T. Rowe Price Investment Management Inc. Sells 1,315,624 Shares of Magnolia Oil & Gas Co. (NYSE:MGY)

T. Rowe Price Investment Management Inc. reduced its stake in Magnolia Oil & Gas Co. (NYSE:MGY - Free Report) by 14.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,950,997 shares of the company's stock after selling 1,315,624 shares during the period. T. Rowe Price Investment Management Inc. owned approximately 4.05% of Magnolia Oil & Gas worth $185,895,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. Susquehanna International Group LLP raised its position in Magnolia Oil & Gas by 86.9% during the fourth quarter. Susquehanna International Group LLP now owns 150,512 shares of the company's stock valued at $3,519,000 after purchasing an additional 69,995 shares in the last quarter. ClearAlpha Technologies LP acquired a new position in shares of Magnolia Oil & Gas during the fourth quarter worth $271,000. OneDigital Investment Advisors LLC increased its holdings in shares of Magnolia Oil & Gas by 3.0% during the fourth quarter. OneDigital Investment Advisors LLC now owns 15,768 shares of the company's stock worth $369,000 after buying an additional 464 shares in the last quarter. MetLife Investment Management LLC increased its holdings in shares of Magnolia Oil & Gas by 5.7% during the fourth quarter. MetLife Investment Management LLC now owns 105,622 shares of the company's stock worth $2,469,000 after buying an additional 5,736 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Magnolia Oil & Gas by 1.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,768,047 shares of the company's stock worth $111,475,000 after purchasing an additional 86,166 shares during the last quarter. 94.73% of the stock is currently owned by institutional investors.

Magnolia Oil & Gas Trading Down 1.3 %

NYSE:MGY traded down $0.29 during midday trading on Tuesday, reaching $21.39. 460,563 shares of the stock traded hands, compared to its average volume of 2,296,327. The company has a fifty day moving average of $22.80 and a 200 day moving average of $24.47. Magnolia Oil & Gas Co. has a 12 month low of $19.09 and a 12 month high of $29.02. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.47 and a current ratio of 1.42. The stock has a market capitalization of $4.15 billion, a P/E ratio of 11.07, a PEG ratio of 3.01 and a beta of 1.57.

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

Magnolia Oil & Gas Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Monday, May 12th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.81%. Magnolia Oil & Gas's dividend payout ratio is presently 31.09%.

Analyst Ratings Changes

A number of research firms have recently issued reports on MGY. Susquehanna cut their price objective on shares of 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. Williams Trading set a $29.00 target price on Magnolia Oil & Gas in a report on Wednesday, March 5th. Truist Financial lifted their target price on Magnolia Oil & Gas from $33.00 to $34.00 and gave the company a "buy" rating in a research report on Monday, January 13th. The Goldman Sachs Group cut Magnolia Oil & Gas from a "buy" rating to a "neutral" rating and cut their target price for the company from $27.00 to $26.00 in a research report on Friday, January 31st. Finally, UBS Group began coverage on Magnolia Oil & Gas in a research report on Tuesday, April 22nd. They set a "buy" rating and a $26.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $27.21.

Insider Transactions at Magnolia Oil & Gas

In other news, CEO Christopher G. Stavros acquired 2,500 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The shares were bought at an average cost of $22.05 per share, with a total value of $55,125.00. Following the transaction, the chief executive officer now owns 892,372 shares of the company's stock, valued at $19,676,802.60. This trade represents a 0.28 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.20% of the company's stock.

About Magnolia Oil & Gas

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.