Jacobs Levy Equity Management Inc. Sells 90,263 Shares of Magnolia Oil & Gas Co. (NYSE:MGY)

Jacobs Levy Equity Management Inc. lessened its position in shares of Magnolia Oil & Gas Co. (NYSE:MGY) by 23.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 295,679 shares of the company’s stock after selling 90,263 shares during the period. Jacobs Levy Equity Management Inc. owned approximately 0.15% of Magnolia Oil & Gas worth $6,913,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of Magnolia Oil & Gas by 2.2% during the fourth quarter. Vanguard Group Inc. now owns 20,938,200 shares of the company’s stock worth $489,535,000 after acquiring an additional 452,836 shares during the period. First Trust Advisors LP boosted its holdings in shares of Magnolia Oil & Gas by 24.6% during the fourth quarter. First Trust Advisors LP now owns 15,410,496 shares of the company’s stock worth $360,297,000 after acquiring an additional 3,038,709 shares during the period. Janus Henderson Group PLC boosted its holdings in shares of Magnolia Oil & Gas by 11.7% during the fourth quarter. Janus Henderson Group PLC now owns 6,396,875 shares of the company’s stock worth $149,559,000 after acquiring an additional 667,973 shares during the period. Wellington Management Group LLP boosted its holdings in shares of Magnolia Oil & Gas by 0.5% during the fourth quarter. Wellington Management Group LLP now owns 5,020,646 shares of the company’s stock worth $117,383,000 after acquiring an additional 26,943 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Magnolia Oil & Gas by 1.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,768,047 shares of the company’s stock worth $111,475,000 after acquiring an additional 86,166 shares during the period. Institutional investors own 94.73% of the company’s stock.

Analysts Set New Price Targets

MGY has been the subject of a number of research analyst reports. Piper Sandler reduced their price objective on Magnolia Oil & Gas from $25.00 to $24.00 and set a “neutral” rating for the company in a report on Tuesday. Williams Trading set a $29.00 price target on shares of Magnolia Oil & Gas in a research report on Wednesday, March 5th. Susquehanna dropped their price target on shares of Magnolia Oil & Gas from $31.00 to $30.00 and set a “positive” rating for the company in a research report on Tuesday, April 22nd. Citigroup dropped their price target on shares of Magnolia Oil & Gas from $22.00 to $19.00 and set a “sell” rating for the company in a research report on Tuesday, April 8th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Magnolia Oil & Gas from $28.00 to $24.00 and set a “neutral” rating for the company in a research report on Thursday, March 13th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $27.14.

Insider Transactions at Magnolia Oil & Gas

In related news, CEO Christopher G. Stavros acquired 2,500 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The stock was acquired at an average cost of $22.05 per share, for a total transaction 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 approximately $19,676,802.60. This trade represents a 0.28% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 1.20% of the company’s stock.

Magnolia Oil & Gas Stock Up 1.3%

Shares of NYSE:MGY opened at $23.31 on Wednesday. The company has a fifty day moving average of $22.39 and a 200-day moving average of $24.14. The company has a market capitalization of $4.53 billion, a PE ratio of 12.08, a price-to-earnings-growth ratio of 3.01 and a beta of 1.25. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.47 and a current ratio of 1.42. Magnolia Oil & Gas Co. has a 52-week low of $19.09 and a 52-week high of $29.02.

Magnolia Oil & Gas (NYSE:MGY) last announced 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. The company had revenue of $350.30 million during the quarter, compared to the consensus estimate of $337.83 million. Magnolia Oil & Gas had a net margin of 27.82% and a return on equity of 20.74%. The company’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.46 earnings per share. On average, equities analysts predict that Magnolia Oil & Gas Co. will post 2.1 EPS for the current fiscal year.

Magnolia Oil & Gas Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Monday, May 12th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Monday, May 12th. This represents a $0.60 annualized dividend and a dividend yield of 2.57%. Magnolia Oil & Gas’s dividend payout ratio (DPR) is presently 29.85%.

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.