Loomis Sayles & Co. L P Sells 81,158 Shares of Magnolia Oil & Gas Co. (NYSE:MGY)

Loomis Sayles & Co. L P decreased its holdings in Magnolia Oil & Gas Co. (NYSE:MGY) by 2.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,701,392 shares of the company’s stock after selling 81,158 shares during the period. Loomis Sayles & Co. L P’s holdings in Magnolia Oil & Gas were worth $63,159,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. JPMorgan Chase & Co. grew its position in shares of Magnolia Oil & Gas by 20.4% in the 4th quarter. JPMorgan Chase & Co. now owns 863,915 shares of the company’s stock worth $20,198,000 after buying an additional 146,421 shares during the last quarter. Elo Mutual Pension Insurance Co acquired a new position in Magnolia Oil & Gas during the 4th quarter valued at about $457,000. Mitsubishi UFJ Trust & Banking Corp raised its stake in Magnolia Oil & Gas by 11.1% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 35,725 shares of the company’s stock valued at $835,000 after buying an additional 3,582 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Magnolia Oil & Gas by 2.2% in the fourth quarter. Vanguard Group Inc. now owns 20,938,200 shares of the company’s stock worth $489,535,000 after acquiring an additional 452,836 shares in the last quarter. Finally, LPL Financial LLC boosted its holdings in Magnolia Oil & Gas by 55.8% in the fourth quarter. LPL Financial LLC now owns 32,102 shares of the company’s stock worth $751,000 after acquiring an additional 11,493 shares in the last quarter. 94.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Christopher G. Stavros purchased 2,500 shares of Magnolia Oil & Gas stock in a transaction that occurred 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 transaction, 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 filing with the SEC, which is available through the SEC website. 1.20% of the stock is currently owned by insiders.

Magnolia Oil & Gas Trading Up 1.1 %

Shares of NYSE:MGY opened at $25.63 on Thursday. The company has a market capitalization of $4.98 billion, a PE ratio of 13.28, a PEG ratio of 3.01 and a beta of 1.90. Magnolia Oil & Gas Co. has a 12-month low of $21.63 and a 12-month high of $29.02. The business has a 50 day moving average of $24.13 and a two-hundred day moving average of $25.05. 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 Tuesday, February 18th. The company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.03. Magnolia Oil & Gas had a net margin of 27.82% and a return on equity of 20.74%. The firm had revenue of $326.61 million for the quarter, compared to the consensus estimate of $327.40 million. As a group, analysts forecast that Magnolia Oil & Gas Co. will post 2.1 EPS for the current year.

Magnolia Oil & Gas Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 2.34%. 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. Magnolia Oil & Gas’s payout ratio is currently 31.09%.

Analysts Set New Price Targets

MGY has been the subject of several research analyst reports. JPMorgan Chase & Co. decreased their price objective on shares of Magnolia Oil & Gas from $28.00 to $24.00 and set a “neutral” rating for the company in a research report on Thursday, March 13th. Truist Financial lifted their price objective on shares of Magnolia Oil & Gas from $33.00 to $34.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Williams Trading set a $29.00 target price on Magnolia Oil & Gas in a research report on Wednesday, March 5th. The Goldman Sachs Group cut Magnolia Oil & Gas from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $27.00 to $26.00 in a research report on Friday, January 31st. Finally, Mizuho increased their price objective on Magnolia Oil & Gas from $27.00 to $28.00 and gave the company a “neutral” rating in a report on Monday, December 16th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $27.77.

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.