Victory Capital Management Inc. Sells 653,086 Shares of Magnolia Oil & Gas Co. (NYSE:MGY)

Victory Capital Management Inc. cut its holdings in Magnolia Oil & Gas Co. (NYSE:MGY - Free Report) by 12.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,672,600 shares of the company's stock after selling 653,086 shares during the period. Victory Capital Management Inc. owned approximately 2.38% of Magnolia Oil & Gas worth $109,245,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MGY. State Street Corp increased its holdings 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 purchasing an additional 435,326 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Magnolia Oil & Gas by 2.9% during the 3rd quarter. Geode Capital Management LLC now owns 4,107,769 shares of the company's stock worth $100,332,000 after buying an additional 116,431 shares during the period. Boston Trust Walden Corp increased 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 valued at $72,258,000 after acquiring an additional 267,461 shares in the last quarter. Systematic Financial Management LP lifted its position in shares of Magnolia Oil & Gas by 7.5% during the 3rd quarter. Systematic Financial Management LP now owns 2,920,018 shares of the company's stock valued at $71,307,000 after acquiring an additional 203,514 shares during the period. Finally, Loomis Sayles & Co. L P boosted its stake in Magnolia Oil & Gas by 10.0% during the third 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. 94.73% of the stock is owned by institutional investors and hedge funds.

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Insider Buying and Selling

In other news, CEO Christopher G. Stavros acquired 2,500 shares of Magnolia Oil & Gas stock in a transaction on Monday, March 3rd. The stock was acquired at an average cost of $22.05 per share, with a total value of $55,125.00. Following the completion of the acquisition, 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.20% of the stock is currently owned by corporate insiders.

Magnolia Oil & Gas Stock Performance

Shares of NYSE MGY traded up $0.68 during midday trading on Friday, reaching $23.28. The company's stock had a trading volume of 3,227,934 shares, compared to its average volume of 2,222,762. The stock has a market capitalization of $4.52 billion, a P/E ratio of 12.06, a PEG ratio of 3.01 and a beta of 1.90. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.42 and a quick ratio of 1.47. The firm has a 50 day moving average price of $24.16 and a 200-day moving average price of $25.12. Magnolia Oil & Gas Co. has a 12-month low of $21.63 and a 12-month high of $29.02.

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

Magnolia Oil & Gas Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.60 annualized dividend and a yield of 2.58%. This is a positive change from Magnolia Oil & Gas's previous quarterly dividend of $0.13. Magnolia Oil & Gas's dividend payout ratio is presently 31.09%.

Analysts Set New Price Targets

Several research firms have weighed in on MGY. Piper Sandler lifted their price target on shares of Magnolia Oil & Gas from $24.00 to $26.00 and gave the company a "neutral" rating in a research note on Wednesday, January 29th. Johnson Rice lowered Magnolia Oil & Gas from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, January 28th. Mizuho upped their price target on Magnolia Oil & Gas from $27.00 to $28.00 and gave the stock a "neutral" rating in a research note on Monday, December 16th. The Goldman Sachs Group lowered Magnolia Oil & Gas from a "buy" rating to a "neutral" rating and lowered their target price for the stock from $27.00 to $26.00 in a research report on Friday, January 31st. Finally, Bank of America reiterated a "neutral" rating and set a $28.00 price objective (down from $29.00) on shares of Magnolia Oil & Gas in a report on Monday, January 13th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $27.58.

Magnolia Oil & Gas 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.