Millennium Management LLC Sells 34,030 Shares of Magnolia Oil & Gas Co. (NYSE:MGY)

Millennium Management LLC cut its holdings in Magnolia Oil & Gas Co. (NYSE:MGY - Free Report) by 16.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 168,723 shares of the company's stock after selling 34,030 shares during the quarter. Millennium Management LLC owned approximately 0.09% of Magnolia Oil & Gas worth $3,945,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in MGY. First Trust Advisors LP grew its holdings in Magnolia Oil & Gas by 24.6% during the 4th quarter. First Trust Advisors LP now owns 15,410,496 shares of the company's stock worth $360,297,000 after acquiring an additional 3,038,709 shares during the last quarter. 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 purchasing an additional 667,973 shares during the last quarter. Barclays PLC grew its stake in shares of Magnolia Oil & Gas by 62.5% during the third quarter. Barclays PLC now owns 1,653,736 shares of the company's stock valued at $40,383,000 after purchasing an additional 636,049 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Magnolia Oil & Gas in the fourth quarter valued at approximately $13,634,000. Finally, Renaissance Technologies LLC raised its position in Magnolia Oil & Gas by 910.5% in the 4th quarter. Renaissance Technologies LLC now owns 541,400 shares of the company's stock worth $12,658,000 after purchasing an additional 487,820 shares during the last quarter. 94.73% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on MGY shares. Citigroup lowered their target price on Magnolia Oil & Gas from $22.00 to $19.00 and set a "sell" rating for the company in a research note on Tuesday, April 8th. Bank of America boosted their price objective on Magnolia Oil & Gas from $23.00 to $25.00 and gave the stock a "neutral" rating in a report on Friday, May 23rd. UBS Group started 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. Susquehanna cut their price objective 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. Finally, Piper Sandler reduced their price objective on shares of 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 analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $26.93.

Magnolia Oil & Gas Stock Up 1.9%

Shares of NYSE MGY traded up $0.42 during mid-day trading on Tuesday, reaching $22.43. 1,638,340 shares of the company's stock were exchanged, compared to its average volume of 2,274,281. Magnolia Oil & Gas Co. has a twelve month low of $19.09 and a twelve 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. The firm has a market capitalization of $4.32 billion, a price-to-earnings ratio of 11.62, a PEG ratio of 3.01 and a beta of 1.25. The business has a fifty day simple moving average of $21.77 and a 200 day simple moving average of $23.69.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last announced its 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 net margin of 27.82% and a return on equity of 20.74%. The firm had revenue of $350.30 million for the quarter, compared to the consensus estimate of $337.83 million. During the same period last year, the company posted $0.46 EPS. The business's quarterly revenue was up 9.7% on a year-over-year basis. As a group, equities analysts expect 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 was paid on Monday, June 2nd. Investors of record on Monday, May 12th were given a $0.15 dividend. The ex-dividend date was Monday, May 12th. This represents a $0.60 annualized dividend and a yield of 2.68%. 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.