American International Group Inc. Sells 2,323 Shares of Magnolia Oil & Gas Co. (NYSE:MGY)

American International Group Inc. reduced its position in Magnolia Oil & Gas Co. (NYSE:MGY) by 2.5% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 89,249 shares of the company’s stock after selling 2,323 shares during the period. American International Group Inc.’s holdings in Magnolia Oil & Gas were worth $1,900,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Brown Advisory Inc. acquired a new stake in Magnolia Oil & Gas in the fourth quarter worth about $694,000. Allspring Global Investments Holdings LLC raised its position in shares of Magnolia Oil & Gas by 9.9% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 3,041,390 shares of the company’s stock valued at $64,751,000 after acquiring an additional 274,908 shares during the last quarter. Corient Private Wealth LLC boosted its position in shares of Magnolia Oil & Gas by 86.5% in the 4th quarter. Corient Private Wealth LLC now owns 338,540 shares of the company’s stock worth $7,208,000 after purchasing an additional 156,977 shares during the last quarter. Vest Financial LLC grew its stake in shares of Magnolia Oil & Gas by 51.4% during the fourth quarter. Vest Financial LLC now owns 606,277 shares of the company’s stock worth $12,908,000 after purchasing an additional 205,924 shares during the period. Finally, Wasatch Advisors LP grew its stake in shares of Magnolia Oil & Gas by 2.2% during the fourth quarter. Wasatch Advisors LP now owns 3,679,262 shares of the company’s stock worth $78,331,000 after purchasing an additional 77,733 shares during the period. Institutional investors own 94.73% of the company’s stock.

Analysts Set New Price Targets

MGY has been the topic of several analyst reports. Mizuho increased their target price on Magnolia Oil & Gas from $26.00 to $28.00 and gave the company a “neutral” rating in a research note on Monday, May 13th. Benchmark reaffirmed a “hold” rating on shares of Magnolia Oil & Gas in a research note on Tuesday, April 23rd. Capital One Financial began coverage on shares of Magnolia Oil & Gas in a research report on Tuesday, June 11th. They set an “overweight” rating and a $28.00 price target on the stock. Citigroup upped their price objective on shares of Magnolia Oil & Gas from $18.00 to $22.00 and gave the company a “sell” rating in a research report on Monday, April 15th. Finally, Wells Fargo & Company lifted their target price on Magnolia Oil & Gas from $23.00 to $27.00 and gave the stock an “equal weight” rating in a report on Thursday, April 18th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $28.11.

Insider Buying and Selling

In other Magnolia Oil & Gas news, Director John B. Walker sold 12,000,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $25.58, for a total value of $306,960,000.00. Following the completion of the transaction, the director now directly owns 4,164,961 shares in the company, valued at $106,539,702.38. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.40% of the stock is currently owned by corporate insiders.

Magnolia Oil & Gas Trading Down 0.7 %

NYSE:MGY opened at $25.34 on Wednesday. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 0.21. Magnolia Oil & Gas Co. has a twelve month low of $19.16 and a twelve month high of $27.33. The company has a market cap of $5.14 billion, a P/E ratio of 12.61, a price-to-earnings-growth ratio of 1.39 and a beta of 2.00. The business has a 50 day moving average price of $25.25 and a two-hundred day moving average price of $23.46.

Magnolia Oil & Gas (NYSE:MGY) last announced its earnings results on Tuesday, May 7th. The company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.44 by $0.05. Magnolia Oil & Gas had a net margin of 30.46% and a return on equity of 20.41%. The business had revenue of $319.42 million during the quarter, compared to analysts’ expectations of $308.21 million. As a group, analysts expect that Magnolia Oil & Gas Co. will post 2.25 EPS for the current fiscal year.

Magnolia Oil & Gas Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Monday, May 13th were given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date of this dividend was Friday, May 10th. Magnolia Oil & Gas’s dividend payout ratio is currently 25.87%.

About Magnolia Oil & Gas

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.