Corient Private Wealth LLC Lowers Stock Holdings in Magnolia Oil & Gas Co. (NYSE:MGY)

Corient Private Wealth LLC decreased its stake in Magnolia Oil & Gas Co. (NYSE:MGY - Free Report) by 12.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 97,758 shares of the company's stock after selling 13,699 shares during the quarter. Corient Private Wealth LLC's holdings in Magnolia Oil & Gas were worth $2,286,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MGY. Soros Fund Management LLC purchased a new stake in Magnolia Oil & Gas in the 3rd quarter worth approximately $18,120,000. Barclays PLC lifted its stake 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 valued at $40,383,000 after purchasing an additional 636,049 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Magnolia Oil & Gas in the 4th quarter valued at $13,634,000. State Street Corp boosted its holdings in Magnolia Oil & Gas by 4.2% during the third quarter. State Street Corp now owns 10,700,257 shares of the company's stock worth $261,300,000 after buying an additional 435,326 shares in the last quarter. Finally, Centiva Capital LP grew its position in Magnolia Oil & Gas by 767.6% during the third quarter. Centiva Capital LP now owns 487,148 shares of the company's stock valued at $11,896,000 after buying an additional 430,996 shares during the period. 94.73% of the stock is owned by institutional investors and hedge funds.

Magnolia Oil & Gas Trading Down 0.9 %

Magnolia Oil & Gas stock traded down $0.23 during midday trading on Thursday, hitting $25.37. 2,370,619 shares of the stock were exchanged, compared to its average volume of 2,168,172. 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 stock's 50-day simple moving average is $24.13 and its 200 day simple moving average is $25.05. Magnolia Oil & Gas Co. has a fifty-two week low of $21.63 and a fifty-two week high of $29.02. The stock has a market capitalization of $4.93 billion, a price-to-earnings ratio of 13.15, a PEG ratio of 3.01 and a beta of 1.90.

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Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last announced its quarterly earnings results on Tuesday, February 18th. The company reported $0.49 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 business had revenue of $326.61 million during the quarter, compared to the consensus estimate of $327.40 million. On average, equities analysts anticipate that Magnolia Oil & Gas Co. will post 2.1 EPS 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 paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 2.36%. The ex-dividend date was 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 31.09%.

Insider Transactions at Magnolia Oil & Gas

In related news, CEO Christopher G. Stavros acquired 2,500 shares of the firm's stock in a transaction dated 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 acquisition, the chief executive officer now owns 892,372 shares in the company, valued at $19,676,802.60. The trade was a 0.28 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.20% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Johnson Rice lowered shares of Magnolia Oil & Gas from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, January 28th. Piper Sandler raised their price objective on Magnolia Oil & Gas from $24.00 to $26.00 and gave the company a "neutral" rating in a report on Wednesday, January 29th. Williams Trading set a $29.00 price objective on Magnolia Oil & Gas in a research report on Wednesday, March 5th. Mizuho lifted their price target on shares of Magnolia Oil & Gas from $27.00 to $28.00 and gave the company a "neutral" rating in a research note on Monday, December 16th. Finally, Truist Financial upped their price objective on shares of Magnolia Oil & Gas from $33.00 to $34.00 and gave the stock a "buy" rating in a research report on Monday, January 13th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $27.77.

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.