Stephens Investment Management Group LLC Reduces Holdings in Magnolia Oil & Gas Co. (NYSE:MGY)

Stephens Investment Management Group LLC reduced its position in Magnolia Oil & Gas Co. (NYSE:MGY) by 4.3% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,739,348 shares of the company’s stock after selling 122,430 shares during the quarter. Stephens Investment Management Group LLC owned about 1.35% of Magnolia Oil & Gas worth $66,895,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. State of Alaska Department of Revenue purchased a new position in shares of Magnolia Oil & Gas in the first quarter worth about $2,928,000. Maryland State Retirement & Pension System purchased a new position in Magnolia Oil & Gas during the first quarter worth approximately $1,721,000. Fidelis Capital Partners LLC acquired a new position in Magnolia Oil & Gas during the first quarter worth $50,000. Nordea Investment Management AB grew its holdings in Magnolia Oil & Gas by 37.1% in the 1st quarter. Nordea Investment Management AB now owns 521,702 shares of the company’s stock valued at $13,387,000 after buying an additional 141,046 shares in the last quarter. Finally, FORA Capital LLC acquired a new stake in shares of Magnolia Oil & Gas in the 1st quarter worth $404,000. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Magnolia Oil & Gas Stock Performance

NYSE MGY opened at $25.28 on Friday. The company has a market cap of $5.03 billion, a P/E ratio of 12.51, a P/E/G ratio of 1.30 and a beta of 1.99. Magnolia Oil & Gas Co. has a 1-year low of $19.16 and a 1-year high of $27.63. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.28 and a quick ratio of 1.28. The stock has a 50-day moving average of $25.32 and a two-hundred day moving average of $25.37.

Magnolia Oil & Gas (NYSE:MGY) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.48 by $0.04. Magnolia Oil & Gas had a net margin of 28.88% and a return on equity of 20.94%. The business had revenue of $333.14 million during the quarter, compared to the consensus estimate of $331.45 million. As a group, analysts anticipate that Magnolia Oil & Gas Co. will post 1.99 EPS for the current year.

Magnolia Oil & Gas Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 8th will be paid a dividend of $0.13 per share. The ex-dividend date is Friday, November 8th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.06%. Magnolia Oil & Gas’s payout ratio is 25.74%.

Insider Activity at Magnolia Oil & Gas

In other news, Director Ltd. Enervest sold 7,000,000 shares of Magnolia Oil & Gas stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $25.86, for a total transaction of $181,020,000.00. Following the completion of the sale, the director now directly owns 2,099,403 shares of the company’s stock, valued at approximately $54,290,561.58. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.20% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on MGY. Benchmark reissued a “hold” rating on shares of Magnolia Oil & Gas in a research report on Tuesday, October 15th. Siebert Williams Shank lowered shares of Magnolia Oil & Gas from a “buy” rating to a “hold” rating and set a $30.00 target price on the stock. in a report on Tuesday, October 15th. Susquehanna decreased their price objective on Magnolia Oil & Gas from $33.00 to $32.00 and set a “positive” rating on the stock in a report on Wednesday, September 4th. Wolfe Research assumed coverage on Magnolia Oil & Gas in a research note on Thursday, July 18th. They set an “outperform” rating and a $32.00 target price for the company. Finally, Truist Financial decreased their price target on Magnolia Oil & Gas from $35.00 to $31.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $27.50.

Magnolia Oil & Gas Company Profile

Magnolia Oil & Gas Corporation, an independent oil and natural gas company, engages in the acquisition, development, exploration, and production of oil, natural gas, and natural gas liquids reserves in the United States. Its properties are located primarily in Karnes County and the Giddings area in South Texas principally comprising the Eagle Ford Shale and the Austin Chalk formation.