Cynosure Group LLC Sells 1,057 Shares of Magnolia Oil & Gas Co. (NYSE:MGY)

Cynosure Group LLC reduced its stake in shares of Magnolia Oil & Gas Co. (NYSE:MGY) by 7.5% during the 4th quarter, HoldingsChannel reports. The fund owned 13,067 shares of the company’s stock after selling 1,057 shares during the period. Cynosure Group LLC’s holdings in Magnolia Oil & Gas were worth $306,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in MGY. Soros Fund Management LLC purchased a new position in shares of Magnolia Oil & Gas in the 3rd quarter worth approximately $18,120,000. Barclays PLC lifted its position in Magnolia Oil & Gas by 62.5% in the third quarter. Barclays PLC now owns 1,653,736 shares of the company’s stock worth $40,383,000 after buying an additional 636,049 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Magnolia Oil & Gas during the fourth quarter worth $13,634,000. Vanguard Group Inc. increased its position in Magnolia Oil & Gas by 2.2% during the fourth quarter. Vanguard Group Inc. now owns 20,938,200 shares of the company’s stock valued at $489,535,000 after acquiring an additional 452,836 shares during the last quarter. Finally, State Street Corp raised its stake in shares of Magnolia Oil & Gas by 4.2% in the third quarter. State Street Corp now owns 10,700,257 shares of the company’s stock valued at $261,300,000 after acquiring an additional 435,326 shares during the period. 94.73% of the stock is owned by institutional investors.

Magnolia Oil & Gas Stock Up 0.9 %

Shares of NYSE MGY opened at $25.74 on Thursday. Magnolia Oil & Gas Co. has a 12-month low of $21.63 and a 12-month high of $29.02. The stock’s fifty day simple moving average is $24.03 and its two-hundred day simple moving average is $25.12. The stock has a market capitalization of $5.00 billion, a PE ratio of 13.34, a price-to-earnings-growth ratio of 3.01 and a beta of 1.57. 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 data on Tuesday, February 18th. The company reported $0.49 earnings per share 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%. As a group, analysts expect that Magnolia Oil & Gas Co. will post 2.1 EPS for the current fiscal year.

Magnolia Oil & Gas Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 2.33%. The ex-dividend date was Friday, February 14th. This is a positive change from Magnolia Oil & Gas’s previous quarterly dividend of $0.13. Magnolia Oil & Gas’s payout ratio is 31.09%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on MGY shares. JPMorgan Chase & Co. reduced their price objective on shares of 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. Piper Sandler boosted their price objective on Magnolia Oil & Gas from $24.00 to $26.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. Johnson Rice downgraded Magnolia Oil & Gas from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, January 28th. Bank of America restated a “neutral” rating and issued a $28.00 price target (down from $29.00) on shares of Magnolia Oil & Gas in a report on Monday, January 13th. Finally, The Goldman Sachs Group cut shares of Magnolia Oil & Gas from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $27.00 to $26.00 in a research report on Friday, January 31st. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, Magnolia Oil & Gas has a consensus rating of “Hold” and a consensus price target of $27.77.

Insider Activity at Magnolia Oil & Gas

In other Magnolia Oil & Gas news, CEO Christopher G. Stavros bought 2,500 shares of the company’s stock in a transaction that occurred 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 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 ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.20% of the stock is currently owned by corporate insiders.

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.