Jacobs Levy Equity Management Inc. Sells 90,263 Shares of Magnolia Oil & Gas Co. (NYSE:MGY)

Jacobs Levy Equity Management Inc. lowered its position in shares of Magnolia Oil & Gas Co. (NYSE:MGY) by 23.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 295,679 shares of the company’s stock after selling 90,263 shares during the quarter. Jacobs Levy Equity Management Inc.’s holdings in Magnolia Oil & Gas were worth $6,913,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of MGY. Mather Group LLC. boosted its position in Magnolia Oil & Gas by 100.0% during the fourth quarter. Mather Group LLC. now owns 1,090 shares of the company’s stock valued at $25,000 after acquiring an additional 545 shares during the last quarter. Larson Financial Group LLC boosted its position in Magnolia Oil & Gas by 112.3% during the fourth quarter. Larson Financial Group LLC now owns 1,072 shares of the company’s stock valued at $25,000 after acquiring an additional 567 shares during the last quarter. R Squared Ltd bought a new stake in Magnolia Oil & Gas during the fourth quarter valued at $43,000. Quarry LP boosted its position in Magnolia Oil & Gas by 1,047.8% during the fourth quarter. Quarry LP now owns 2,135 shares of the company’s stock valued at $50,000 after acquiring an additional 1,949 shares during the last quarter. Finally, Avior Wealth Management LLC boosted its position in Magnolia Oil & Gas by 30.0% during the fourth quarter. Avior Wealth Management LLC now owns 2,194 shares of the company’s stock valued at $51,000 after acquiring an additional 506 shares during the last quarter. Institutional investors own 94.73% of the company’s stock.

Magnolia Oil & Gas Trading Up 1.3%

MGY opened at $23.31 on Wednesday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.42 and a quick ratio of 1.47. Magnolia Oil & Gas Co. has a fifty-two week low of $19.09 and a fifty-two week high of $29.02. The firm has a market capitalization of $4.53 billion, a PE ratio of 12.08, a P/E/G ratio of 3.01 and a beta of 1.25. The company’s 50-day moving average is $22.39 and its 200 day moving average is $24.14.

Magnolia Oil & Gas (NYSE:MGY) last posted its earnings results on Wednesday, April 30th. The company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.02. The company had revenue of $350.30 million for the quarter, compared to analyst estimates of $337.83 million. Magnolia Oil & Gas had a net margin of 27.82% and a return on equity of 20.74%. The firm’s revenue was up 9.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.46 EPS. As a group, research analysts predict that Magnolia Oil & Gas Co. will post 2.1 earnings per share for the current fiscal year.

Magnolia Oil & Gas Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Monday, May 12th will be paid a $0.15 dividend. The ex-dividend date is Monday, May 12th. This represents a $0.60 annualized dividend and a yield of 2.57%. Magnolia Oil & Gas’s dividend payout ratio (DPR) is 29.85%.

Wall Street Analyst Weigh In

MGY has been the topic of a number of research analyst reports. The Goldman Sachs Group cut shares of Magnolia Oil & Gas from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $27.00 to $26.00 in a research report on Friday, January 31st. Piper Sandler cut their price objective on shares of Magnolia Oil & Gas from $25.00 to $24.00 and set a “neutral” rating on the stock in a research report on Tuesday. UBS Group initiated coverage on shares of Magnolia Oil & Gas in a research report on Tuesday, April 22nd. They set a “buy” rating and a $26.00 price objective on the stock. Citigroup cut their price objective on shares of Magnolia Oil & Gas from $22.00 to $19.00 and set a “sell” rating on the stock in a research report on Tuesday, April 8th. Finally, Johnson Rice cut shares of Magnolia Oil & Gas from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, January 28th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $27.14.

Insider Buying and Selling at Magnolia Oil & Gas

In other news, CEO Christopher G. Stavros acquired 2,500 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was purchased at an average price of $22.05 per share, for a total transaction of $55,125.00. Following the purchase, the chief executive officer now owns 892,372 shares in the company, valued at approximately $19,676,802.60. This represents a 0.28% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company 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.