Cambiar Investors LLC Cuts Holdings in Magnolia Oil & Gas Co. (NYSE:MGY)

Cambiar Investors LLC lowered its position in Magnolia Oil & Gas Co. (NYSE:MGY - Free Report) by 10.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 558,688 shares of the company's stock after selling 64,042 shares during the period. Cambiar Investors LLC owned approximately 0.28% of Magnolia Oil & Gas worth $13,062,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of MGY. Soros Fund Management LLC acquired a new stake in shares of Magnolia Oil & Gas in the 3rd quarter worth approximately $18,120,000. Barclays PLC grew its holdings in shares of Magnolia Oil & Gas by 62.5% in 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 during the period. State Street Corp grew its holdings in shares of Magnolia Oil & Gas by 4.2% in the 3rd quarter. State Street Corp now owns 10,700,257 shares of the company's stock worth $261,300,000 after acquiring an additional 435,326 shares during the period. Centiva Capital LP grew its holdings in shares of Magnolia Oil & Gas by 767.6% in the 3rd quarter. Centiva Capital LP now owns 487,148 shares of the company's stock worth $11,896,000 after acquiring an additional 430,996 shares during the period. Finally, Vest Financial LLC grew its holdings in shares of Magnolia Oil & Gas by 39.0% in the 4th quarter. Vest Financial LLC now owns 1,521,004 shares of the company's stock worth $35,561,000 after acquiring an additional 426,572 shares during the period. Institutional investors and hedge funds own 94.73% of the company's stock.

Magnolia Oil & Gas Trading Up 1.2 %

Shares of Magnolia Oil & Gas stock traded up $0.27 during trading hours on Friday, reaching $23.45. 2,770,979 shares of the company's stock were exchanged, compared to its average volume of 1,818,789. Magnolia Oil & Gas Co. has a 52-week low of $20.66 and a 52-week high of $29.02. The firm has a market capitalization of $4.61 billion, a price-to-earnings ratio of 11.61, a price-to-earnings-growth ratio of 2.85 and a beta of 1.98. The company has a fifty day moving average of $24.38 and a 200-day moving average of $25.27. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.20.

Magnolia Oil & Gas Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Friday, February 14th will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.56%. The ex-dividend date is Friday, February 14th. This is a positive change from Magnolia Oil & Gas's previous quarterly dividend of $0.13. Magnolia Oil & Gas's dividend payout ratio is currently 25.74%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on MGY. Piper Sandler upped their price target on Magnolia Oil & Gas from $24.00 to $26.00 and gave the stock a "neutral" rating in a report on Wednesday, January 29th. The Goldman Sachs Group lowered Magnolia Oil & Gas from a "buy" rating to a "neutral" rating and reduced their target price for the company from $27.00 to $26.00 in a research note on Friday, January 31st. Mizuho upped their target price on Magnolia Oil & Gas from $27.00 to $28.00 and gave the company a "neutral" rating in a research note on Monday, December 16th. Truist Financial upped their target price on Magnolia Oil & Gas from $33.00 to $34.00 and gave the company a "buy" rating in a research note on Monday, January 13th. Finally, Johnson Rice lowered Magnolia Oil & Gas from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, January 28th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Magnolia Oil & Gas presently has an average rating of "Hold" and an average target price of $27.58.

Magnolia Oil & Gas Company 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.