Magnolia Oil & Gas Co. (NYSE:MGY) Shares Sold by Balyasny Asset Management L.P.

Balyasny Asset Management L.P. decreased its holdings in shares of Magnolia Oil & Gas Co. (NYSE:MGY - Free Report) by 47.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,860 shares of the company's stock after selling 11,606 shares during the quarter. Balyasny Asset Management L.P.'s holdings in Magnolia Oil & Gas were worth $301,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Mather Group LLC. grew its position in Magnolia Oil & Gas by 100.0% during the 4th quarter. Mather Group LLC. now owns 1,090 shares of the company's stock worth $25,000 after purchasing an additional 545 shares during the last quarter. Larson Financial Group LLC raised its stake in shares of Magnolia Oil & Gas by 112.3% during the fourth 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 last quarter. R Squared Ltd acquired a new stake in shares of Magnolia Oil & Gas during the fourth quarter worth $43,000. Quarry LP grew its position in Magnolia Oil & Gas by 1,047.8% in the 4th quarter. Quarry LP now owns 2,135 shares of the company's stock valued at $50,000 after buying an additional 1,949 shares during the last quarter. Finally, Avior Wealth Management LLC increased its stake in Magnolia Oil & Gas by 30.0% in the 4th 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. Hedge funds and other institutional investors own 94.73% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. The Goldman Sachs Group cut shares of Magnolia Oil & Gas from a "buy" rating to a "neutral" rating and cut their price target for the stock from $27.00 to $26.00 in a report on Friday, January 31st. UBS Group began coverage on Magnolia Oil & Gas in a research note on Tuesday, April 22nd. They issued a "buy" rating and a $26.00 price target on the stock. Williams Trading set a $29.00 price target on shares of Magnolia Oil & Gas in a research note on Wednesday, March 5th. Citigroup decreased their price objective on shares of Magnolia Oil & Gas from $22.00 to $19.00 and set a "sell" rating on the stock in a report on Tuesday, April 8th. Finally, Piper Sandler decreased their price target on Magnolia Oil & Gas from $25.00 to $24.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 13th. Two 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 stock. According to MarketBeat, Magnolia Oil & Gas currently has an average rating of "Hold" and a consensus target price of $27.14.

Magnolia Oil & Gas Stock Down 2.1%

Shares of NYSE MGY traded down $0.48 during trading on Wednesday, reaching $21.87. 2,008,570 shares of the stock were exchanged, compared to its average volume of 2,288,293. 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 business's 50-day moving average price is $22.36 and its 200 day moving average price is $24.04. The company has a quick ratio of 1.47, a current ratio of 1.42 and a debt-to-equity ratio of 0.20. Magnolia Oil & Gas Co. has a twelve month low of $19.09 and a twelve month high of $29.02.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last released 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. 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 in the previous year, the firm posted $0.46 earnings per share. The company's revenue was up 9.7% compared to the same quarter last year. As a group, equities 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. Shareholders of record on Monday, May 12th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 2.74%. The ex-dividend date is Monday, May 12th. Magnolia Oil & Gas's dividend payout ratio is currently 29.85%.

Insider Activity

In related news, CEO Christopher G. Stavros bought 2,500 shares of the stock in a transaction dated Monday, March 3rd. The stock was bought at an average cost of $22.05 per share, with a total value of $55,125.00. Following the completion of the acquisition, the chief executive officer now owns 892,372 shares of the company's stock, valued at $19,676,802.60. This trade represents a 0.28% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.20% of the company's stock.

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.