Magnolia Oil & Gas Co. (NYSE:MGY) Shares Sold by Rafferty Asset Management LLC

Rafferty Asset Management LLC cut its holdings in shares of Magnolia Oil & Gas Co. (NYSE:MGY) by 16.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 192,560 shares of the company’s stock after selling 36,926 shares during the period. Rafferty Asset Management LLC owned approximately 0.10% of Magnolia Oil & Gas worth $4,502,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake 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 valued at $489,535,000 after purchasing an additional 452,836 shares during the last quarter. First Trust Advisors LP lifted its stake in Magnolia Oil & Gas by 24.6% during the fourth quarter. First Trust Advisors LP now owns 15,410,496 shares of the company’s stock valued at $360,297,000 after purchasing an additional 3,038,709 shares during the last quarter. Janus Henderson Group PLC lifted its stake in Magnolia Oil & Gas by 11.7% during the fourth quarter. Janus Henderson Group PLC now owns 6,396,875 shares of the company’s stock valued at $149,559,000 after purchasing an additional 667,973 shares during the last quarter. Wellington Management Group LLP lifted its stake in Magnolia Oil & Gas by 0.5% during the fourth quarter. Wellington Management Group LLP now owns 5,020,646 shares of the company’s stock valued at $117,383,000 after purchasing an additional 26,943 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Magnolia Oil & Gas by 1.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,768,047 shares of the company’s stock valued at $111,475,000 after purchasing an additional 86,166 shares during the last quarter. 94.73% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Magnolia Oil & Gas

In other Magnolia Oil & Gas news, CEO Christopher G. Stavros purchased 2,500 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were bought at an average price of $22.05 per share, for a total transaction of $55,125.00. Following the purchase, the chief executive officer now directly owns 892,372 shares in the company, valued at $19,676,802.60. This trade represents a 0.28% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.20% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts recently commented on the stock. The Goldman Sachs Group lowered shares of Magnolia Oil & Gas from a “buy” rating to a “neutral” rating and cut their target price for the company from $27.00 to $26.00 in a research note on Friday, January 31st. JPMorgan Chase & Co. cut their price target on shares of Magnolia Oil & Gas from $28.00 to $24.00 and set a “neutral” rating on the stock in a report on Thursday, March 13th. Johnson Rice lowered shares of Magnolia Oil & Gas from a “moderate buy” rating to a “hold” rating in a report on Tuesday, January 28th. UBS Group assumed coverage on shares of Magnolia Oil & Gas in a report on Tuesday, April 22nd. They set a “buy” rating and a $26.00 price target on the stock. Finally, Susquehanna cut their price target on shares of Magnolia Oil & Gas from $31.00 to $30.00 and set a “positive” rating on the stock in a report on Tuesday, April 22nd. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Magnolia Oil & Gas presently has an average rating of “Hold” and a consensus target price of $27.14.

Magnolia Oil & Gas Stock Down 0.6%

Magnolia Oil & Gas stock opened at $22.64 on Monday. The firm has a market cap of $4.36 billion, a PE ratio of 11.73, a P/E/G ratio of 3.01 and a beta of 1.25. 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 moving average price is $22.38 and its two-hundred day moving average price is $24.07. Magnolia Oil & Gas Co. has a twelve month low of $19.09 and a twelve month high of $29.02.

Magnolia Oil & Gas (NYSE:MGY) last released its quarterly earnings data on Wednesday, April 30th. The company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.02. The firm had revenue of $350.30 million for the quarter, compared to analyst estimates of $337.83 million. Magnolia Oil & Gas had a net margin of 27.82% and a return on equity of 20.74%. The company’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.46 EPS. On average, research analysts predict that Magnolia Oil & Gas Co. will post 2.1 EPS for the current fiscal year.

Magnolia Oil & Gas Dividend Announcement

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

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.