Magnolia Oil & Gas Corp $MGY Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC lessened its stake in shares of Magnolia Oil & Gas Corp (NYSE:MGY) by 1.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,435,901 shares of the company’s stock after selling 85,084 shares during the period. Geode Capital Management LLC owned 2.35% of Magnolia Oil & Gas worth $97,124,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of MGY. Salomon & Ludwin LLC raised its position in shares of Magnolia Oil & Gas by 130.1% during the 4th quarter. Salomon & Ludwin LLC now owns 1,344 shares of the company’s stock worth $29,000 after purchasing an additional 760 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in shares of Magnolia Oil & Gas by 165.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,386 shares of the company’s stock worth $31,000 after purchasing an additional 864 shares during the last quarter. Torren Management LLC acquired a new position in shares of Magnolia Oil & Gas during the 4th quarter worth about $38,000. First Horizon Corp raised its position in shares of Magnolia Oil & Gas by 159.8% during the 4th quarter. First Horizon Corp now owns 1,889 shares of the company’s stock worth $41,000 after purchasing an additional 1,162 shares during the last quarter. Finally, Geneos Wealth Management Inc. raised its position in shares of Magnolia Oil & Gas by 90.5% during the 2nd quarter. Geneos Wealth Management Inc. now owns 2,212 shares of the company’s stock worth $50,000 after purchasing an additional 1,051 shares during the last quarter. Institutional investors and hedge funds own 94.73% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on MGY shares. Mizuho raised their target price on shares of Magnolia Oil & Gas from $33.00 to $35.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 27th. Weiss Ratings lowered shares of Magnolia Oil & Gas from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, May 21st. KeyCorp raised their target price on shares of Magnolia Oil & Gas from $30.00 to $38.00 and gave the stock an “overweight” rating in a research note on Thursday, April 2nd. The Goldman Sachs Group raised their target price on shares of Magnolia Oil & Gas from $23.00 to $26.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 11th. Finally, Piper Sandler raised their target price on shares of Magnolia Oil & Gas from $28.00 to $31.00 and gave the stock a “neutral” rating in a research note on Thursday, March 12th. Seven investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $31.42.

Magnolia Oil & Gas Stock Down 2.4%

Shares of NYSE MGY opened at $27.52 on Friday. The company has a 50 day simple moving average of $29.32 and a 200-day simple moving average of $26.47. The company has a market capitalization of $5.09 billion, a P/E ratio of 16.00 and a beta of 0.71. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.10 and a quick ratio of 1.10. Magnolia Oil & Gas Corp has a 1 year low of $21.07 and a 1 year high of $32.76.

Magnolia Oil & Gas (NYSE:MGY) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.03. The business had revenue of $358.51 million during the quarter, compared to the consensus estimate of $349.89 million. Magnolia Oil & Gas had a net margin of 24.40% and a return on equity of 16.28%. The business’s revenue was up 2.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.54 EPS. On average, equities research analysts predict that Magnolia Oil & Gas Corp will post 2.82 earnings per share for the current year.

Magnolia Oil & Gas Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Tuesday, May 12th were issued a dividend of $0.165 per share. The ex-dividend date was Tuesday, May 12th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 2.4%. Magnolia Oil & Gas’s dividend payout ratio (DPR) is currently 38.37%.

Insider Buying and Selling at Magnolia Oil & Gas

In other news, EVP Timothy D. Yang sold 150,000 shares of the firm’s stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $29.29, for a total transaction of $4,393,500.00. Following the completion of the sale, the executive vice president owned 526,661 shares in the company, valued at $15,425,900.69. This trade represents a 22.17% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Dan F. Smith sold 18,000 shares of the firm’s stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $29.01, for a total transaction of $522,180.00. Following the sale, the director owned 119,204 shares of the company’s stock, valued at $3,458,108.04. This represents a 13.12% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 338,954 shares of company stock worth $9,911,733. Insiders own 0.92% of the company’s stock.

Magnolia Oil & Gas Company Profile

Magnolia Oil & Gas Corp (NYSE: MGY) is an independent exploration and production company focused on the acquisition, development and optimization of onshore oil and gas assets in South Texas. Headquartered in Houston, the company concentrates its efforts on the Eagle Ford Shale, where it holds significant working interests in key producing counties.

The company’s core operations center on horizontal drilling and multi-stage completions designed to extract light crude oil, natural gas and natural gas liquids (NGLs).