Sei Investments Co. Cuts Holdings in Magnolia Oil & Gas Co. (NYSE:MGY)

Sei Investments Co. lowered its position in shares of Magnolia Oil & Gas Co. (NYSE:MGY - Free Report) by 6.6% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 800,506 shares of the company's stock after selling 56,654 shares during the quarter. Sei Investments Co. owned 0.41% of Magnolia Oil & Gas worth $18,716,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in MGY. Semanteon Capital Management LP raised its holdings in Magnolia Oil & Gas by 33.7% during the fourth quarter. Semanteon Capital Management LP now owns 63,170 shares of the company's stock worth $1,477,000 after purchasing an additional 15,917 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in shares of Magnolia Oil & Gas by 1.4% during the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 40,783 shares of the company's stock worth $954,000 after buying an additional 564 shares in the last quarter. Magnetar Financial LLC lifted its holdings in shares of Magnolia Oil & Gas by 857.5% in the 4th quarter. Magnetar Financial LLC now owns 184,323 shares of the company's stock valued at $4,309,000 after buying an additional 165,073 shares during the period. Maryland State Retirement & Pension System boosted its stake in shares of Magnolia Oil & Gas by 1.2% in the fourth quarter. Maryland State Retirement & Pension System now owns 64,333 shares of the company's stock valued at $1,504,000 after buying an additional 793 shares in the last quarter. Finally, Xponance Inc. grew its holdings in Magnolia Oil & Gas by 9.1% during the fourth quarter. Xponance Inc. now owns 12,299 shares of the company's stock worth $288,000 after acquiring an additional 1,022 shares during the period. Institutional investors and hedge funds own 94.73% of the company's stock.

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Insider Transactions at Magnolia Oil & Gas

In related news, CEO Christopher G. Stavros acquired 2,500 shares of the company's stock in a transaction dated Monday, March 3rd. The stock was bought at an average price of $22.05 per share, with a total value of $55,125.00. Following the purchase, the chief executive officer now directly owns 892,372 shares in the company, valued at $19,676,802.60. The trade was a 0.28 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.20% of the company's stock.

Wall Street Analyst Weigh In

MGY has been the topic of several research analyst reports. Piper Sandler boosted 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 report on Wednesday, January 29th. JPMorgan Chase & Co. decreased their price objective on shares of Magnolia Oil & Gas from $28.00 to $24.00 and set a "neutral" rating on the stock in a report on Thursday, March 13th. Johnson Rice lowered shares of Magnolia Oil & Gas from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, January 28th. Williams Trading set a $29.00 price target on shares of Magnolia Oil & Gas in a research report on Wednesday, March 5th. Finally, Mizuho upped their price target on Magnolia Oil & Gas from $27.00 to $28.00 and gave the stock a "neutral" rating in a report on Monday, December 16th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Magnolia Oil & Gas presently has an average rating of "Hold" and a consensus target price of $27.77.

Magnolia Oil & Gas Price Performance

Shares of MGY traded up $0.26 during trading hours on Tuesday, reaching $25.52. 2,194,213 shares of the company traded hands, compared to its average volume of 2,240,617. The stock has a fifty day simple moving average of $24.04 and a 200 day simple moving average of $25.11. Magnolia Oil & Gas Co. has a fifty-two week low of $21.63 and a fifty-two week high of $29.02. The stock has a market capitalization of $4.96 billion, a PE ratio of 13.22, a price-to-earnings-growth ratio of 3.01 and a beta of 1.90. The company has a quick ratio of 1.47, a current ratio of 1.42 and a debt-to-equity ratio of 0.20.

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

Magnolia Oil & Gas Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date of this dividend was Friday, February 14th. This is a positive change from Magnolia Oil & Gas's previous quarterly dividend of $0.13. Magnolia Oil & Gas's dividend payout ratio is currently 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.