GW&K Investment Management LLC Lowers Stock Position in Magnolia Oil & Gas Co. (NYSE:MGY)

GW&K Investment Management LLC trimmed its holdings in shares of Magnolia Oil & Gas Co. (NYSE:MGY - Free Report) by 2.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,738,308 shares of the company's stock after selling 100,163 shares during the period. Magnolia Oil & Gas comprises approximately 0.7% of GW&K Investment Management LLC's portfolio, making the stock its 22nd largest position. GW&K Investment Management LLC owned about 1.81% of Magnolia Oil & Gas worth $79,589,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Private Wealth Management Group LLC purchased a new stake in Magnolia Oil & Gas during the fourth quarter valued at about $33,000. VisionPoint Advisory Group LLC boosted its holdings in shares of Magnolia Oil & Gas by 112.3% during the third quarter. VisionPoint Advisory Group LLC now owns 1,537 shares of the company's stock worth $35,000 after purchasing an additional 813 shares during the period. Quadrant Capital Group LLC boosted its holdings in shares of Magnolia Oil & Gas by 40.4% during the fourth quarter. Quadrant Capital Group LLC now owns 4,623 shares of the company's stock worth $98,000 after purchasing an additional 1,331 shares during the period. Arlington Trust Co LLC purchased a new stake in shares of Magnolia Oil & Gas during the fourth quarter worth about $113,000. Finally, Signaturefd LLC boosted its holdings in shares of Magnolia Oil & Gas by 6.7% during the third quarter. Signaturefd LLC now owns 8,325 shares of the company's stock worth $191,000 after purchasing an additional 523 shares during the period. 94.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MGY has been the subject of a number of analyst reports. Mizuho increased their target price on shares of Magnolia Oil & Gas from $26.00 to $28.00 and gave the stock a "neutral" rating in a report on Monday, May 13th. Piper Sandler reiterated a "neutral" rating and set a $29.00 target price on shares of Magnolia Oil & Gas in a report on Friday, April 19th. Benchmark reiterated a "hold" rating on shares of Magnolia Oil & Gas in a report on Tuesday, April 23rd. Susquehanna raised their price objective on shares of Magnolia Oil & Gas from $28.00 to $31.00 and gave the stock a "positive" rating in a report on Monday, April 22nd. Finally, Truist Financial raised their price objective on shares of Magnolia Oil & Gas from $32.00 to $33.00 and gave the stock a "buy" rating in a report on Friday, February 16th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $27.88.

Magnolia Oil & Gas Stock Up 0.9 %

MGY traded up $0.24 on Monday, hitting $25.72. The company had a trading volume of 3,067,553 shares, compared to its average volume of 3,120,797. Magnolia Oil & Gas Co. has a 52-week low of $19.05 and a 52-week high of $27.33. The stock has a fifty day simple moving average of $25.65 and a 200-day simple moving average of $22.84. The firm has a market capitalization of $5.21 billion, a P/E ratio of 12.80, a P/E/G ratio of 1.46 and a beta of 2.03. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.71 and a quick ratio of 1.71.

Magnolia Oil & Gas Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Monday, May 13th will be paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date is Friday, May 10th. Magnolia Oil & Gas's dividend payout ratio is 25.87%.

Insider Buying and Selling at Magnolia Oil & Gas

In other Magnolia Oil & Gas news, Director John B. Walker sold 12,000,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $25.58, for a total transaction of $306,960,000.00. Following the completion of the transaction, the director now owns 4,164,961 shares of the company's stock, valued at $106,539,702.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.40% of the company's stock.

Magnolia Oil & Gas Profile

Magnolia Oil & Gas Corporation, an independent oil and natural gas company, engages in the acquisition, development, exploration, and production of oil, natural gas, and natural gas liquids reserves in the United States. Its properties are located primarily in Karnes County and the Giddings area in South Texas principally comprising the Eagle Ford Shale and the Austin Chalk formation.