Castleark Management LLC Cuts Position in Magnolia Oil & Gas Co. (NYSE:MGY)

Castleark Management LLC lowered its position in shares of Magnolia Oil & Gas Co. (NYSE:MGY) by 53.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 83,830 shares of the company’s stock after selling 96,900 shares during the quarter. Castleark Management LLC’s holdings in Magnolia Oil & Gas were worth $1,960,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Mariner LLC grew its stake in Magnolia Oil & Gas by 1.8% during the fourth quarter. Mariner LLC now owns 43,229 shares of the company’s stock worth $1,011,000 after buying an additional 762 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Magnolia Oil & Gas by 4.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,076,541 shares of the company’s stock valued at $48,550,000 after acquiring an additional 85,524 shares in the last quarter. Northern Trust Corp boosted its position in Magnolia Oil & Gas by 7.3% during the 4th quarter. Northern Trust Corp now owns 1,936,398 shares of the company’s stock worth $45,273,000 after purchasing an additional 131,941 shares during the period. Ashton Thomas Private Wealth LLC purchased a new stake in Magnolia Oil & Gas during the 4th quarter worth $590,000. Finally, Proficio Capital Partners LLC acquired a new stake in Magnolia Oil & Gas in the 4th quarter valued at $292,000. Institutional investors and hedge funds own 94.73% of the company’s stock.

Wall Street Analysts Forecast Growth

MGY has been the topic of a number of recent research reports. Williams Trading set a $29.00 price objective on Magnolia Oil & Gas in a research note on Wednesday, March 5th. Citigroup reduced their price target on 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. UBS Group initiated coverage on shares of Magnolia Oil & Gas in a research report on Tuesday, April 22nd. They issued a “buy” rating and a $26.00 price objective for the company. Johnson Rice lowered shares of Magnolia Oil & Gas from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, January 28th. Finally, The Goldman Sachs Group lowered shares of Magnolia Oil & Gas from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $27.00 to $26.00 in a research note on Friday, January 31st. Two equities research 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. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $27.14.

Insider Activity

In other Magnolia Oil & Gas news, CEO Christopher G. Stavros bought 2,500 shares of the 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 completion of the purchase, the chief executive officer now directly owns 892,372 shares in the company, valued at approximately $19,676,802.60. This trade represents a 0.28% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.20% of the company’s stock.

Magnolia Oil & Gas Trading Down 2.1%

NYSE MGY opened at $21.87 on Thursday. The company has a market capitalization of $4.21 billion, a price-to-earnings ratio of 11.33, a price-to-earnings-growth ratio of 3.01 and a beta of 1.25. 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 12 month low of $19.09 and a 12 month high of $29.02. The company’s fifty day moving average price is $22.33 and its two-hundred day moving average price is $24.02.

Magnolia Oil & Gas (NYSE:MGY) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.53 by $0.02. The business had revenue of $350.30 million for the quarter, compared to analysts’ expectations of $337.83 million. Magnolia Oil & Gas had a net margin of 27.82% and a return on equity of 20.74%. The company’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.46 earnings per share. 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 Announces Dividend

The company 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 $0.15 dividend. The ex-dividend date of this dividend is Monday, May 12th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.74%. Magnolia Oil & Gas’s dividend payout ratio (DPR) is 29.85%.

About Magnolia Oil & Gas

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.