Magnolia Oil & Gas Co. (NYSE:MGY) Shares Sold by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. lowered its holdings in Magnolia Oil & Gas Co. (NYSE:MGY - Free Report) by 23.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 295,679 shares of the company's stock after selling 90,263 shares during the period. Jacobs Levy Equity Management Inc. owned about 0.15% of Magnolia Oil & Gas worth $6,913,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of MGY. Mather Group LLC. grew its stake in Magnolia Oil & Gas by 100.0% in the fourth quarter. Mather Group LLC. now owns 1,090 shares of the company's stock worth $25,000 after purchasing an additional 545 shares in the last quarter. Larson Financial Group LLC grew its position in shares of Magnolia Oil & Gas by 112.3% in the 4th quarter. Larson Financial Group LLC now owns 1,072 shares of the company's stock worth $25,000 after acquiring an additional 567 shares in the last quarter. R Squared Ltd acquired a new position in shares of Magnolia Oil & Gas in the 4th quarter worth approximately $43,000. Quarry LP increased its holdings in shares of 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 acquiring an additional 1,949 shares during the last quarter. Finally, Avior Wealth Management LLC increased its holdings in shares of 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 acquiring an additional 506 shares during the last quarter. Institutional investors and hedge funds own 94.73% of the company's stock.

Wall Street Analysts Forecast Growth

MGY has been the topic of several research analyst reports. Citigroup reduced their price objective on Magnolia Oil & Gas from $22.00 to $19.00 and set a "sell" rating on the stock in a research note on Tuesday, April 8th. JPMorgan Chase & Co. reduced their price target 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. Piper Sandler lowered 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. UBS Group assumed coverage on shares of Magnolia Oil & Gas in a research note on Tuesday, April 22nd. They set a "buy" rating and a $26.00 price objective on the stock. Finally, The Goldman Sachs Group downgraded 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 note on Friday, January 31st. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $27.14.

Insiders Place Their Bets

In other news, CEO Christopher G. Stavros acquired 2,500 shares of the business's stock in a transaction dated Monday, March 3rd. The stock was acquired at an average price of $22.05 per share, for a total transaction of $55,125.00. Following the completion of the acquisition, the chief executive officer now directly owns 892,372 shares in the company, valued at $19,676,802.60. This represents a 0.28% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. 1.20% of the stock is owned by insiders.

Magnolia Oil & Gas Stock Performance

MGY traded down $0.36 during trading hours on Monday, hitting $22.29. The company's stock had a trading volume of 379,060 shares, compared to its average volume of 2,287,355. The company has a 50-day simple moving average of $22.38 and a 200 day simple moving average of $24.07. 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 $4.29 billion, a PE ratio of 11.53, a PEG ratio of 3.01 and a beta of 1.25. Magnolia Oil & Gas Co. has a fifty-two week low of $19.09 and a fifty-two week high of $29.02.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $0.55 EPS for the quarter, beating analysts' consensus estimates of $0.53 by $0.02. The company had revenue of $350.30 million for the quarter, compared to analyst estimates of $337.83 million. Magnolia Oil & Gas had a return on equity of 20.74% and a net margin of 27.82%. The company's quarterly revenue was up 9.7% compared to the same quarter last year. During the same period last year, the company earned $0.46 earnings per share. As a group, sell-side analysts expect that Magnolia Oil & Gas Co. will post 2.1 EPS for the current year.

Magnolia Oil & Gas Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Monday, May 12th will be paid a dividend of $0.15 per share. The ex-dividend date is Monday, May 12th. This represents a $0.60 annualized dividend and a yield of 2.69%. Magnolia Oil & Gas's payout ratio is 29.85%.

Magnolia Oil & Gas 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.