Silvercrest Asset Management Group LLC Cuts Stake in Magnolia Oil & Gas Co. (NYSE:MGY)

Silvercrest Asset Management Group LLC lessened its holdings in shares of Magnolia Oil & Gas Co. (NYSE:MGY) by 5.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,823,217 shares of the company’s stock after selling 227,685 shares during the period. Silvercrest Asset Management Group LLC owned approximately 1.95% of Magnolia Oil & Gas worth $89,387,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. ProShare Advisors LLC raised its holdings in shares of Magnolia Oil & Gas by 44.3% in the fourth quarter. ProShare Advisors LLC now owns 52,547 shares of the company’s stock worth $1,229,000 after buying an additional 16,120 shares during the last quarter. Man Group plc grew its stake in Magnolia Oil & Gas by 9.2% during the 4th quarter. Man Group plc now owns 321,509 shares of the company’s stock valued at $7,517,000 after purchasing an additional 27,039 shares during the last quarter. Nicholas Investment Partners LP increased its holdings in shares of Magnolia Oil & Gas by 61.4% in the fourth quarter. Nicholas Investment Partners LP now owns 140,833 shares of the company’s stock valued at $3,293,000 after purchasing an additional 53,586 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Magnolia Oil & Gas by 4.0% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 98,597 shares of the company’s stock worth $2,305,000 after purchasing an additional 3,776 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its holdings in shares of Magnolia Oil & Gas by 11.7% during the fourth quarter. Janus Henderson Group PLC now owns 6,396,875 shares of the company’s stock worth $149,559,000 after purchasing an additional 667,973 shares during the period. Institutional investors and hedge funds own 94.73% of the company’s stock.

Magnolia Oil & Gas Trading Down 1.7%

Shares of MGY stock opened at $22.80 on Friday. Magnolia Oil & Gas Co. has a twelve month low of $19.09 and a twelve month high of $29.02. The stock has a market cap of $4.43 billion, a price-to-earnings ratio of 11.81, a PEG ratio of 3.01 and a beta of 1.25. The company’s 50-day moving average price is $22.38 and its 200-day moving average price is $24.11. 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 (NYSE:MGY) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.02. Magnolia Oil & Gas had a net margin of 27.82% and a return on equity of 20.74%. The business had revenue of $350.30 million during the quarter, compared to the consensus estimate of $337.83 million. During the same quarter last year, the firm earned $0.46 EPS. The business’s revenue was up 9.7% compared to the same quarter last year. As a group, equities analysts predict that Magnolia Oil & Gas Co. will post 2.1 earnings per share for the current year.

Magnolia Oil & Gas Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Monday, May 12th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.63%. The ex-dividend date of this dividend is Monday, May 12th. Magnolia Oil & Gas’s dividend payout ratio is presently 29.85%.

Analyst Ratings Changes

MGY has been the subject of several recent research reports. JPMorgan Chase & Co. reduced their target price on shares of Magnolia Oil & Gas from $28.00 to $24.00 and set a “neutral” rating for the company in a report on Thursday, March 13th. Susquehanna decreased their price objective on Magnolia Oil & Gas from $31.00 to $30.00 and set a “positive” rating for the company in a report on Tuesday, April 22nd. Piper Sandler dropped their target price on Magnolia Oil & Gas from $25.00 to $24.00 and set a “neutral” rating on the stock in a report on Tuesday. Johnson Rice downgraded Magnolia Oil & Gas from a “moderate buy” rating to a “hold” rating in a report on Tuesday, January 28th. Finally, UBS Group assumed coverage on shares of Magnolia Oil & Gas in a research note on Tuesday, April 22nd. They set a “buy” rating and a $26.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $27.14.

Insider Buying and Selling

In other news, CEO Christopher G. Stavros purchased 2,500 shares of the stock in a transaction dated Monday, March 3rd. The stock was acquired at an average cost of $22.05 per share, for a total transaction of $55,125.00. Following the completion of the transaction, the chief executive officer now directly 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 legal filing with the SEC, which is available at this link. Corporate insiders own 1.20% of the company’s stock.

Magnolia Oil & Gas Company 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.