SIR Capital Management L.P. Cuts Stock Holdings in Magnolia Oil & Gas Co. (NYSE:MGY)

SIR Capital Management L.P. lessened its holdings in Magnolia Oil & Gas Co. (NYSE:MGY - Free Report) by 77.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 83,800 shares of the company's stock after selling 292,100 shares during the quarter. SIR Capital Management L.P.'s holdings in Magnolia Oil & Gas were worth $1,959,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the company. ProShare Advisors LLC grew its stake in shares of Magnolia Oil & Gas by 44.3% during the 4th quarter. ProShare Advisors LLC now owns 52,547 shares of the company's stock worth $1,229,000 after acquiring an additional 16,120 shares during the period. Man Group plc raised its holdings in shares of Magnolia Oil & Gas by 9.2% in the 4th quarter. Man Group plc now owns 321,509 shares of the company's stock valued at $7,517,000 after acquiring an additional 27,039 shares in the last quarter. Nicholas Investment Partners LP raised its holdings in shares of Magnolia Oil & Gas by 61.4% in the 4th quarter. Nicholas Investment Partners LP now owns 140,833 shares of the company's stock valued at $3,293,000 after acquiring an additional 53,586 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Magnolia Oil & Gas by 4.0% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 98,597 shares of the company's stock valued at $2,305,000 after purchasing an additional 3,776 shares during the last quarter. Finally, Janus Henderson Group PLC increased its position in shares of Magnolia Oil & Gas by 11.7% during the 4th quarter. Janus Henderson Group PLC now owns 6,396,875 shares of the company's stock valued at $149,559,000 after purchasing an additional 667,973 shares during the last quarter. Institutional investors own 94.73% of the company's stock.

Insider Activity at Magnolia Oil & Gas

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

Magnolia Oil & Gas Stock Performance

Shares of NYSE MGY traded down $0.28 during trading on Monday, reaching $22.36. 1,867,165 shares of the company traded hands, compared to its average volume of 2,293,053. The firm's fifty day simple moving average is $22.36 and its 200 day simple moving average is $24.05. The stock has a market cap of $4.30 billion, a P/E ratio of 11.59, a PEG ratio of 3.01 and a beta of 1.25. Magnolia Oil & Gas Co. has a 12-month low of $19.09 and a 12-month high of $29.02. The company has a current ratio of 1.42, a quick ratio of 1.47 and a debt-to-equity ratio of 0.20.

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 for the quarter, beating the consensus estimate of $0.53 by $0.02. Magnolia Oil & Gas had a return on equity of 20.74% and a net margin of 27.82%. The firm 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. Magnolia Oil & Gas's revenue for the quarter was up 9.7% compared to the same quarter last year. As a group, research analysts anticipate that Magnolia Oil & Gas Co. will post 2.1 earnings per share for the current fiscal year.

Magnolia Oil & Gas Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Monday, May 12th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Monday, May 12th. This represents a $0.60 annualized dividend and a dividend yield of 2.68%. Magnolia Oil & Gas's dividend payout ratio is presently 29.85%.

Analysts Set New Price Targets

Several brokerages have recently commented on MGY. Susquehanna reduced their price objective on Magnolia Oil & Gas from $31.00 to $30.00 and set a "positive" rating on the stock in a research report on Tuesday, April 22nd. Citigroup lowered their target price 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. Johnson Rice cut Magnolia Oil & Gas from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, January 28th. Williams Trading set a $29.00 price objective on Magnolia Oil & Gas in a report on Wednesday, March 5th. Finally, Piper Sandler cut their price target on Magnolia Oil & Gas from $25.00 to $24.00 and set a "neutral" rating for the company in a report on Tuesday, May 13th. Two equities 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. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $27.14.

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.