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

Stephens Investment Management Group LLC decreased its position in Magnolia Oil & Gas Co. (NYSE:MGY - Free Report) by 1.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,707,336 shares of the company's stock after selling 32,012 shares during the quarter. Stephens Investment Management Group LLC owned 1.38% of Magnolia Oil & Gas worth $63,298,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Harbor Capital Advisors Inc. purchased a new stake in Magnolia Oil & Gas in the 3rd quarter worth approximately $25,000. First Horizon Advisors Inc. lifted its holdings in Magnolia Oil & Gas by 64.7% in the 3rd quarter. First Horizon Advisors Inc. now owns 1,008 shares of the company's stock worth $25,000 after buying an additional 396 shares in the last quarter. Mather Group LLC. lifted its holdings in Magnolia Oil & Gas by 100.0% in 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. R Squared Ltd bought a new stake in shares of Magnolia Oil & Gas in the 4th quarter worth about $43,000. Finally, Avior Wealth Management LLC increased its position in shares of Magnolia Oil & Gas by 30.0% in the 4th quarter. Avior Wealth Management LLC now owns 2,194 shares of the company's stock worth $51,000 after purchasing an additional 506 shares during the last quarter. Hedge funds and other institutional investors own 94.73% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on MGY shares. Benchmark reaffirmed a "hold" rating on shares of Magnolia Oil & Gas in a research report on Tuesday, October 15th. Bank of America reaffirmed a "neutral" rating and issued a $28.00 price target (down from $29.00) on shares of Magnolia Oil & Gas in a research note on Monday, January 13th. Truist Financial upped their price target on shares of Magnolia Oil & Gas from $33.00 to $34.00 and gave the stock a "buy" rating in a research note on Monday, January 13th. Johnson Rice lowered shares of Magnolia Oil & Gas from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, January 28th. Finally, Mizuho increased their target price on shares of Magnolia Oil & Gas from $27.00 to $28.00 and gave the company a "neutral" rating in a research note on Monday, December 16th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Magnolia Oil & Gas presently has a consensus rating of "Hold" and a consensus target price of $27.58.

Magnolia Oil & Gas Trading Down 3.5 %

Magnolia Oil & Gas stock traded down $0.83 during mid-day trading on Wednesday, hitting $22.99. 1,504,856 shares of the stock were exchanged, compared to its average volume of 1,795,045. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.20. Magnolia Oil & Gas Co. has a 12 month low of $20.08 and a 12 month high of $29.02. The firm's fifty day simple moving average is $24.50 and its two-hundred day simple moving average is $25.30. The stock has a market capitalization of $4.52 billion, a price-to-earnings ratio of 11.38, a PEG ratio of 2.85 and a beta of 1.98.

Magnolia Oil & Gas Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Friday, February 14th will be given a $0.15 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $0.60 annualized dividend and a yield of 2.61%. This is an increase from Magnolia Oil & Gas's previous quarterly dividend of $0.13. Magnolia Oil & Gas's dividend payout ratio (DPR) is presently 25.74%.

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.