Great Lakes Advisors LLC Sells 23,601 Shares of Magnolia Oil & Gas Co. (NYSE:MGY)

Great Lakes Advisors LLC lessened its stake in Magnolia Oil & Gas Co. (NYSE:MGY - Free Report) by 11.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 183,149 shares of the company's stock after selling 23,601 shares during the quarter. Great Lakes Advisors LLC owned approximately 0.09% of Magnolia Oil & Gas worth $4,282,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of MGY. State Street Corp boosted its holdings in Magnolia Oil & Gas by 4.2% during 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 last quarter. Geode Capital Management LLC grew its stake in shares of Magnolia Oil & Gas by 2.9% in the 3rd quarter. Geode Capital Management LLC now owns 4,107,769 shares of the company's stock worth $100,332,000 after acquiring an additional 116,431 shares in the last quarter. Boston Trust Walden Corp grew its stake in shares of Magnolia Oil & Gas by 9.5% in the 4th quarter. Boston Trust Walden Corp now owns 3,090,587 shares of the company's stock worth $72,258,000 after acquiring an additional 267,461 shares in the last quarter. Systematic Financial Management LP grew its stake in shares of Magnolia Oil & Gas by 7.5% in the 3rd quarter. Systematic Financial Management LP now owns 2,920,018 shares of the company's stock worth $71,307,000 after acquiring an additional 203,514 shares in the last quarter. Finally, Loomis Sayles & Co. L P grew its stake in shares of Magnolia Oil & Gas by 10.0% in the 3rd quarter. Loomis Sayles & Co. L P now owns 2,782,550 shares of the company's stock worth $67,950,000 after acquiring an additional 253,911 shares in the last quarter. Hedge funds and other institutional investors own 94.73% of the company's stock.

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Insider Buying and Selling at Magnolia Oil & Gas

In related news, CEO Christopher G. Stavros acquired 2,500 shares of Magnolia Oil & Gas stock in a transaction on Monday, March 3rd. The shares were acquired at an average cost 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 $19,676,802.60. This trade represents a 0.28 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.40% of the company's stock.

Analyst Ratings Changes

Several research firms have recently issued reports on MGY. Piper Sandler upped their target price on shares of Magnolia Oil & Gas from $24.00 to $26.00 and gave the stock a "neutral" rating in a research note on Wednesday, January 29th. 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. Truist Financial upped their target price on shares of Magnolia Oil & Gas from $33.00 to $34.00 and gave the stock a "buy" rating in a research note on Monday, January 13th. JPMorgan Chase & Co. reduced their price target on shares of Magnolia Oil & Gas from $28.00 to $24.00 and set a "neutral" rating for the company in a research report on Thursday, March 13th. Finally, Mizuho increased 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 report on Monday, December 16th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $27.77.

Magnolia Oil & Gas Trading Up 3.9 %

Shares of NYSE MGY traded up $0.94 during mid-day trading on Wednesday, hitting $24.98. The stock had a trading volume of 3,696,677 shares, compared to its average volume of 2,316,776. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.47 and a current ratio of 1.42. Magnolia Oil & Gas Co. has a 1 year low of $21.63 and a 1 year high of $29.02. The business has a 50 day moving average price of $24.12 and a two-hundred day moving average price of $25.02. The firm has a market cap of $4.85 billion, a P/E ratio of 12.94, a price-to-earnings-growth ratio of 3.01 and a beta of 1.90.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last issued its earnings results on Tuesday, February 18th. The company reported $0.49 EPS for the quarter, topping the consensus estimate 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 company had revenue of $326.61 million for 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 fiscal year.

Magnolia Oil & Gas Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were given a dividend of $0.15 per share. This is an increase from Magnolia Oil & Gas's previous quarterly dividend of $0.13. This represents a $0.60 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date of this dividend was Friday, February 14th. Magnolia Oil & Gas's payout ratio is presently 31.09%.

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.