Quantbot Technologies LP Decreases Stock Holdings in Magnolia Oil & Gas Co. (NYSE:MGY)

Quantbot Technologies LP reduced its position in shares of Magnolia Oil & Gas Co. (NYSE:MGY) by 10.3% in the 4th quarter, Holdings Channel.com reports. The firm owned 206,870 shares of the company’s stock after selling 23,731 shares during the period. Quantbot Technologies LP’s holdings in Magnolia Oil & Gas were worth $4,837,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of MGY. Atria Investments Inc lifted its position in Magnolia Oil & Gas by 2.3% in the third quarter. Atria Investments Inc now owns 23,576 shares of the company’s stock valued at $576,000 after acquiring an additional 523 shares during the last quarter. State of New Jersey Common Pension Fund D lifted its position in Magnolia Oil & Gas by 4.4% in the third quarter. State of New Jersey Common Pension Fund D now owns 77,092 shares of the company’s stock valued at $1,883,000 after acquiring an additional 3,230 shares during the last quarter. OneDigital Investment Advisors LLC lifted its position in Magnolia Oil & Gas by 6.5% in the third quarter. OneDigital Investment Advisors LLC now owns 15,304 shares of the company’s stock valued at $374,000 after acquiring an additional 933 shares during the last quarter. Valley Wealth Managers Inc. lifted its position in Magnolia Oil & Gas by 1.9% in the third quarter. Valley Wealth Managers Inc. now owns 673,064 shares of the company’s stock valued at $16,436,000 after acquiring an additional 12,676 shares during the last quarter. Finally, Natixis Advisors LLC lifted its position in Magnolia Oil & Gas by 3.5% in the third quarter. Natixis Advisors LLC now owns 96,936 shares of the company’s stock valued at $2,367,000 after acquiring an additional 3,238 shares during the last quarter. 94.73% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on MGY. The Goldman Sachs Group lowered shares of Magnolia Oil & Gas from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $27.00 to $26.00 in a research note on Friday, January 31st. Bank of America reiterated a “neutral” rating and set a $28.00 price target (down from $29.00) on shares of Magnolia Oil & Gas in a research note on Monday, January 13th. Johnson Rice lowered shares of Magnolia Oil & Gas from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, January 28th. Piper Sandler boosted their price target on shares of Magnolia Oil & Gas from $24.00 to $26.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. Finally, Williams Trading set a $29.00 target price on shares of Magnolia Oil & Gas in a research report on Wednesday, March 5th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Magnolia Oil & Gas currently has a consensus rating of “Hold” and an average target price of $27.77.

Insider Activity at Magnolia Oil & Gas

In related news, CEO Christopher G. Stavros purchased 2,500 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were bought at an average price of $22.05 per share, with a total value 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 approximately $19,676,802.60. This trade represents a 0.28 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 1.20% of the company’s stock.

Magnolia Oil & Gas Stock Up 3.2 %

Shares of NYSE MGY opened at $23.27 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.42 and a quick ratio of 1.47. The company has a market capitalization of $4.52 billion, a PE ratio of 12.06, a price-to-earnings-growth ratio of 3.01 and a beta of 1.90. The firm’s 50-day moving average is $24.12 and its two-hundred day moving average is $25.05. Magnolia Oil & Gas Co. has a 12-month low of $21.63 and a 12-month high of $29.02.

Magnolia Oil & Gas (NYSE:MGY) last announced its quarterly earnings data on Tuesday, February 18th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.03. The business had revenue of $326.61 million for the quarter, compared to the consensus estimate of $327.40 million. Magnolia Oil & Gas had a net margin of 27.82% and a return on equity of 20.74%. Equities analysts anticipate 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 is an increase from Magnolia Oil & Gas’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.60 annualized dividend and a dividend yield of 2.58%. Magnolia Oil & Gas’s dividend payout ratio is presently 31.09%.

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.