American Century Companies Inc. Sells 602,532 Shares of Magnolia Oil & Gas Co. (NYSE:MGY)

American Century Companies Inc. trimmed its holdings in Magnolia Oil & Gas Co. (NYSE:MGY - Free Report) by 5.7% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 9,940,130 shares of the company's stock after selling 602,532 shares during the period. American Century Companies Inc. owned 5.06% of Magnolia Oil & Gas worth $232,400,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the business. First Horizon Advisors Inc. grew its stake in shares of Magnolia Oil & Gas by 64.7% in the 3rd quarter. First Horizon Advisors Inc. now owns 1,008 shares of the company's stock valued at $25,000 after purchasing an additional 396 shares during the last quarter. Mather Group LLC. increased its position in Magnolia Oil & Gas by 100.0% during the 4th quarter. Mather Group LLC. now owns 1,090 shares of the company's stock worth $25,000 after purchasing an additional 545 shares during the period. Larson Financial Group LLC lifted its holdings 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 buying an additional 567 shares during the period. R Squared Ltd purchased a new stake in shares of Magnolia Oil & Gas in the fourth quarter valued at approximately $43,000. Finally, Avior Wealth Management LLC grew its holdings in Magnolia Oil & Gas by 30.0% during the fourth quarter. Avior Wealth Management LLC now owns 2,194 shares of the company's stock worth $51,000 after acquiring an additional 506 shares during the period. Institutional investors and hedge funds own 94.73% of the company's stock.

Analyst Ratings Changes

A number of brokerages have issued reports on MGY. Mizuho increased their target price on shares of Magnolia Oil & Gas from $27.00 to $28.00 and gave the company a "neutral" rating in a report on Monday, December 16th. JPMorgan Chase & Co. cut their price objective 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. Piper Sandler boosted their price target on Magnolia Oil & Gas from $24.00 to $26.00 and gave the company a "neutral" rating in a research report on Wednesday, January 29th. Bank of America reissued a "neutral" rating and issued a $28.00 price objective (down previously from $29.00) on shares of Magnolia Oil & Gas in a research report on Monday, January 13th. Finally, Williams Trading set a $29.00 price objective on Magnolia Oil & Gas in a research note on Wednesday, March 5th. 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 company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $27.77.

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Insider Activity at Magnolia Oil & Gas

In other news, CEO Christopher G. Stavros purchased 2,500 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were purchased at an average cost of $22.05 per share, for a total transaction of $55,125.00. Following the completion of the purchase, the chief executive officer now directly owns 892,372 shares of the company's stock, valued at approximately $19,676,802.60. The trade was a 0.28 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.20% of the stock is owned by company insiders.

Magnolia Oil & Gas Price Performance

Shares of MGY traded down $0.23 during trading hours on Thursday, hitting $25.37. 2,370,619 shares of the company were exchanged, compared to its average volume of 2,168,172. The firm has a fifty day simple moving average of $24.13 and a 200-day simple moving average of $25.05. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.42 and a quick ratio of 1.47. The company has a market capitalization of $4.93 billion, a PE ratio of 13.15, a PEG ratio of 3.01 and a beta of 1.90. Magnolia Oil & Gas Co. has a one year low of $21.63 and a one year high of $29.02.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last announced its earnings results on Tuesday, February 18th. The company reported $0.49 earnings per share (EPS) for the quarter, beating 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 company had revenue of $326.61 million for the quarter, compared to the consensus estimate of $327.40 million. 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 firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.36%. 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%.

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.