Loomis Sayles & Co. L P Trims Holdings in Magnolia Oil & Gas Co. (NYSE:MGY)

Loomis Sayles & Co. L P trimmed its position in Magnolia Oil & Gas Co. (NYSE:MGY - Free Report) by 2.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,701,392 shares of the company's stock after selling 81,158 shares during the quarter. Loomis Sayles & Co. L P owned about 1.37% of Magnolia Oil & Gas worth $63,159,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in MGY. Soros Fund Management LLC purchased a new stake in shares of Magnolia Oil & Gas during the 3rd quarter worth approximately $18,120,000. Barclays PLC raised its stake in Magnolia Oil & Gas by 62.5% during the third 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 in the last quarter. Raymond James Financial Inc. bought a new position in Magnolia Oil & Gas during the fourth quarter valued at $13,634,000. Vanguard Group Inc. increased its holdings 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 during the last quarter. Finally, State Street Corp grew its position in Magnolia Oil & Gas by 4.2% in the third 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 in the last quarter. 94.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Christopher G. Stavros bought 2,500 shares of the company's stock in a transaction on Monday, March 3rd. The shares were bought at an average price of $22.05 per share, with a total value of $55,125.00. Following the transaction, the chief executive officer now owns 892,372 shares in the company, valued at approximately $19,676,802.60. This trade represents a 0.28 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.20% of the company's stock.

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Magnolia Oil & Gas Stock Up 0.6 %

Magnolia Oil & Gas stock traded up $0.16 during trading hours on Monday, reaching $25.35. The stock had a trading volume of 410,595 shares, compared to its average volume of 2,243,117. The company has a market cap of $4.92 billion, a price-to-earnings ratio of 13.14, a PEG ratio of 3.01 and a beta of 1.90. The business's 50 day moving average price is $24.08 and its 200-day moving average price is $25.09. Magnolia Oil & Gas Co. has a 52 week low of $21.63 and a 52 week 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.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last posted its earnings results on Tuesday, February 18th. The company reported $0.49 EPS for the quarter, beating analysts' consensus estimates of $0.46 by $0.03. The company had revenue of $326.61 million during the quarter, compared to analysts' expectations of $327.40 million. Magnolia Oil & Gas had a net margin of 27.82% and a return on equity of 20.74%. Sell-side 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 dividend of $0.15 per share. 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. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.37%. Magnolia Oil & Gas's payout ratio is presently 31.09%.

Analyst Ratings Changes

A number of research firms recently issued reports on MGY. Johnson Rice cut Magnolia Oil & Gas from a "moderate buy" rating to a "hold" rating in a report on Tuesday, January 28th. JPMorgan Chase & Co. reduced 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 research note on Thursday, March 13th. Mizuho boosted their price objective on shares of Magnolia Oil & Gas from $27.00 to $28.00 and gave the company a "neutral" rating in a research report on Monday, December 16th. Bank of America reaffirmed a "neutral" rating and set a $28.00 target price (down from $29.00) on shares of Magnolia Oil & Gas in a research report on Monday, January 13th. Finally, Truist Financial increased their price objective on Magnolia Oil & Gas from $33.00 to $34.00 and gave the stock a "buy" rating in a research note on Monday, January 13th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Magnolia Oil & Gas has an average rating of "Hold" and a consensus price target of $27.77.

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.