US Bancorp DE Sells 16,302 Shares of Magnolia Oil & Gas Co. (NYSE:MGY)

US Bancorp DE lessened its stake in shares of Magnolia Oil & Gas Co. (NYSE:MGY) by 55.4% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,120 shares of the company’s stock after selling 16,302 shares during the period. US Bancorp DE’s holdings in Magnolia Oil & Gas were worth $307,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in MGY. Atria Investments Inc boosted its holdings in shares of Magnolia Oil & Gas by 2.3% during the 3rd quarter. Atria Investments Inc now owns 23,576 shares of the company’s stock valued at $576,000 after purchasing an additional 523 shares during the last quarter. Covestor Ltd boosted its holdings in shares of Magnolia Oil & Gas by 36.8% during the 3rd quarter. Covestor Ltd now owns 2,986 shares of the company’s stock valued at $73,000 after purchasing an additional 804 shares during the last quarter. State of New Jersey Common Pension Fund D raised its position in shares of Magnolia Oil & Gas by 4.4% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 77,092 shares of the company’s stock valued at $1,883,000 after buying an additional 3,230 shares in the last quarter. OneDigital Investment Advisors LLC raised its position in shares of Magnolia Oil & Gas by 6.5% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 15,304 shares of the company’s stock valued at $374,000 after buying an additional 933 shares in the last quarter. Finally, Valley Wealth Managers Inc. raised its position in shares of Magnolia Oil & Gas by 1.9% during the 3rd quarter. Valley Wealth Managers Inc. now owns 673,064 shares of the company’s stock valued at $16,436,000 after buying an additional 12,676 shares in the last quarter. Institutional investors own 94.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on MGY shares. Piper Sandler upped their target price on shares of Magnolia Oil & Gas from $24.00 to $26.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Truist Financial upped their target price on shares of Magnolia Oil & Gas from $33.00 to $34.00 and gave the company a “buy” rating in a research report on Monday, January 13th. JPMorgan Chase & Co. decreased their target price on shares of Magnolia Oil & Gas from $28.00 to $24.00 and set a “neutral” rating on the stock in a research report on Thursday. Williams Trading set a $29.00 target price on shares of Magnolia Oil & Gas in a research report on Wednesday, March 5th. Finally, Mizuho upped their target price on shares of Magnolia Oil & Gas from $27.00 to $28.00 and gave the company a “neutral” rating in a research report on Monday, December 16th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $27.77.

Magnolia Oil & Gas Stock Down 2.5 %

Shares of NYSE MGY opened at $22.51 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.42 and a quick ratio of 1.47. The company has a market cap of $4.37 billion, a P/E ratio of 11.66, a PEG ratio of 3.01 and a beta of 1.90. Magnolia Oil & Gas Co. has a 1 year low of $21.63 and a 1 year high of $29.02. The firm has a 50-day simple moving average of $24.13 and a two-hundred day simple moving average of $25.06.

Magnolia Oil & Gas (NYSE:MGY) last issued its earnings results on Tuesday, February 18th. The company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.03. The business had revenue of $326.61 million for the quarter, compared to analyst estimates of $327.40 million. Magnolia Oil & Gas had a net margin of 27.82% and a return on equity of 20.74%. Research analysts anticipate that Magnolia Oil & Gas Co. will post 2.1 earnings per share 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 given a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, February 14th. 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 2.67%. Magnolia Oil & Gas’s dividend payout ratio (DPR) is 31.09%.

Insider Transactions at Magnolia Oil & Gas

In other Magnolia Oil & Gas news, CEO Christopher G. Stavros acquired 2,500 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were bought at an average cost of $22.05 per share, with a total value of $55,125.00. Following the completion of the acquisition, the chief executive officer now directly owns 892,372 shares in the company, valued at $19,676,802.60. This represents a 0.28 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.20% of the company’s stock.

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.