Magnolia Oil & Gas Co. (NYSE:MGY) Shares Sold by Castleark Management LLC

Castleark Management LLC lowered its position in Magnolia Oil & Gas Co. (NYSE:MGY - Free Report) by 53.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. 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 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in MGY. Vanguard Group Inc. increased its stake 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 purchasing an additional 452,836 shares during the period. First Trust Advisors LP grew its holdings in shares of Magnolia Oil & Gas by 24.6% in the fourth quarter. First Trust Advisors LP now owns 15,410,496 shares of the company's stock worth $360,297,000 after purchasing an additional 3,038,709 shares during the last quarter. Janus Henderson Group PLC increased its stake in Magnolia Oil & Gas by 11.7% in the 4th quarter. Janus Henderson Group PLC now owns 6,396,875 shares of the company's stock worth $149,559,000 after buying an additional 667,973 shares during the period. Wellington Management Group LLP lifted its holdings in Magnolia Oil & Gas by 0.5% during the 4th quarter. Wellington Management Group LLP now owns 5,020,646 shares of the company's stock valued at $117,383,000 after buying an additional 26,943 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Magnolia Oil & Gas by 1.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,768,047 shares of the company's stock valued at $111,475,000 after buying an additional 86,166 shares during the period. Institutional investors own 94.73% of the company's stock.

Insiders Place Their Bets

In other Magnolia Oil & Gas news, CEO Christopher G. Stavros acquired 2,500 shares of the stock in a transaction dated 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 transaction, the chief executive officer now directly 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 acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.20% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. JPMorgan Chase & Co. reduced their target price on shares of 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. Susquehanna reduced their price objective on Magnolia Oil & Gas from $31.00 to $30.00 and set a "positive" rating on the stock in a report on Tuesday, April 22nd. The Goldman Sachs Group lowered Magnolia Oil & Gas from a "buy" rating to a "neutral" rating and decreased their target price for the company from $27.00 to $26.00 in a research report on Friday, January 31st. Bank of America upped their target price on Magnolia Oil & Gas from $23.00 to $25.00 and gave the stock a "neutral" rating in a report on Friday. Finally, Piper Sandler cut 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 investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Magnolia Oil & Gas currently has a consensus rating of "Hold" and an average target price of $26.93.

Magnolia Oil & Gas Stock Up 1.4%

MGY stock traded up $0.30 during trading on Tuesday, reaching $21.97. 272,102 shares of the company traded hands, compared to its average volume of 2,276,966. The business has a 50 day simple moving average of $22.18 and a 200 day simple moving average of $23.89. Magnolia Oil & Gas Co. has a 12 month low of $19.09 and a 12 month high of $29.02. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.47 and a current ratio of 1.42. The company has a market capitalization of $4.23 billion, a price-to-earnings ratio of 11.39, a price-to-earnings-growth ratio of 3.01 and a beta of 1.25.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The company reported $0.55 earnings per share for the quarter, beating analysts' consensus estimates 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 revenue was up 9.7% compared to the same quarter last year. During the same period last year, the business earned $0.46 EPS. On average, equities research analysts anticipate that Magnolia Oil & Gas Co. will post 2.1 earnings per share for the current fiscal year.

Magnolia Oil & Gas Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Monday, May 12th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 2.73%. The ex-dividend date is Monday, May 12th. Magnolia Oil & Gas's dividend payout ratio is currently 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.