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

Aviva PLC cut its stake in Magnolia Oil & Gas Co. (NYSE:MGY) by 10.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm 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 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Mather Group LLC. raised its position 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 valued at $25,000 after buying an additional 545 shares during the last quarter. Larson Financial Group LLC raised its holdings in Magnolia Oil & Gas by 112.3% in the 4th quarter. Larson Financial Group LLC now owns 1,072 shares of the company’s stock valued at $25,000 after acquiring an additional 567 shares in the last quarter. R Squared Ltd bought a new stake in shares of Magnolia Oil & Gas in the 4th quarter worth approximately $43,000. Avior Wealth Management LLC grew 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 worth $51,000 after purchasing an additional 506 shares in the last quarter. Finally, Smartleaf Asset Management LLC grew its holdings in shares of Magnolia Oil & Gas by 95.4% during 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. 94.73% of the stock is currently owned by institutional investors and hedge funds.

Magnolia Oil & Gas Price Performance

Magnolia Oil & Gas stock opened at $20.39 on Friday. The business’s fifty day moving average is $23.38 and its two-hundred day moving average is $24.85. 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 firm 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. Magnolia Oil & Gas Co. has a 52 week low of $19.09 and a 52 week high of $29.02.

Magnolia Oil & Gas (NYSE:MGY) last issued its quarterly earnings results on Tuesday, February 18th. The company reported $0.49 earnings per share (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 the consensus estimate of $327.40 million. Magnolia Oil & Gas had a net margin of 27.82% and a return on equity of 20.74%. Equities research analysts forecast that Magnolia Oil & Gas Co. will post 2.1 earnings per share for the current fiscal year.

Magnolia Oil & Gas Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were issued a $0.15 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.94%. This is a positive change from Magnolia Oil & Gas’s previous quarterly dividend of $0.13. Magnolia Oil & Gas’s dividend payout ratio (DPR) is currently 31.09%.

Analysts Set New Price Targets

MGY has been the subject of several research reports. Citigroup reduced their target price on Magnolia Oil & Gas from $22.00 to $19.00 and set a “sell” rating for the company in a research report on Tuesday. Truist Financial raised their price objective on shares of Magnolia Oil & Gas from $33.00 to $34.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Mizuho upped their target price on shares of Magnolia Oil & Gas from $27.00 to $28.00 and gave the company a “neutral” rating in a research note on Monday, December 16th. JPMorgan Chase & Co. cut their price target on shares of 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. Finally, Johnson Rice lowered Magnolia Oil & Gas from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, January 28th. 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.com, the company currently has an average rating of “Hold” and an average price target of $27.54.

Insider Buying and Selling

In other news, CEO Christopher G. Stavros bought 2,500 shares of the stock in a transaction dated Monday, March 3rd. The stock was bought 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 owns 892,372 shares of the company’s stock, valued at approximately $19,676,802.60. This represents a 0.28 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. 1.20% of the stock is currently owned by corporate insiders.

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.