Quantbot Technologies LP Sells 23,731 Shares of Magnolia Oil & Gas Co. (NYSE:MGY)

Quantbot Technologies LP reduced its position in shares of Magnolia Oil & Gas Co. (NYSE:MGY - Free Report) by 10.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 206,870 shares of the company's stock after selling 23,731 shares during the period. Quantbot Technologies LP owned 0.11% of Magnolia Oil & Gas worth $4,837,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of MGY. State Street Corp boosted its holdings in Magnolia Oil & Gas by 4.2% during the third quarter. State Street Corp now owns 10,700,257 shares of the company's stock valued at $261,300,000 after acquiring an additional 435,326 shares during the period. Geode Capital Management LLC increased its position in Magnolia Oil & Gas by 2.9% during the third 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 during the period. Boston Trust Walden Corp raised its stake in Magnolia Oil & Gas by 9.5% during the 4th quarter. Boston Trust Walden Corp now owns 3,090,587 shares of the company's stock valued at $72,258,000 after purchasing an additional 267,461 shares during the last quarter. Systematic Financial Management LP boosted its holdings in 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 valued at $71,307,000 after purchasing an additional 203,514 shares during the period. Finally, Loomis Sayles & Co. L P boosted its holdings in 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 valued at $67,950,000 after purchasing an additional 253,911 shares during the period. 94.73% of the stock is currently owned by institutional investors and hedge funds.

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Magnolia Oil & Gas Price Performance

MGY stock traded up $0.94 during trading on Wednesday, hitting $24.98. 3,696,677 shares of the stock traded hands, compared to its average volume of 2,082,042. The stock has a market cap of $4.85 billion, a price-to-earnings ratio of 12.94, a P/E/G ratio of 3.01 and a beta of 1.90. Magnolia Oil & Gas Co. has a one year low of $21.63 and a one year high of $29.02. 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 company has a 50 day simple moving average of $24.12 and a 200 day simple moving average of $25.02.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last posted its earnings results 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 net margin of 27.82% and a return on equity of 20.74%. The company had revenue of $326.61 million during the quarter, compared to analysts' expectations of $327.40 million. Equities analysts expect that Magnolia Oil & Gas Co. will post 2.1 EPS for the current fiscal 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. This is an increase from Magnolia Oil & Gas's previous quarterly dividend of $0.13. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.60 annualized dividend and a yield of 2.40%. Magnolia Oil & Gas's dividend payout ratio is 31.09%.

Insiders Place Their Bets

In related news, CEO Christopher G. Stavros purchased 2,500 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was acquired at an average price of $22.05 per share, with a total value of $55,125.00. Following the completion of the acquisition, the chief executive officer now directly owns 892,372 shares in the company, valued at approximately $19,676,802.60. This trade represents a 0.28 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.40% of the company's stock.

Analysts Set New Price Targets

MGY has been the subject of a number of research analyst reports. Williams Trading set a $29.00 price objective on shares of Magnolia Oil & Gas in a research report on Wednesday, March 5th. Johnson Rice lowered Magnolia Oil & Gas from a "moderate buy" rating to a "hold" rating in a report on Tuesday, January 28th. The Goldman Sachs Group cut Magnolia Oil & Gas from a "buy" rating to a "neutral" rating and lowered their price objective for the company from $27.00 to $26.00 in a research report on Friday, January 31st. Mizuho raised their target price on Magnolia Oil & Gas from $27.00 to $28.00 and gave the stock a "neutral" rating in a research report on Monday, December 16th. Finally, JPMorgan Chase & Co. lowered their price target 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. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $27.77.

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.