Magnolia Oil & Gas Co. (NYSE:MGY) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans cut its position in shares of Magnolia Oil & Gas Co. (NYSE:MGY - Free Report) by 26.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 406,863 shares of the company's stock after selling 144,703 shares during the quarter. Thrivent Financial for Lutherans owned approximately 0.21% of Magnolia Oil & Gas worth $9,512,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. First Horizon Advisors Inc. grew its stake 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 acquiring an additional 396 shares during the period. Mather Group LLC. boosted its holdings in shares of Magnolia Oil & Gas by 100.0% during the fourth quarter. Mather Group LLC. now owns 1,090 shares of the company's stock worth $25,000 after purchasing an additional 545 shares during the last quarter. Larson Financial Group LLC grew its position 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 period. R Squared Ltd acquired a new position in Magnolia Oil & Gas in the fourth quarter valued at $43,000. Finally, Avior Wealth Management LLC lifted its position in Magnolia Oil & Gas by 30.0% during the fourth quarter. Avior Wealth Management LLC now owns 2,194 shares of the company's stock worth $51,000 after buying an additional 506 shares during the period. Institutional investors and hedge funds own 94.73% of the company's stock.

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Insider Buying and Selling

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 stock was purchased at an average price of $22.05 per share, for a total transaction of $55,125.00. Following the purchase, the chief executive officer now directly owns 892,372 shares in the company, valued at $19,676,802.60. This trade represents a 0.28 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.20% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have commented on MGY shares. Piper Sandler lifted their price target on Magnolia Oil & Gas from $24.00 to $26.00 and gave the company a "neutral" rating in a report on Wednesday, January 29th. Mizuho increased their price target on shares of Magnolia Oil & Gas from $27.00 to $28.00 and gave the stock a "neutral" rating in a research note on Monday, December 16th. JPMorgan Chase & Co. lowered 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 note on Thursday, March 13th. Johnson Rice downgraded Magnolia Oil & Gas from a "moderate buy" rating to a "hold" rating in a report on Tuesday, January 28th. Finally, Bank of America reiterated a "neutral" rating and issued a $28.00 target price (down previously from $29.00) on shares of Magnolia Oil & Gas in a report on Monday, January 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 company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $27.77.

Magnolia Oil & Gas Stock Up 1.1 %

Shares of NYSE MGY traded up $0.28 on Wednesday, hitting $25.63. The company had a trading volume of 2,041,936 shares, compared to its average volume of 2,167,298. The firm has a market capitalization of $4.98 billion, a P/E ratio of 13.28, a PEG ratio of 3.01 and a beta of 1.90. The company has a quick ratio of 1.47, a current ratio of 1.42 and a debt-to-equity ratio of 0.20. Magnolia Oil & Gas Co. has a 12-month low of $21.63 and a 12-month high of $29.02. The business has a 50 day moving average of $24.14 and a two-hundred day moving average of $25.05.

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

Magnolia Oil & Gas Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 2.34%. This is a positive change from Magnolia Oil & Gas's previous quarterly dividend of $0.13. The ex-dividend date of this dividend was Friday, February 14th. Magnolia Oil & Gas's dividend payout ratio (DPR) is presently 31.09%.

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.