Ameriprise Financial Inc. Sells 579,468 Shares of Magnolia Oil & Gas Co. (NYSE:MGY)

Ameriprise Financial Inc. decreased its position in shares of Magnolia Oil & Gas Co. (NYSE:MGY - Free Report) by 56.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 447,975 shares of the company's stock after selling 579,468 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.23% of Magnolia Oil & Gas worth $10,474,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Mather Group LLC. lifted its stake in Magnolia Oil & Gas by 100.0% in the fourth quarter. Mather Group LLC. now owns 1,090 shares of the company's stock worth $25,000 after acquiring an additional 545 shares during the period. Larson Financial Group LLC lifted its position in shares of Magnolia Oil & Gas by 112.3% in the 4th quarter. Larson Financial Group LLC now owns 1,072 shares of the company's stock worth $25,000 after purchasing an additional 567 shares during the period. R Squared Ltd purchased a new stake in shares of Magnolia Oil & Gas in the 4th quarter worth approximately $43,000. Quarry LP boosted its stake in shares of 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 purchasing an additional 1,949 shares in the last quarter. Finally, Avior Wealth Management LLC increased its holdings 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 buying an additional 506 shares during the period. Institutional investors own 94.73% of the company's stock.

Insider Buying and Selling

In other Magnolia Oil & Gas news, CEO Christopher G. Stavros bought 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, with a total value of $55,125.00. Following the completion of the acquisition, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.20% of the company's stock.

Magnolia Oil & Gas Trading Down 1.2%

Shares of Magnolia Oil & Gas stock opened at $22.36 on Tuesday. The firm's 50 day simple moving average is $22.36 and its two-hundred day simple moving average is $24.05. The firm has a market capitalization of $4.30 billion, a price-to-earnings ratio of 11.59, a PEG ratio of 3.01 and a beta of 1.25. Magnolia Oil & Gas Co. has a 12-month low of $19.09 and a 12-month high of $29.02. 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 - Get Free Report) last released 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 firm had revenue of $350.30 million for the quarter, compared to the consensus estimate of $337.83 million. During the same period in the prior year, the firm earned $0.46 EPS. The firm's revenue was up 9.7% on a year-over-year basis. Analysts predict that Magnolia Oil & Gas Co. will post 2.1 EPS for the current year.

Magnolia Oil & Gas Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Monday, May 12th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 2.68%. The ex-dividend date is Monday, May 12th. Magnolia Oil & Gas's payout ratio is 29.85%.

Analysts Set New Price Targets

MGY has been the subject of a number of analyst reports. Williams Trading set a $29.00 target price on Magnolia Oil & Gas in a report on Wednesday, March 5th. Susquehanna reduced their price target on Magnolia Oil & Gas from $31.00 to $30.00 and set a "positive" rating for the company in a research report on Tuesday, April 22nd. JPMorgan Chase & Co. dropped their price objective on Magnolia Oil & Gas from $28.00 to $24.00 and set a "neutral" rating on the stock in a research report on Thursday, March 13th. The Goldman Sachs Group lowered Magnolia Oil & Gas from a "buy" rating to a "neutral" rating and cut their target price for the company from $27.00 to $26.00 in a research note on Friday, January 31st. Finally, Citigroup decreased their price target on shares of Magnolia Oil & Gas from $22.00 to $19.00 and set a "sell" rating for the company in a research report on Tuesday, April 8th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $27.14.

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.

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