Stephens Investment Management Group LLC Lowers Position in Magnolia Oil & Gas Co. (NYSE:MGY)

Stephens Investment Management Group LLC trimmed its stake in shares of Magnolia Oil & Gas Co. (NYSE:MGY - Free Report) by 4.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,739,348 shares of the company's stock after selling 122,430 shares during the quarter. Stephens Investment Management Group LLC owned approximately 1.35% of Magnolia Oil & Gas worth $66,895,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Nordea Investment Management AB grew its position in Magnolia Oil & Gas by 37.1% during the 1st quarter. Nordea Investment Management AB now owns 521,702 shares of the company's stock worth $13,387,000 after acquiring an additional 141,046 shares during the last quarter. Maryland State Retirement & Pension System bought a new position in Magnolia Oil & Gas during the 1st quarter worth approximately $1,721,000. Texas Permanent School Fund Corp bought a new position in Magnolia Oil & Gas during the 1st quarter worth approximately $4,207,000. Vanguard Group Inc. grew its position in Magnolia Oil & Gas by 16.6% during the 1st quarter. Vanguard Group Inc. now owns 20,757,369 shares of the company's stock worth $538,654,000 after acquiring an additional 2,956,314 shares during the last quarter. Finally, Oliver Luxxe Assets LLC grew its position in Magnolia Oil & Gas by 80.6% during the 3rd quarter. Oliver Luxxe Assets LLC now owns 87,624 shares of the company's stock worth $2,140,000 after acquiring an additional 39,098 shares during the last quarter. 94.73% of the stock is currently owned by institutional investors.

Magnolia Oil & Gas Price Performance

NYSE:MGY traded down $0.30 during trading hours on Friday, hitting $24.98. 1,773,159 shares of the stock traded hands, compared to its average volume of 2,551,911. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.21. Magnolia Oil & Gas Co. has a 1 year low of $19.16 and a 1 year high of $27.63. The company has a market cap of $4.97 billion, a price-to-earnings ratio of 12.37, a price-to-earnings-growth ratio of 1.30 and a beta of 1.99. The stock has a 50 day moving average price of $25.32 and a 200 day moving average price of $25.37.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.04. Magnolia Oil & Gas had a net margin of 28.88% and a return on equity of 20.94%. The business had revenue of $333.14 million for the quarter, compared to the consensus estimate of $331.45 million. Sell-side analysts forecast that Magnolia Oil & Gas Co. will post 1.99 EPS for the current fiscal year.

Magnolia Oil & Gas Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be issued a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 2.08%. The ex-dividend date is Friday, November 8th. Magnolia Oil & Gas's dividend payout ratio (DPR) is presently 25.74%.

Insider Transactions at Magnolia Oil & Gas

In related news, Director Ltd. Enervest sold 7,000,000 shares of the business's stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $25.86, for a total value of $181,020,000.00. Following the sale, the director now owns 2,099,403 shares in the company, valued at approximately $54,290,561.58. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.20% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Wells Fargo & Company cut Magnolia Oil & Gas from an "equal weight" rating to an "underweight" rating and lowered their price objective for the company from $26.00 to $22.00 in a research note on Tuesday, October 1st. Wolfe Research assumed coverage on Magnolia Oil & Gas in a research note on Thursday, July 18th. They issued an "outperform" rating and a $32.00 price target for the company. Piper Sandler decreased their price target on Magnolia Oil & Gas from $29.00 to $26.00 and set a "neutral" rating for the company in a research note on Thursday, August 15th. Susquehanna decreased their price target on Magnolia Oil & Gas from $33.00 to $32.00 and set a "positive" rating for the company in a research note on Wednesday, September 4th. Finally, Mizuho decreased their price target on Magnolia Oil & Gas from $28.00 to $27.00 and set a "neutral" rating for the company in a research note on Monday, September 16th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Magnolia Oil & Gas presently has a consensus rating of "Hold" and an average price target of $27.67.

Magnolia Oil & Gas Profile

Magnolia Oil & Gas Corporation, an independent oil and natural gas company, engages in the acquisition, development, exploration, and production of oil, natural gas, and natural gas liquids reserves in the United States. Its properties are located primarily in Karnes County and the Giddings area in South Texas principally comprising the Eagle Ford Shale and the Austin Chalk formation.