Loomis Sayles & Co. L P Sells 81,158 Shares of Magnolia Oil & Gas Co. (NYSE:MGY)

Loomis Sayles & Co. L P decreased its holdings in Magnolia Oil & Gas Co. (NYSE:MGY) by 2.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,701,392 shares of the company’s stock after selling 81,158 shares during the period. Loomis Sayles & Co. L P owned 1.37% of Magnolia Oil & Gas worth $63,159,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. PNC Financial Services Group Inc. boosted its stake in Magnolia Oil & Gas by 1.0% in the 3rd quarter. PNC Financial Services Group Inc. now owns 52,834 shares of the company’s stock worth $1,290,000 after purchasing an additional 548 shares during the period. Advisors Asset Management Inc. lifted its holdings in shares of Magnolia Oil & Gas by 196.6% in the third quarter. Advisors Asset Management Inc. now owns 6,096 shares of the company’s stock worth $149,000 after buying an additional 4,041 shares in the last quarter. Intech Investment Management LLC bought a new position in shares of Magnolia Oil & Gas during the third quarter worth $1,252,000. Charles Schwab Investment Management Inc. grew its stake in Magnolia Oil & Gas by 3.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,991,017 shares of the company’s stock valued at $48,621,000 after acquiring an additional 75,305 shares in the last quarter. Finally, Citigroup Inc. increased its holdings in Magnolia Oil & Gas by 30.6% in the 3rd quarter. Citigroup Inc. now owns 313,778 shares of the company’s stock valued at $7,662,000 after acquiring an additional 73,431 shares during the last quarter. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Insider Transactions at Magnolia Oil & Gas

In related news, CEO Christopher G. Stavros purchased 2,500 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was purchased 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 owns 892,372 shares of the company’s stock, valued at approximately $19,676,802.60. The trade was a 0.28 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 1.20% of the company’s stock.

Magnolia Oil & Gas Trading Up 1.1 %

Shares of MGY opened at $25.63 on Thursday. The company’s fifty day simple moving average is $24.13 and its 200-day simple moving average is $25.05. The company has a market cap of $4.98 billion, a P/E ratio of 13.28, a P/E/G ratio of 3.01 and a beta of 1.90. 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 Co. has a twelve month low of $21.63 and a twelve month high of $29.02.

Magnolia Oil & Gas (NYSE:MGY) last issued its quarterly earnings results on Tuesday, February 18th. The company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.03. The firm 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 year.

Magnolia Oil & Gas Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were paid a dividend of $0.15 per share. This is a positive change from Magnolia Oil & Gas’s previous quarterly dividend of $0.13. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.34%. The ex-dividend date was Friday, February 14th. Magnolia Oil & Gas’s payout ratio is currently 31.09%.

Analysts Set New Price Targets

Several research firms have commented on MGY. Piper Sandler increased their price objective on shares of 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 lowered Magnolia Oil & Gas from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, January 28th. The Goldman Sachs Group downgraded Magnolia Oil & Gas from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $27.00 to $26.00 in a research note on Friday, January 31st. Williams Trading set a $29.00 target price on Magnolia Oil & Gas in a research report on Wednesday, March 5th. Finally, Truist Financial boosted their price target on shares of Magnolia Oil & Gas from $33.00 to $34.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $27.77.

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.