Two Sigma Investments LP Decreases Position in Magnolia Oil & Gas Co. (NYSE:MGY)

Two Sigma Investments LP decreased its stake in Magnolia Oil & Gas Co. (NYSE:MGY) by 60.3% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 428,489 shares of the company’s stock after selling 649,638 shares during the quarter. Two Sigma Investments LP owned about 0.22% of Magnolia Oil & Gas worth $10,018,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of MGY. Vanguard Group Inc. grew its holdings in Magnolia Oil & Gas by 2.2% during the 4th quarter. Vanguard Group Inc. now owns 20,938,200 shares of the company’s stock valued at $489,535,000 after purchasing an additional 452,836 shares during the last quarter. First Trust Advisors LP boosted its position in shares of Magnolia Oil & Gas by 24.6% during the fourth quarter. First Trust Advisors LP now owns 15,410,496 shares of the company’s stock valued at $360,297,000 after buying an additional 3,038,709 shares during the period. Janus Henderson Group PLC grew its stake 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 valued at $149,559,000 after buying an additional 667,973 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of Magnolia Oil & Gas by 0.5% in the fourth quarter. Wellington Management Group LLP now owns 5,020,646 shares of the company’s stock worth $117,383,000 after buying an additional 26,943 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Magnolia Oil & Gas by 1.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,768,047 shares of the company’s stock worth $111,475,000 after acquiring an additional 86,166 shares during the last quarter. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on MGY. Piper Sandler cut their price objective on Magnolia Oil & Gas from $25.00 to $24.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 13th. Williams Trading set a $29.00 target price on shares of Magnolia Oil & Gas in a research note on Wednesday, March 5th. Susquehanna cut their price target on shares of Magnolia Oil & Gas from $31.00 to $30.00 and set a “positive” rating on the stock in a report on Tuesday, April 22nd. Johnson Rice downgraded shares of Magnolia Oil & Gas from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, January 28th. Finally, UBS Group initiated coverage on shares of Magnolia Oil & Gas in a research note on Tuesday, April 22nd. They issued a “buy” rating and a $26.00 target price on the stock. Two analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Magnolia Oil & Gas presently has a consensus rating of “Hold” and a consensus price target of $26.93.

Magnolia Oil & Gas Price Performance

NYSE MGY opened at $21.67 on Friday. The company has a market cap of $4.17 billion, a PE ratio of 11.23, a P/E/G ratio of 3.01 and a beta of 1.25. The firm’s 50 day moving average price is $22.24 and its 200-day moving average price is $23.95. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.47 and a current ratio of 1.42. Magnolia Oil & Gas Co. has a 52-week low of $19.09 and a 52-week high of $29.02.

Magnolia Oil & Gas (NYSE:MGY) last announced its earnings results on Wednesday, April 30th. The company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.02. Magnolia Oil & Gas had a return on equity of 20.74% and a net margin of 27.82%. The business had revenue of $350.30 million for the quarter, compared to analysts’ expectations of $337.83 million. During the same quarter last year, the firm earned $0.46 EPS. The business’s revenue for the quarter was up 9.7% on a year-over-year basis. Sell-side analysts forecast that Magnolia Oil & Gas Co. will post 2.1 EPS for the current fiscal year.

Magnolia Oil & Gas Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Monday, May 12th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 2.77%. The ex-dividend date of this dividend is Monday, May 12th. Magnolia Oil & Gas’s payout ratio is currently 29.85%.

Insider Activity at Magnolia Oil & Gas

In other news, CEO Christopher G. Stavros bought 2,500 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The stock was bought at an average price of $22.05 per share, with a total value of $55,125.00. Following the completion of the transaction, the chief executive officer now directly owns 892,372 shares of the company’s stock, valued at approximately $19,676,802.60. The trade was a 0.28% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.20% of the stock is owned by corporate insiders.

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.