Russell Investments Group Ltd. Sells 25,602 Shares of Magnolia Oil & Gas Co. (NYSE:MGY)

Russell Investments Group Ltd. trimmed its holdings in Magnolia Oil & Gas Co. (NYSE:MGY - Free Report) by 11.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 205,210 shares of the company's stock after selling 25,602 shares during the period. Russell Investments Group Ltd. owned about 0.10% of Magnolia Oil & Gas worth $4,798,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of MGY. Envestnet Asset Management Inc. boosted its holdings in shares of Magnolia Oil & Gas by 2.6% in the fourth quarter. Envestnet Asset Management Inc. now owns 406,671 shares of the company's stock valued at $9,508,000 after buying an additional 10,327 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in shares of Magnolia Oil & Gas during the 4th quarter worth approximately $605,000. Wells Fargo & Company MN lifted its position in shares of Magnolia Oil & Gas by 22.8% in the fourth quarter. Wells Fargo & Company MN now owns 259,038 shares of the company's stock worth $6,056,000 after purchasing an additional 48,145 shares in the last quarter. ExodusPoint Capital Management LP grew its position in Magnolia Oil & Gas by 683.9% in the fourth quarter. ExodusPoint Capital Management LP now owns 406,853 shares of the company's stock valued at $9,512,000 after purchasing an additional 354,949 shares in the last quarter. Finally, Nicolet Advisory Services LLC acquired a new stake in Magnolia Oil & Gas in the 4th quarter valued at $205,000. 94.73% of the stock is currently owned by institutional investors.

Insider Activity at Magnolia Oil & Gas

In other news, CEO Christopher G. Stavros acquired 2,500 shares of Magnolia Oil & Gas stock in a transaction that occurred on Monday, March 3rd. The shares were acquired at an average price of $22.05 per share, for a total transaction of $55,125.00. Following the transaction, the chief executive officer now directly owns 892,372 shares of the company's stock, valued at approximately $19,676,802.60. The trade was a 0.28 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.20% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts recently issued reports on MGY shares. JPMorgan Chase & Co. dropped their target price on Magnolia Oil & Gas from $28.00 to $24.00 and set a "neutral" rating on the stock in a report on Thursday, March 13th. Citigroup decreased their target price on shares of 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. Johnson Rice downgraded shares of Magnolia Oil & Gas from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, January 28th. Piper Sandler raised their target price on shares of Magnolia Oil & Gas from $24.00 to $26.00 and gave the company a "neutral" rating in a research note on Wednesday, January 29th. Finally, The Goldman Sachs Group lowered Magnolia Oil & Gas from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $27.00 to $26.00 in a research note on Friday, January 31st. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $27.54.

Magnolia Oil & Gas Price Performance

NYSE:MGY traded up $0.38 during mid-day trading on Friday, reaching $21.10. The stock had a trading volume of 2,208,986 shares, compared to its average volume of 2,291,607. Magnolia Oil & Gas Co. has a 12 month low of $19.09 and a 12 month high of $29.02. The stock has a market capitalization of $4.10 billion, a PE ratio of 10.93, a P/E/G ratio of 3.01 and a beta of 1.57. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.42 and a quick ratio of 1.47. The stock has a 50-day simple moving average of $23.11 and a two-hundred day simple moving average of $24.72.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last posted its quarterly earnings results on Tuesday, February 18th. The company reported $0.49 EPS for the quarter, topping analysts' consensus estimates of $0.46 by $0.03. The company had revenue of $326.61 million during the quarter, compared to analysts' expectations of $327.40 million. Magnolia Oil & Gas had a return on equity of 20.74% and a net margin of 27.82%. On average, equities analysts anticipate that Magnolia Oil & Gas Co. will post 2.1 earnings per share for the current year.

Magnolia Oil & Gas Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were paid a $0.15 dividend. This is an increase from Magnolia Oil & Gas's previous quarterly dividend of $0.13. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.84%. The ex-dividend date of this dividend was Friday, February 14th. Magnolia Oil & Gas's dividend payout ratio (DPR) is presently 31.09%.

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.