on Magnolia Oil & Gas from $28.00 to $24.00 and set a “neutral” rating on the stock in a research note on Thursday, March 13th. Citigroup cut their price objective on Magnolia Oil & Gas from $22.00 to $19.00 and set a “sell” rating for the company in a research note on Tuesday. Finally, Mizuho raised their target price on shares of Magnolia Oil & Gas from $27.00 to $28.00 and gave the stock a “neutral” rating in a research note on Monday, December 16th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target 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.