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

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

Several other institutional investors have also recently added to or reduced their stakes in MGY. Salomon & Ludwin LLC increased its holdings in Magnolia Oil & Gas by 130.1% in the 4th quarter. Salomon & Ludwin LLC now owns 1,344 shares of the company’s stock valued at $29,000 after purchasing an additional 760 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in Magnolia Oil & Gas by 165.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,386 shares of the company’s stock valued at $31,000 after purchasing an additional 864 shares during the last quarter. Torren Management LLC acquired a new stake in Magnolia Oil & Gas in the 4th quarter valued at approximately $38,000. First Horizon Corp increased its holdings in Magnolia Oil & Gas by 159.8% in the 4th quarter. First Horizon Corp now owns 1,889 shares of the company’s stock valued at $41,000 after purchasing an additional 1,162 shares during the last quarter. Finally, Geneos Wealth Management Inc. increased its holdings in Magnolia Oil & Gas by 90.5% in the 2nd quarter. Geneos Wealth Management Inc. now owns 2,212 shares of the company’s stock valued at $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.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Siebert Williams Shank downgraded shares of Magnolia Oil & Gas from a “buy” rating to a “hold” rating in a report on Friday, March 6th. Weiss Ratings downgraded shares of Magnolia Oil & Gas from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, May 21st. Truist Financial lifted their target price on shares of Magnolia Oil & Gas from $33.00 to $34.00 and gave the company a “hold” rating in a report on Monday, April 27th. Citigroup dropped their target price on shares of Magnolia Oil & Gas from $35.00 to $32.00 and set a “neutral” rating for the company in a report on Monday, April 13th. Finally, Roth Mkm restated a “neutral” rating and issued a $32.00 price target (up from $29.00) on shares of Magnolia Oil & Gas in a research note on Wednesday, April 8th. Seven investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $31.42.

Insiders Place Their Bets

In other news, Director Edward P. Djerejian sold 18,000 shares of Magnolia Oil & Gas stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $28.98, for a total transaction of $521,640.00. Following the completion of the sale, the director directly owned 110,425 shares of the company’s stock, valued at approximately $3,200,116.50. The trade was a 14.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Brian Corales sold 33,000 shares of Magnolia Oil & Gas stock in a transaction on Monday, March 9th. The stock was sold at an average price of $29.12, for a total transaction of $960,960.00. Following the sale, the chief financial officer directly owned 184,178 shares of the company’s stock, valued at approximately $5,363,263.36. This trade represents a 15.19% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 338,954 shares of company stock valued at $9,911,733. Corporate insiders own 0.92% of the company’s stock.

Magnolia Oil & Gas Stock Performance

NYSE:MGY opened at $27.52 on Friday. The company has a fifty day simple moving average of $29.32 and a two-hundred day simple moving average of $26.47. The company has a market cap of $5.09 billion, a price-to-earnings ratio of 16.00 and a beta of 0.71. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.19. Magnolia Oil & Gas Corp has a 52 week low of $21.07 and a 52 week high of $32.76.

Magnolia Oil & Gas (NYSE:MGY) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $0.54 EPS for the quarter, topping the consensus estimate 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 company’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.54 earnings per share. As a group, equities analysts anticipate that Magnolia Oil & Gas Corp will post 2.82 earnings per share for the current fiscal year.

Magnolia Oil & Gas Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Tuesday, May 12th were paid a $0.165 dividend. The ex-dividend date was Tuesday, May 12th. This represents a $0.66 annualized dividend and a dividend yield of 2.4%. Magnolia Oil & Gas’s payout ratio is 38.37%.

About Magnolia Oil & Gas

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).