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

Invesco Ltd. lowered its stake in shares of Magnolia Oil & Gas Co. (NYSE:MGY) by 8.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 960,344 shares of the company’s stock after selling 93,034 shares during the period. Invesco Ltd. owned about 0.49% of Magnolia Oil & Gas worth $22,453,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Barclays PLC boosted its stake in shares of Magnolia Oil & Gas by 62.5% during the 3rd quarter. Barclays PLC now owns 1,653,736 shares of the company’s stock worth $40,383,000 after acquiring an additional 636,049 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Magnolia Oil & Gas during the fourth quarter worth $13,634,000. Vanguard Group Inc. boosted its position in Magnolia Oil & Gas by 2.2% during the fourth quarter. Vanguard Group Inc. now owns 20,938,200 shares of the company’s stock worth $489,535,000 after purchasing an additional 452,836 shares in the last quarter. Vest Financial LLC grew its holdings in Magnolia Oil & Gas by 39.0% in the fourth quarter. Vest Financial LLC now owns 1,521,004 shares of the company’s stock valued at $35,561,000 after purchasing an additional 426,572 shares during the last quarter. Finally, ExodusPoint Capital Management LP raised its stake in shares of Magnolia Oil & Gas by 683.9% during the 4th quarter. ExodusPoint Capital Management LP now owns 406,853 shares of the company’s stock worth $9,512,000 after buying an additional 354,949 shares during the last quarter. 94.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently commented on MGY. 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. Citigroup dropped their price objective on shares of Magnolia Oil & Gas from $22.00 to $19.00 and set a “sell” rating for the company in a research note on Tuesday, April 8th. Bank of America reaffirmed a “neutral” rating and issued a $28.00 target price (down previously from $29.00) on shares of Magnolia Oil & Gas in a research note on Monday, January 13th. Truist Financial increased their target price on Magnolia Oil & Gas from $33.00 to $34.00 and gave the company a “buy” rating in a report on Monday, January 13th. Finally, JPMorgan Chase & Co. cut their price target on Magnolia Oil & Gas from $28.00 to $24.00 and set a “neutral” rating for the company in a report on Thursday, March 13th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Magnolia Oil & Gas has a consensus rating of “Hold” and a consensus price target of $27.54.

Magnolia Oil & Gas Stock Performance

NYSE MGY opened at $21.10 on Friday. The business’s 50-day moving average price is $23.11 and its 200 day moving average price is $24.72. The company has a current ratio of 1.42, a quick ratio of 1.47 and a debt-to-equity ratio of 0.20. Magnolia Oil & Gas Co. has a twelve month low of $19.09 and a twelve month high of $29.02. The company 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 announced its quarterly earnings data on Tuesday, February 18th. The company reported $0.49 earnings per share 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 business had revenue of $326.61 million for the quarter, compared to analyst estimates of $327.40 million. On average, research 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 declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were paid a dividend of $0.15 per share. The ex-dividend date was Friday, February 14th. This represents a $0.60 dividend on an annualized basis and a yield of 2.84%. This is an increase from Magnolia Oil & Gas’s previous quarterly dividend of $0.13. Magnolia Oil & Gas’s dividend payout ratio (DPR) is currently 31.09%.

Insider Buying and Selling at Magnolia Oil & Gas

In other news, CEO Christopher G. Stavros acquired 2,500 shares of Magnolia Oil & Gas stock in a transaction dated Monday, March 3rd. The shares were 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 trade represents a 0.28 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.20% of the stock is owned by company 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.