Price T Rowe Associates Inc. MD Sells 84,568 Shares of Magnolia Oil & Gas Co. (NYSE:MGY)

Price T Rowe Associates Inc. MD lowered its stake in shares of Magnolia Oil & Gas Co. (NYSE:MGY - Free Report) by 15.8% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 449,540 shares of the company's stock after selling 84,568 shares during the period. Price T Rowe Associates Inc. MD owned approximately 0.23% of Magnolia Oil & Gas worth $10,512,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in MGY. Barclays PLC boosted its holdings in Magnolia Oil & Gas by 62.5% in the third 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. Tidal Investments LLC lifted its holdings in shares of Magnolia Oil & Gas by 21.9% during the 3rd quarter. Tidal Investments LLC now owns 34,636 shares of the company's stock valued at $846,000 after buying an additional 6,225 shares during the period. Principal Financial Group Inc. boosted its stake in shares of Magnolia Oil & Gas by 10.1% in the 3rd quarter. Principal Financial Group Inc. now owns 2,015,960 shares of the company's stock worth $49,238,000 after buying an additional 184,793 shares during the last quarter. Nordea Investment Management AB grew its holdings in shares of Magnolia Oil & Gas by 1.3% in the fourth quarter. Nordea Investment Management AB now owns 422,341 shares of the company's stock worth $9,938,000 after acquiring an additional 5,455 shares during the period. Finally, Oliver Luxxe Assets LLC increased its position in Magnolia Oil & Gas by 6.2% during the fourth quarter. Oliver Luxxe Assets LLC now owns 93,048 shares of the company's stock valued at $2,175,000 after acquiring an additional 5,424 shares during the last quarter. 94.73% of the stock is currently owned by institutional investors.

Insider Transactions at Magnolia Oil & Gas

In other Magnolia Oil & Gas news, CEO Christopher G. Stavros purchased 2,500 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The shares were bought at an average price of $22.05 per share, with a total value of $55,125.00. Following the completion of the purchase, the chief executive officer now directly owns 892,372 shares in the company, valued at $19,676,802.60. This trade represents a 0.28 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 1.20% of the company's stock.

Magnolia Oil & Gas Price Performance

MGY stock traded up $0.28 during midday trading on Tuesday, hitting $20.79. The company's stock had a trading volume of 3,344,137 shares, compared to its average volume of 2,324,655. The company has a quick ratio of 1.47, a current ratio of 1.42 and a debt-to-equity ratio of 0.20. Magnolia Oil & Gas Co. has a 12 month low of $19.09 and a 12 month high of $29.02. The company has a 50 day moving average of $22.51 and a two-hundred day moving average of $24.29. The firm has a market capitalization of $4.04 billion, a price-to-earnings ratio of 10.77, a price-to-earnings-growth ratio of 3.01 and a beta of 1.25.

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

Magnolia Oil & Gas Dividend Announcement

The company also recently announced 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. The ex-dividend date is Monday, May 12th. This represents a $0.60 annualized dividend and a dividend yield of 2.89%. Magnolia Oil & Gas's dividend payout ratio (DPR) is 29.85%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on MGY shares. Citigroup cut their price target on 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. Bank of America reaffirmed a "neutral" rating and set a $28.00 target price (down from $29.00) on shares of Magnolia Oil & Gas in a report on Monday, January 13th. Susquehanna dropped their price target on shares of Magnolia Oil & Gas from $31.00 to $30.00 and set a "positive" rating on the stock in a research note on Tuesday, April 22nd. Williams Trading set a $29.00 target price on Magnolia Oil & Gas in a report on Wednesday, March 5th. Finally, The Goldman Sachs Group downgraded Magnolia Oil & Gas from a "buy" rating to a "neutral" rating and lowered their target price for the company from $27.00 to $26.00 in a research report on Friday, January 31st. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, Magnolia Oil & Gas has a consensus rating of "Hold" and a consensus price target of $27.21.

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.