Magnolia Oil & Gas Co. (NYSE:MGY) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. cut its stake in shares of Magnolia Oil & Gas Co. (NYSE:MGY - Free Report) by 10.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 220,485 shares of the company's stock after selling 25,629 shares during the period. Federated Hermes Inc. owned approximately 0.11% of Magnolia Oil & Gas worth $5,155,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of MGY. Vanguard Group Inc. boosted its position in shares of Magnolia Oil & Gas by 2.2% in the 4th quarter. Vanguard Group Inc. now owns 20,938,200 shares of the company's stock worth $489,535,000 after buying an additional 452,836 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Magnolia Oil & Gas by 0.5% in the fourth quarter. Wellington Management Group LLP now owns 5,020,646 shares of the company's stock worth $117,383,000 after acquiring an additional 26,943 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Magnolia Oil & Gas by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 4,136,456 shares of the company's stock worth $96,733,000 after buying an additional 28,687 shares during the period. Boston Trust Walden Corp increased its position in Magnolia Oil & Gas by 9.5% during the 4th quarter. Boston Trust Walden Corp now owns 3,090,587 shares of the company's stock worth $72,258,000 after purchasing an additional 267,461 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its position in Magnolia Oil & Gas by 14.5% during the 4th quarter. Principal Financial Group Inc. now owns 2,308,825 shares of the company's stock worth $53,983,000 after purchasing an additional 292,865 shares during the period. 94.73% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently commented on MGY. Williams Trading set a $29.00 price target on Magnolia Oil & Gas in a research note on Wednesday, March 5th. JPMorgan Chase & Co. reduced their price objective on shares of Magnolia Oil & Gas from $28.00 to $24.00 and set a "neutral" rating for the company in a report on Thursday, March 13th. Johnson Rice cut Magnolia Oil & Gas from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, January 28th. Piper Sandler lifted their price target on shares of Magnolia Oil & Gas from $24.00 to $26.00 and gave the stock a "neutral" rating in a research report on Wednesday, January 29th. Finally, 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 report on Friday, January 31st. 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 company's stock. Based on data from MarketBeat.com, Magnolia Oil & Gas presently has a consensus rating of "Hold" and a consensus target price of $27.54.

Magnolia Oil & Gas Stock Performance

Shares of Magnolia Oil & Gas stock traded up $0.47 during trading hours on Thursday, hitting $21.19. 656,232 shares of the company's stock traded hands, compared to its average volume of 2,283,194. Magnolia Oil & Gas Co. has a 12-month low of $19.09 and a 12-month high of $29.02. 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 fifty day simple moving average of $23.21 and a 200-day simple moving average of $24.77. The stock has a market capitalization of $4.11 billion, a price-to-earnings ratio of 10.99, a PEG ratio of 3.01 and a beta of 1.57.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last released its quarterly earnings results on Tuesday, February 18th. The company reported $0.49 earnings per share for the quarter, beating analysts' consensus estimates of $0.46 by $0.03. Magnolia Oil & Gas had a return on equity of 20.74% and a net margin of 27.82%. The business had revenue of $326.61 million for the quarter, compared to the consensus estimate of $327.40 million. Equities research analysts anticipate that Magnolia Oil & Gas Co. will post 2.1 EPS for the current fiscal year.

Magnolia Oil & Gas Increases Dividend

The business also recently disclosed 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 2.83%. This is a positive change from Magnolia Oil & Gas's previous quarterly dividend of $0.13. The ex-dividend date of this dividend was Friday, February 14th. Magnolia Oil & Gas's dividend payout ratio is 31.09%.

Insider Transactions at Magnolia Oil & Gas

In other news, CEO Christopher G. Stavros acquired 2,500 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The stock was purchased at an average cost of $22.05 per share, for a total transaction of $55,125.00. Following the completion of the acquisition, the chief executive officer now directly owns 892,372 shares of the company's stock, valued at $19,676,802.60. The trade was a 0.28 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 1.20% of the company's stock.

About Magnolia Oil & Gas

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.