T. Rowe Price Investment Management Inc. Sells 1,315,624 Shares of Magnolia Oil & Gas Co. (NYSE:MGY)

T. Rowe Price Investment Management Inc. lessened its holdings in shares of Magnolia Oil & Gas Co. (NYSE:MGY - Free Report) by 14.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,950,997 shares of the company's stock after selling 1,315,624 shares during the quarter. T. Rowe Price Investment Management Inc. owned approximately 4.05% of Magnolia Oil & Gas worth $185,895,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Mather Group LLC. increased its holdings in shares of 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 acquiring an additional 545 shares during the last quarter. Larson Financial Group LLC increased its holdings in shares of 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 purchasing an additional 567 shares during the last quarter. R Squared Ltd acquired a new position in shares of Magnolia Oil & Gas in the fourth quarter valued at $43,000. Avior Wealth Management LLC raised its position in shares of Magnolia Oil & Gas by 30.0% in the fourth 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 grew its stake in 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 buying an additional 1,844 shares during the last quarter. Institutional investors own 94.73% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on MGY. Susquehanna lowered their price target on shares of Magnolia Oil & Gas from $31.00 to $30.00 and set a "positive" rating on the stock in a research report on Tuesday, April 22nd. Truist Financial lifted their price target on shares of Magnolia Oil & Gas from $33.00 to $34.00 and gave the company a "buy" rating in a research report on Monday, January 13th. UBS Group started coverage on Magnolia Oil & Gas in a research report on Tuesday, April 22nd. They set a "buy" rating and a $26.00 price target on the stock. Bank of America reiterated a "neutral" rating and set a $28.00 target price (down from $29.00) on shares of Magnolia Oil & Gas in a research report on Monday, January 13th. Finally, Williams Trading set a $29.00 price target on Magnolia Oil & Gas in a research note on Wednesday, March 5th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $27.21.

Magnolia Oil & Gas Trading Up 2.2 %

Shares of MGY traded up $0.47 during trading hours on Monday, hitting $21.69. 3,068,566 shares of the stock were exchanged, compared to its average volume of 2,301,796. The firm has a market capitalization of $4.21 billion, a P/E ratio of 11.24, a price-to-earnings-growth ratio of 3.01 and a beta of 1.57. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.42 and a quick ratio of 1.47. Magnolia Oil & Gas Co. has a fifty-two week low of $19.09 and a fifty-two week high of $29.02. The business has a 50-day moving average of $22.85 and a 200-day moving average of $24.51.

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. The company had revenue of $326.61 million for the quarter, compared to the consensus estimate of $327.40 million. Magnolia Oil & Gas had a return on equity of 20.74% and a net margin of 27.82%. On average, research analysts expect that Magnolia Oil & Gas Co. will post 2.1 EPS for the current year.

Magnolia Oil & Gas Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were paid a $0.15 dividend. This is an increase from Magnolia Oil & Gas's previous quarterly dividend of $0.13. This represents a $0.60 annualized dividend and a yield of 2.77%. The ex-dividend date was Friday, February 14th. Magnolia Oil & Gas's payout ratio is 31.09%.

Insider Activity

In other Magnolia Oil & Gas news, CEO Christopher G. Stavros acquired 2,500 shares of the stock in a transaction on Monday, March 3rd. The shares were purchased at an average price of $22.05 per share, for a total transaction 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 represents a 0.28 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company 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.