PDT Partners LLC Sells 34,091 Shares of Magnolia Oil & Gas Co. (NYSE:MGY)

PDT Partners LLC cut its position in shares of Magnolia Oil & Gas Co. (NYSE:MGY) by 19.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 137,402 shares of the company’s stock after selling 34,091 shares during the period. PDT Partners LLC owned about 0.07% of Magnolia Oil & Gas worth $3,212,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in the company. Mariner LLC raised its holdings in shares of Magnolia Oil & Gas by 1.8% in the fourth quarter. Mariner LLC now owns 43,229 shares of the company’s stock valued at $1,011,000 after acquiring an additional 762 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Magnolia Oil & Gas by 4.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,076,541 shares of the company’s stock valued at $48,550,000 after purchasing an additional 85,524 shares during the period. Ashton Thomas Private Wealth LLC bought a new stake in shares of Magnolia Oil & Gas in the 4th quarter valued at about $590,000. Proficio Capital Partners LLC purchased a new stake in shares of Magnolia Oil & Gas in the 4th quarter worth approximately $292,000. Finally, Mitsubishi UFJ Asset Management UK Ltd. bought a new position in shares of Magnolia Oil & Gas during the fourth quarter valued at approximately $912,000. 94.73% of the stock is currently owned by hedge funds and other institutional investors.

Magnolia Oil & Gas Price Performance

Shares of NYSE MGY opened at $21.69 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 quick ratio of 1.47, a current ratio of 1.42 and a debt-to-equity ratio of 0.20. The firm has a market cap of $4.21 billion, a P/E ratio of 11.24, a P/E/G ratio of 3.01 and a beta of 1.57. The business’s 50 day moving average price is $22.80 and its 200 day moving average price is $24.47.

Magnolia Oil & Gas (NYSE:MGY) last released its quarterly earnings data on Tuesday, February 18th. The company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.03. The firm had revenue of $326.61 million for the quarter, compared to analyst estimates of $327.40 million. Magnolia Oil & Gas had a net margin of 27.82% and a return on equity of 20.74%. On average, sell-side analysts expect 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. Stockholders of record on Friday, February 14th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 2.77%. The ex-dividend date was Friday, February 14th. This is a boost from Magnolia Oil & Gas’s previous quarterly dividend of $0.13. Magnolia Oil & Gas’s payout ratio is 31.09%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Susquehanna reduced their price objective on shares of Magnolia Oil & Gas from $31.00 to $30.00 and set a “positive” rating for the company in a research note on Tuesday, April 22nd. Johnson Rice cut shares of Magnolia Oil & Gas from a “moderate buy” rating to a “hold” rating in a report on Tuesday, January 28th. UBS Group began coverage on shares of Magnolia Oil & Gas in a research note on Tuesday, April 22nd. They set a “buy” rating and a $26.00 price objective for the company. Bank of America reissued a “neutral” rating and set a $28.00 target price (down previously from $29.00) on shares of Magnolia Oil & Gas in a research report on Monday, January 13th. Finally, Piper Sandler reduced their price target on Magnolia Oil & Gas from $26.00 to $25.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 22nd. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $27.21.

Insider Transactions at Magnolia Oil & Gas

In other news, CEO Christopher G. Stavros acquired 2,500 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was bought at an average price of $22.05 per share, with a total value of $55,125.00. Following the completion of the acquisition, 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 acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 1.20% of the company’s stock.

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.