Ranger Investment Management L.P. Has $24.11 Million Holdings in Magnolia Oil & Gas Co. (NYSE:MGY)

Ranger Investment Management L.P. lessened its holdings in shares of Magnolia Oil & Gas Co. (NYSE:MGY - Free Report) by 1.9% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 1,031,099 shares of the company's stock after selling 19,730 shares during the period. Magnolia Oil & Gas accounts for about 1.5% of Ranger Investment Management L.P.'s portfolio, making the stock its 27th largest position. Ranger Investment Management L.P. owned 0.52% of Magnolia Oil & Gas worth $24,107,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Mather Group LLC. lifted its holdings in Magnolia Oil & Gas by 100.0% during the 4th quarter. Mather Group LLC. now owns 1,090 shares of the company's stock worth $25,000 after buying an additional 545 shares in the last quarter. Larson Financial Group LLC boosted its holdings in Magnolia Oil & Gas by 112.3% in the fourth quarter. Larson Financial Group LLC now owns 1,072 shares of the company's stock valued at $25,000 after acquiring an additional 567 shares during the last quarter. R Squared Ltd acquired a new stake in Magnolia Oil & Gas in the fourth quarter worth about $43,000. Avior Wealth Management LLC lifted its position in Magnolia Oil & Gas by 30.0% during the 4th quarter. Avior Wealth Management LLC now owns 2,194 shares of the company's stock valued at $51,000 after purchasing an additional 506 shares during the period. Finally, Smartleaf Asset Management LLC boosted its stake in shares of Magnolia Oil & Gas by 95.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 3,777 shares of the company's stock valued at $88,000 after purchasing an additional 1,844 shares during the last quarter. 94.73% of the stock is currently owned by institutional investors and hedge funds.

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Analysts Set New Price Targets

Several brokerages recently weighed in on MGY. Johnson Rice lowered shares of Magnolia Oil & Gas from a "moderate buy" rating to a "hold" rating in a report on Tuesday, January 28th. The Goldman Sachs Group downgraded Magnolia Oil & Gas from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $27.00 to $26.00 in a report on Friday, January 31st. Bank of America reiterated a "neutral" rating and issued a $28.00 price target (down from $29.00) on shares of Magnolia Oil & Gas in a research report on Monday, January 13th. Citigroup dropped their price target on Magnolia Oil & Gas from $22.00 to $19.00 and set a "sell" rating on the stock in a research report on Tuesday, April 8th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Magnolia Oil & Gas from $28.00 to $24.00 and set a "neutral" rating for the company in a research report on Thursday, March 13th. Two 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, the stock currently has a consensus rating of "Hold" and an average target price of $27.54.

Magnolia Oil & Gas Price Performance

MGY stock traded down $0.19 during midday trading on Monday, reaching $20.19. The company had a trading volume of 639,092 shares, compared to its average volume of 2,291,313. Magnolia Oil & Gas Co. has a 1-year low of $19.09 and a 1-year high of $29.02. The stock has a 50 day moving average price of $23.38 and a 200-day moving average price of $24.86. 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 company has a market capitalization of $3.92 billion, a price-to-earnings ratio of 10.46, a price-to-earnings-growth ratio of 3.01 and a beta of 1.57.

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

Magnolia Oil & Gas Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.97%. The ex-dividend date of this dividend was Friday, February 14th. This is an increase from Magnolia Oil & Gas's previous quarterly dividend of $0.13. Magnolia Oil & Gas's dividend payout ratio (DPR) is currently 31.09%.

Insider Activity

In other Magnolia Oil & Gas news, CEO Christopher G. Stavros acquired 2,500 shares of Magnolia Oil & Gas stock in a transaction that occurred on Monday, March 3rd. The shares were acquired at an average cost of $22.05 per share, with a total value of $55,125.00. Following the completion of the purchase, the chief executive officer now directly owns 892,372 shares of the company's stock, valued at $19,676,802.60. This 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 link. Corporate insiders own 1.20% of the company's stock.

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.