Lazard Asset Management LLC Sells 3,939 Shares of Magnolia Oil & Gas Co. (NYSE:MGY)

Lazard Asset Management LLC cut its holdings in shares of Magnolia Oil & Gas Co. (NYSE:MGY) by 2.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 164,786 shares of the company’s stock after selling 3,939 shares during the period. Lazard Asset Management LLC owned about 0.08% of Magnolia Oil & Gas worth $3,852,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MGY. Mather Group LLC. lifted its stake in shares of Magnolia Oil & Gas by 100.0% in the 4th quarter. Mather Group LLC. now owns 1,090 shares of the company’s stock valued at $25,000 after acquiring an additional 545 shares during the last quarter. Larson Financial Group LLC lifted its stake in shares of 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 during the last quarter. R Squared Ltd bought a new position in shares of Magnolia Oil & Gas in the 4th quarter valued at $43,000. Quarry LP lifted its stake in shares of Magnolia Oil & Gas by 1,047.8% in the 4th quarter. Quarry LP now owns 2,135 shares of the company’s stock valued at $50,000 after acquiring an additional 1,949 shares during the last quarter. Finally, Avior Wealth Management LLC lifted its stake in shares of Magnolia Oil & Gas by 30.0% in the 4th quarter. Avior Wealth Management LLC now owns 2,194 shares of the company’s stock valued at $51,000 after acquiring an additional 506 shares during the last quarter. 94.73% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. UBS Group began coverage on Magnolia Oil & Gas in a research note on Tuesday, April 22nd. They issued a “buy” rating and a $26.00 price target for the company. Williams Trading set a $29.00 price objective on Magnolia Oil & Gas in a report on Wednesday, March 5th. Citigroup decreased their price objective on Magnolia Oil & Gas from $22.00 to $19.00 and set a “sell” rating for the company in a report on Tuesday, April 8th. Susquehanna decreased their price objective on Magnolia Oil & Gas from $31.00 to $30.00 and set a “positive” rating for the company in a report on Tuesday, April 22nd. Finally, The Goldman Sachs Group downgraded Magnolia Oil & Gas from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $27.00 to $26.00 in a report on Friday, January 31st. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Magnolia Oil & Gas currently has an average rating of “Hold” and a consensus price target of $27.14.

Magnolia Oil & Gas Stock Performance

Shares of Magnolia Oil & Gas stock opened at $22.64 on Friday. The company has a current ratio of 1.42, a quick ratio of 1.47 and a debt-to-equity ratio of 0.20. The business has a 50-day moving average price of $22.38 and a two-hundred day moving average price of $24.09. Magnolia Oil & Gas Co. has a 1-year low of $19.09 and a 1-year high of $29.02. The company has a market cap of $4.40 billion, a P/E ratio of 11.73, a PEG ratio of 3.01 and a beta of 1.25.

Magnolia Oil & Gas (NYSE:MGY) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.02. Magnolia Oil & Gas had a return on equity of 20.74% and a net margin of 27.82%. The firm had revenue of $350.30 million during the quarter, compared to the consensus estimate of $337.83 million. During the same period last year, the business posted $0.46 EPS. The business’s revenue was up 9.7% compared to the same quarter last year. As a group, analysts anticipate that Magnolia Oil & Gas Co. will post 2.1 EPS for the current year.

Magnolia Oil & Gas Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Monday, May 12th will be issued a dividend of $0.15 per share. The ex-dividend date is Monday, May 12th. This represents a $0.60 dividend on an annualized basis and a yield of 2.65%. Magnolia Oil & Gas’s payout ratio is currently 29.85%.

Insiders Place Their Bets

In related news, CEO Christopher G. Stavros acquired 2,500 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were bought at an average price of $22.05 per share, with a total value of $55,125.00. Following the transaction, the chief executive officer now directly owns 892,372 shares of the company’s stock, valued at $19,676,802.60. This trade represents a 0.28% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 1.20% of the company’s stock.

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.