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

Millennium Management LLC decreased its stake in shares of Magnolia Oil & Gas Co. (NYSE:MGY - Free Report) by 16.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 168,723 shares of the company's stock after selling 34,030 shares during the quarter. Millennium Management LLC owned about 0.09% of Magnolia Oil & Gas worth $3,945,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Magnolia Oil & Gas by 4.0% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 98,597 shares of the company's stock valued at $2,305,000 after purchasing an additional 3,776 shares in the last quarter. Janus Henderson Group PLC boosted its stake in Magnolia Oil & Gas by 11.7% in the fourth 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 in the last quarter. Ethic Inc. boosted its stake in Magnolia Oil & Gas by 18.4% in the fourth quarter. Ethic Inc. now owns 11,006 shares of the company's stock worth $257,000 after buying an additional 1,713 shares in the last quarter. Ensign Peak Advisors Inc boosted its stake in Magnolia Oil & Gas by 197.2% in the fourth quarter. Ensign Peak Advisors Inc now owns 214,106 shares of the company's stock worth $5,006,000 after buying an additional 142,067 shares in the last quarter. Finally, Deutsche Bank AG boosted its stake in Magnolia Oil & Gas by 42.7% in the fourth quarter. Deutsche Bank AG now owns 187,715 shares of the company's stock worth $4,389,000 after buying an additional 56,161 shares in the last quarter. Institutional investors and hedge funds own 94.73% of the company's stock.

Analyst Ratings Changes

Several analysts have issued reports on MGY shares. JPMorgan Chase & Co. cut their target price on Magnolia Oil & Gas from $28.00 to $24.00 and set a "neutral" rating for the company in a research note on Thursday, March 13th. Citigroup lowered their price objective on 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. Bank of America boosted their price objective on Magnolia Oil & Gas from $23.00 to $25.00 and gave the company a "neutral" rating in a research report on Friday, May 23rd. The Goldman Sachs Group downgraded Magnolia Oil & Gas from a "buy" rating to a "neutral" rating and lowered their price objective for the company from $27.00 to $26.00 in a research report on Friday, January 31st. Finally, UBS Group began coverage on Magnolia Oil & Gas in a research report on Tuesday, April 22nd. They issued a "buy" rating and a $26.00 price objective for the company. Two research 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's stock. Based on data from MarketBeat, Magnolia Oil & Gas presently has a consensus rating of "Hold" and an average target price of $26.93.

Magnolia Oil & Gas Stock Down 1.9%

MGY traded down $0.41 during trading on Friday, reaching $21.48. The stock had a trading volume of 2,537,224 shares, compared to its average volume of 2,280,362. Magnolia Oil & Gas Co. has a one year low of $19.09 and a one year high of $29.02. The company has a market capitalization of $4.13 billion, a price-to-earnings ratio of 11.13, a P/E/G ratio of 3.01 and a beta of 1.25. The stock's 50 day moving average is $21.91 and its two-hundred day moving average is $23.76. 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 EPS for the quarter, topping analysts' consensus estimates 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 analysts' expectations of $337.83 million. During the same period in the prior year, the firm posted $0.46 earnings per share. The company's quarterly revenue was up 9.7% on a year-over-year basis. As a group, analysts expect that Magnolia Oil & Gas Co. will post 2.1 earnings per share for the current year.

Magnolia Oil & Gas Dividend Announcement

The business also recently announced 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. The ex-dividend date is Monday, May 12th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.79%. Magnolia Oil & Gas's dividend payout ratio is currently 29.85%.

Insider Transactions at Magnolia Oil & Gas

In other Magnolia Oil & Gas news, CEO Christopher G. Stavros acquired 2,500 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The shares were bought at an average cost of $22.05 per share, with a total value of $55,125.00. Following the completion of the transaction, the chief executive officer now directly owns 892,372 shares of the company's stock, valued at approximately $19,676,802.60. This represents a 0.28% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 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.