Rafferty Asset Management LLC Sells 36,926 Shares of Magnolia Oil & Gas Co. (NYSE:MGY)

Rafferty Asset Management LLC lowered its position in Magnolia Oil & Gas Co. (NYSE:MGY - Free Report) by 16.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 192,560 shares of the company's stock after selling 36,926 shares during the period. Rafferty Asset Management LLC owned 0.10% of Magnolia Oil & Gas worth $4,502,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. First Trust Advisors LP raised its position in Magnolia Oil & Gas by 24.6% in the 4th 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 raised its position 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 purchasing an additional 667,973 shares during the last quarter. Barclays PLC raised its position in Magnolia Oil & Gas by 62.5% in the 3rd quarter. Barclays PLC now owns 1,653,736 shares of the company's stock worth $40,383,000 after purchasing an additional 636,049 shares during the last quarter. Raymond James Financial Inc. bought a new position in Magnolia Oil & Gas in the 4th quarter worth 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. Institutional investors own 94.73% of the company's stock.

Insider Activity

In other news, CEO Christopher G. Stavros purchased 2,500 shares of the firm's stock in a transaction dated Monday, March 3rd. The stock was bought at an average price of $22.05 per share, with a total value of $55,125.00. Following the acquisition, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.20% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on MGY. Bank of America boosted their price objective on shares of Magnolia Oil & Gas from $23.00 to $25.00 and gave the stock a "neutral" rating in a research report on Friday. Piper Sandler dropped their price objective on shares of Magnolia Oil & Gas from $25.00 to $24.00 and set a "neutral" rating for the company in a research report on Tuesday, May 13th. The Goldman Sachs Group cut shares of Magnolia Oil & Gas from a "buy" rating to a "neutral" rating and dropped their price objective for the stock from $27.00 to $26.00 in a research report on Friday, January 31st. Citigroup dropped their price objective 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. Finally, UBS Group started coverage on shares of 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 investment 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, the stock currently has an average rating of "Hold" and an average price target of $26.93.

Magnolia Oil & Gas Trading Down 0.2%

MGY traded down $0.04 during trading on Friday, reaching $21.67. 1,163,227 shares of the company's stock were exchanged, compared to its average volume of 2,284,937. The company's fifty day moving average price is $22.24 and its 200-day moving average price is $23.95. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.47 and a current ratio of 1.42. Magnolia Oil & Gas Co. has a fifty-two week low of $19.09 and a fifty-two week high of $29.02. The firm has a market capitalization of $4.17 billion, a PE ratio of 11.23, a P/E/G ratio of 3.01 and a beta of 1.25.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last announced its quarterly 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 net margin of 27.82% and a return on equity of 20.74%. The company had revenue of $350.30 million during the quarter, compared to analyst estimates of $337.83 million. During the same quarter in the previous year, the business earned $0.46 EPS. The firm's revenue was up 9.7% on a year-over-year basis. As a group, equities analysts forecast that Magnolia Oil & Gas Co. will post 2.1 EPS for the current year.

Magnolia Oil & Gas Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Monday, May 12th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 2.77%. The ex-dividend date of this dividend is Monday, May 12th. Magnolia Oil & Gas's dividend payout ratio (DPR) is 29.85%.

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.