American Century Companies Inc. Sells 602,532 Shares of Magnolia Oil & Gas Co. (NYSE:MGY)

American Century Companies Inc. decreased its holdings in Magnolia Oil & Gas Co. (NYSE:MGY) by 5.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,940,130 shares of the company’s stock after selling 602,532 shares during the period. American Century Companies Inc. owned about 0.05% of Magnolia Oil & Gas worth $232,400,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Natixis Advisors LLC increased its stake in shares of Magnolia Oil & Gas by 3.5% during the third quarter. Natixis Advisors LLC now owns 96,936 shares of the company’s stock worth $2,367,000 after purchasing an additional 3,238 shares during the period. Pathstone Holdings LLC increased its stake in shares of Magnolia Oil & Gas by 17.0% during the third quarter. Pathstone Holdings LLC now owns 197,289 shares of the company’s stock worth $4,818,000 after purchasing an additional 28,677 shares during the period. PNC Financial Services Group Inc. increased its stake in shares of Magnolia Oil & Gas by 1.0% during the third quarter. PNC Financial Services Group Inc. now owns 52,834 shares of the company’s stock worth $1,290,000 after purchasing an additional 548 shares during the period. Jennison Associates LLC increased its stake in shares of Magnolia Oil & Gas by 2.2% during the third quarter. Jennison Associates LLC now owns 23,836 shares of the company’s stock worth $582,000 after purchasing an additional 506 shares during the period. Finally, Advisors Asset Management Inc. increased its stake in shares of Magnolia Oil & Gas by 196.6% during the third quarter. Advisors Asset Management Inc. now owns 6,096 shares of the company’s stock worth $149,000 after purchasing an additional 4,041 shares during the period. Institutional investors own 94.73% of the company’s stock.

Wall Street Analysts Forecast Growth

MGY has been the topic of a number of recent research reports. Williams Trading set a $29.00 target price on Magnolia Oil & Gas in a research note on Wednesday, March 5th. Piper Sandler increased their price target on Magnolia Oil & Gas from $24.00 to $26.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Truist Financial increased their price target on Magnolia Oil & Gas from $33.00 to $34.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Bank of America reissued a “neutral” rating and set a $28.00 price target (down previously from $29.00) on shares of Magnolia Oil & Gas in a research report on Monday, January 13th. Finally, JPMorgan Chase & Co. reduced their price target on Magnolia Oil & Gas from $28.00 to $24.00 and set a “neutral” rating on the stock in a research report on Thursday, March 13th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Magnolia Oil & Gas has an average rating of “Hold” and an average target price of $27.77.

Magnolia Oil & Gas Trading Down 1.2 %

Shares of MGY stock opened at $25.03 on Friday. The stock’s fifty day moving average price is $24.16 and its two-hundred day moving average price is $25.02. The company has a market cap of $4.86 billion, a PE ratio of 12.97, a P/E/G ratio of 3.01 and a beta of 1.90. Magnolia Oil & Gas Co. has a fifty-two week low of $21.63 and a fifty-two week high of $29.02. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.47 and a current ratio of 1.42.

Magnolia Oil & Gas (NYSE:MGY) last announced its quarterly earnings results on Tuesday, February 18th. The company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.03. Magnolia Oil & Gas had a return on equity of 20.74% and a net margin of 27.82%. The company had revenue of $326.61 million during the quarter, compared to analysts’ expectations of $327.40 million. Equities analysts predict that Magnolia Oil & Gas Co. will post 2.1 EPS for the current fiscal year.

Magnolia Oil & Gas Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were given 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 annualized dividend and a yield of 2.40%. The ex-dividend date was Friday, February 14th. Magnolia Oil & Gas’s dividend payout ratio (DPR) is currently 31.09%.

Insider Buying and Selling

In related news, CEO Christopher G. Stavros bought 2,500 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was acquired at an average cost of $22.05 per share, with a total value of $55,125.00. Following the transaction, the chief executive officer now directly owns 892,372 shares in the company, valued at approximately $19,676,802.60. This trade represents a 0.28 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.40% of the stock is owned by corporate insiders.

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.