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

Cerity Partners LLC reduced its holdings in Magnolia Oil & Gas Co. (NYSE:MGY) by 1.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 124,081 shares of the company’s stock after selling 2,014 shares during the period. Cerity Partners LLC owned 0.06% of Magnolia Oil & Gas worth $3,018,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MGY. Envestnet Asset Management Inc. increased its position in shares of Magnolia Oil & Gas by 2.6% in the fourth quarter. Envestnet Asset Management Inc. now owns 406,671 shares of the company’s stock valued at $9,508,000 after acquiring an additional 10,327 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of Magnolia Oil & Gas during the 4th quarter worth approximately $605,000. Wells Fargo & Company MN boosted its holdings in shares of Magnolia Oil & Gas by 22.8% in the 4th quarter. Wells Fargo & Company MN now owns 259,038 shares of the company’s stock valued at $6,056,000 after buying an additional 48,145 shares during the last quarter. ExodusPoint Capital Management LP grew its stake in shares of Magnolia Oil & Gas by 683.9% in the fourth quarter. ExodusPoint Capital Management LP now owns 406,853 shares of the company’s stock valued at $9,512,000 after buying an additional 354,949 shares in the last quarter. Finally, Nicolet Advisory Services LLC acquired a new position in Magnolia Oil & Gas during the fourth quarter worth $205,000. 94.73% of the stock is owned by institutional investors.

Magnolia Oil & Gas Price Performance

NYSE:MGY opened at $20.27 on Tuesday. Magnolia Oil & Gas Co. has a 52 week low of $19.09 and a 52 week high of $29.02. 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’s 50-day simple moving average is $23.31 and its 200 day simple moving average is $24.83. The firm has a market cap of $3.94 billion, a price-to-earnings ratio of 10.50, a P/E/G ratio of 3.01 and a beta of 1.57.

Magnolia Oil & Gas (NYSE:MGY) last announced its 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 company 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%. As a group, sell-side analysts predict 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 disclosed a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were issued a $0.15 dividend. The ex-dividend date was Friday, February 14th. This is a boost from Magnolia Oil & Gas’s previous quarterly dividend of $0.13. This represents a $0.60 annualized dividend and a yield of 2.96%. Magnolia Oil & Gas’s payout ratio is currently 31.09%.

Insider Activity

In other news, CEO Christopher G. Stavros bought 2,500 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was bought at an average cost 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 of the company’s stock, valued at $19,676,802.60. This represents a 0.28 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.20% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on MGY shares. Johnson Rice downgraded shares of Magnolia Oil & Gas from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, January 28th. Bank of America reiterated a “neutral” rating and set a $28.00 price target (down previously from $29.00) on shares of Magnolia Oil & Gas in a report on Monday, January 13th. Williams Trading set a $29.00 price objective on Magnolia Oil & Gas in a research note on Wednesday, March 5th. JPMorgan Chase & Co. reduced 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. Finally, Piper Sandler boosted their target price on Magnolia Oil & Gas from $24.00 to $26.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Two research 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’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $27.54.

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.