Magnolia Oil & Gas Co. (NYSE:MGY) Shares Sold by Tower Research Capital LLC TRC

Tower Research Capital LLC TRC decreased its position in shares of Magnolia Oil & Gas Co. (NYSE:MGY - Free Report) by 79.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,514 shares of the company's stock after selling 21,761 shares during the period. Tower Research Capital LLC TRC's holdings in Magnolia Oil & Gas were worth $129,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Mather Group LLC. lifted its holdings in shares of Magnolia Oil & Gas by 100.0% in the 4th quarter. Mather Group LLC. now owns 1,090 shares of the company's stock valued at $25,000 after acquiring an additional 545 shares during the last quarter. Larson Financial Group LLC lifted its holdings in shares of Magnolia Oil & Gas by 112.3% in the 4th quarter. Larson Financial Group LLC now owns 1,072 shares of the company's stock valued at $25,000 after acquiring an additional 567 shares during the last quarter. R Squared Ltd bought a new stake in Magnolia Oil & Gas in the fourth quarter worth about $43,000. Avior Wealth Management LLC lifted its stake in Magnolia Oil & Gas by 30.0% in the fourth quarter. Avior Wealth Management LLC now owns 2,194 shares of the company's stock worth $51,000 after purchasing an additional 506 shares during the last quarter. Finally, Smartleaf Asset Management LLC lifted its stake in Magnolia Oil & Gas by 95.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 3,777 shares of the company's stock worth $88,000 after purchasing an additional 1,844 shares during the last quarter. Hedge funds and other institutional investors own 94.73% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Magnolia Oil & Gas from $28.00 to $24.00 and set a "neutral" rating for the company in a research note on Thursday, March 13th. Truist Financial raised their price objective on shares of Magnolia Oil & Gas from $33.00 to $34.00 and gave the stock a "buy" rating in a research note on Monday, January 13th. Bank of America reissued a "neutral" rating and issued a $28.00 price objective (down previously from $29.00) on shares of Magnolia Oil & Gas in a research note on Monday, January 13th. Citigroup decreased their price objective 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. Finally, Piper Sandler decreased their price objective on shares of Magnolia Oil & Gas from $26.00 to $25.00 and set a "neutral" rating for the company in a research note on Tuesday, April 22nd. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Magnolia Oil & Gas has a consensus rating of "Hold" and a consensus price target of $27.21.

Magnolia Oil & Gas Stock Up 0.9%

NYSE MGY traded up $0.21 on Tuesday, hitting $23.21. The stock had a trading volume of 655,602 shares, compared to its average volume of 2,305,091. The business's fifty day moving average price is $22.39 and its 200 day moving average price is $24.14. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.42 and a quick ratio of 1.47. Magnolia Oil & Gas Co. has a 52-week low of $19.09 and a 52-week high of $29.02. The stock has a market cap of $4.51 billion, a price-to-earnings ratio of 12.03, a price-to-earnings-growth ratio of 3.01 and a beta of 1.25.

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

Magnolia Oil & Gas Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Monday, May 12th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 2.59%. The ex-dividend date of this dividend is Monday, May 12th. Magnolia Oil & Gas's dividend payout ratio is currently 29.85%.

Insiders Place Their Bets

In related news, CEO Christopher G. Stavros acquired 2,500 shares of the company's stock in a transaction dated Monday, March 3rd. The shares were purchased at an average cost of $22.05 per share, with a total value of $55,125.00. Following the completion of the acquisition, the chief executive officer now directly owns 892,372 shares of the company's stock, valued at $19,676,802.60. This represents a 0.28% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate 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.