Diamond Hill Capital Management Inc. Has $12.12 Million Stock Position in Magnolia Oil & Gas Co. (NYSE:MGY)

Diamond Hill Capital Management Inc. lowered its holdings in shares of Magnolia Oil & Gas Co. (NYSE:MGY) by 8.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 518,417 shares of the company’s stock after selling 47,522 shares during the period. Diamond Hill Capital Management Inc.’s holdings in Magnolia Oil & Gas were worth $12,121,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in MGY. First Horizon Advisors Inc. grew its stake in Magnolia Oil & Gas by 64.7% during the third quarter. First Horizon Advisors Inc. now owns 1,008 shares of the company’s stock worth $25,000 after purchasing an additional 396 shares during the period. Mather Group LLC. grew its stake in Magnolia Oil & Gas by 100.0% in the fourth quarter. Mather Group LLC. now owns 1,090 shares of the company’s stock valued at $25,000 after acquiring an additional 545 shares during the period. Larson Financial Group LLC grew its stake 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 period. R Squared Ltd acquired a new stake in Magnolia Oil & Gas in the fourth quarter valued at approximately $43,000. Finally, Avior Wealth Management LLC grew its stake in 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 acquiring an additional 506 shares during the period. Institutional investors and hedge funds own 94.73% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on MGY. Bank of America reissued a “neutral” rating and issued a $28.00 price objective (down previously from $29.00) on shares of Magnolia Oil & Gas in a research note on Monday, January 13th. Piper Sandler raised their price objective on Magnolia Oil & Gas from $24.00 to $26.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. JPMorgan Chase & Co. reduced their price objective on Magnolia Oil & Gas from $28.00 to $24.00 and set a “neutral” rating for the company in a research note on Thursday. Mizuho raised their price objective on Magnolia Oil & Gas from $27.00 to $28.00 and gave the company a “neutral” rating in a research note on Monday, December 16th. Finally, The Goldman Sachs Group lowered Magnolia Oil & Gas from a “buy” rating to a “neutral” rating and dropped their target price for the company from $27.00 to $26.00 in a report on Friday, January 31st. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $27.77.

Magnolia Oil & Gas Stock Performance

Shares of Magnolia Oil & Gas stock opened at $23.27 on Friday. The business’s fifty day simple moving average is $24.12 and its 200 day simple moving average is $25.05. The firm has a market capitalization of $4.52 billion, a P/E ratio of 12.06, a price-to-earnings-growth ratio of 3.01 and a beta of 1.90. Magnolia Oil & Gas Co. has a 12 month low of $21.63 and a 12 month 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.

Magnolia Oil & Gas (NYSE:MGY) last issued its quarterly earnings results on Tuesday, February 18th. The company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.03. The business had revenue of $326.61 million for the quarter, compared to analyst estimates 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, analysts anticipate that Magnolia Oil & Gas Co. will post 2.1 EPS for the current year.

Magnolia Oil & Gas Increases Dividend

The firm 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 is a positive change from Magnolia Oil & Gas’s previous quarterly dividend of $0.13. This represents a $0.60 dividend on an annualized basis and a yield of 2.58%. The ex-dividend date was Friday, February 14th. Magnolia Oil & Gas’s dividend payout ratio (DPR) is 31.09%.

Insider Buying and Selling

In other news, CEO Christopher G. Stavros bought 2,500 shares of the stock in a transaction on Monday, March 3rd. The shares were purchased at an average cost of $22.05 per share, for a total transaction of $55,125.00. Following the completion of the purchase, the chief executive officer now directly owns 892,372 shares in the company, valued at $19,676,802.60. This represents a 0.28 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.20% of the stock is currently owned by corporate insiders.

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.