Magnolia Oil & Gas Co. (NYSE:MGY) Holdings Cut by Barclays PLC

Barclays PLC lessened its stake in shares of Magnolia Oil & Gas Co. (NYSE:MGY - Free Report) by 22.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,279,202 shares of the company's stock after selling 374,534 shares during the period. Barclays PLC owned 0.65% of Magnolia Oil & Gas worth $29,906,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the business. HighTower Advisors LLC purchased a new position in Magnolia Oil & Gas in the 3rd quarter valued at approximately $353,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Magnolia Oil & Gas by 4.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,076,541 shares of the company's stock valued at $48,550,000 after buying an additional 85,524 shares during the period. Ashton Thomas Private Wealth LLC acquired a new position in Magnolia Oil & Gas during the fourth quarter worth $590,000. Proficio Capital Partners LLC acquired a new position in shares of Magnolia Oil & Gas in the fourth quarter worth $292,000. Finally, Mitsubishi UFJ Asset Management UK Ltd. acquired a new position in shares of Magnolia Oil & Gas in the fourth quarter worth $912,000. Institutional investors and hedge funds own 94.73% of the company's stock.

Magnolia Oil & Gas Trading Up 2.6 %

Shares of NYSE MGY traded up $0.54 during mid-day trading on Thursday, reaching $21.24. The company had a trading volume of 518,703 shares, compared to its average volume of 2,283,064. The company has a current ratio of 1.42, a quick ratio of 1.47 and a debt-to-equity ratio of 0.20. Magnolia Oil & Gas Co. has a 52 week low of $19.09 and a 52 week high of $29.02. The business's 50-day moving average is $22.95 and its 200-day moving average is $24.61. The stock has a market cap of $4.12 billion, a price-to-earnings ratio of 10.95, a price-to-earnings-growth ratio of 3.01 and a beta of 1.57.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last posted 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. The company had revenue of $326.61 million during the quarter, compared to analyst estimates of $327.40 million. Magnolia Oil & Gas had a net margin of 27.82% and a return on equity of 20.74%. Equities analysts expect that Magnolia Oil & Gas Co. will post 2.1 earnings per share for the current year.

Magnolia Oil & Gas Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were given a dividend of $0.15 per share. This is a boost from Magnolia Oil & Gas's previous quarterly dividend of $0.13. This represents a $0.60 annualized dividend and a dividend yield of 2.82%. The ex-dividend date of this dividend was Friday, February 14th. Magnolia Oil & Gas's payout ratio is 31.09%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Truist Financial upped their price target on Magnolia Oil & Gas from $33.00 to $34.00 and gave the stock a "buy" rating in a report on Monday, January 13th. Piper Sandler lowered their price target on Magnolia Oil & Gas from $26.00 to $25.00 and set a "neutral" rating on the stock in a report on Tuesday. The Goldman Sachs Group lowered shares of Magnolia Oil & Gas from a "buy" rating to a "neutral" rating and cut their target price for the company from $27.00 to $26.00 in a research note on Friday, January 31st. Bank of America restated a "neutral" rating and issued a $28.00 price target (down previously from $29.00) on shares of Magnolia Oil & Gas in a research report on Monday, January 13th. Finally, UBS Group assumed coverage on shares of Magnolia Oil & Gas in a research note on Tuesday. They set a "buy" rating and a $26.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $27.21.

Insider Buying and Selling

In other Magnolia Oil & Gas news, CEO Christopher G. Stavros purchased 2,500 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The shares were purchased at an average price of $22.05 per share, for a total transaction of $55,125.00. Following the completion of the acquisition, the chief executive officer now owns 892,372 shares of the company's stock, valued at approximately $19,676,802.60. This represents a 0.28 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.20% of the stock is currently owned by company insiders.

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.