Russell Investments Group Ltd. Sells 25,602 Shares of Magnolia Oil & Gas Co. (NYSE:MGY)

Russell Investments Group Ltd. decreased its position in Magnolia Oil & Gas Co. (NYSE:MGY - Free Report) by 11.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 205,210 shares of the company's stock after selling 25,602 shares during the quarter. Russell Investments Group Ltd. owned 0.10% of Magnolia Oil & Gas worth $4,798,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. lifted its position in Magnolia Oil & Gas by 2.6% during the 4th quarter. Envestnet Asset Management Inc. now owns 406,671 shares of the company's stock worth $9,508,000 after buying an additional 10,327 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in Magnolia Oil & Gas in the 4th quarter worth approximately $605,000. Wells Fargo & Company MN boosted its position in Magnolia Oil & Gas by 22.8% in the 4th quarter. Wells Fargo & Company MN now owns 259,038 shares of the company's stock valued at $6,056,000 after buying an additional 48,145 shares during the last quarter. ExodusPoint Capital Management LP lifted its stake in shares of Magnolia Oil & Gas by 683.9% during the fourth quarter. ExodusPoint Capital Management LP now owns 406,853 shares of the company's stock valued at $9,512,000 after acquiring an additional 354,949 shares during the period. Finally, Nicolet Advisory Services LLC bought a new position in Magnolia Oil & Gas in the fourth quarter valued at about $205,000. 94.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have issued reports on MGY shares. Williams Trading set a $29.00 price objective on shares of Magnolia Oil & Gas in a research note on Wednesday, March 5th. Johnson Rice downgraded shares of Magnolia Oil & Gas from a "moderate buy" rating to a "hold" rating in a report on Tuesday, January 28th. Truist Financial upped their price objective on Magnolia Oil & Gas from $33.00 to $34.00 and gave the stock a "buy" rating in a research report on Monday, January 13th. The Goldman Sachs Group downgraded shares of Magnolia Oil & Gas from a "buy" rating to a "neutral" rating and decreased their target price for the company from $27.00 to $26.00 in a research report on Friday, January 31st. Finally, 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. 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 stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $27.54.

Insider Activity

In other news, CEO Christopher G. Stavros purchased 2,500 shares of the stock in a transaction on Monday, March 3rd. The stock was purchased at an average price 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. This trade represents a 0.28 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.20% of the stock is currently owned by corporate insiders.

Magnolia Oil & Gas Stock Performance

Shares of NYSE:MGY traded up $0.38 on Friday, hitting $21.10. The company had a trading volume of 2,208,986 shares, compared to its average volume of 2,290,524. The stock has a market cap of $4.10 billion, a price-to-earnings ratio of 10.93, a P/E/G ratio of 3.01 and a beta of 1.57. 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 has a 50 day moving average price of $23.16 and a 200 day moving average price of $24.75. Magnolia Oil & Gas Co. has a 1-year low of $19.09 and a 1-year high of $29.02.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last issued its quarterly earnings data on Tuesday, February 18th. The company reported $0.49 earnings per share 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 business had revenue of $326.61 million during the quarter, compared to analysts' expectations of $327.40 million. Analysts expect that Magnolia Oil & Gas Co. will post 2.1 EPS for the current year.

Magnolia Oil & Gas Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were issued a $0.15 dividend. The ex-dividend date was Friday, February 14th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.84%. This is a boost from Magnolia Oil & Gas's previous quarterly dividend of $0.13. Magnolia Oil & Gas's dividend payout ratio is 31.09%.

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.