Rafferty Asset Management LLC Has $4.50 Million Holdings in Magnolia Oil & Gas Co. (NYSE:MGY)

Rafferty Asset Management LLC cut its position in Magnolia Oil & Gas Co. (NYSE:MGY) by 16.1% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 192,560 shares of the company’s stock after selling 36,926 shares during the quarter. Rafferty Asset Management LLC’s holdings in Magnolia Oil & Gas were worth $4,502,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. grew its stake in Magnolia Oil & Gas by 2.2% in the 4th quarter. Vanguard Group Inc. now owns 20,938,200 shares of the company’s stock valued at $489,535,000 after buying an additional 452,836 shares during the last quarter. First Trust Advisors LP boosted its holdings in Magnolia Oil & Gas by 24.6% in the 4th quarter. First Trust Advisors LP now owns 15,410,496 shares of the company’s stock valued at $360,297,000 after purchasing an additional 3,038,709 shares during the period. Janus Henderson Group PLC boosted its holdings in Magnolia Oil & Gas by 11.7% in 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 period. Wellington Management Group LLP boosted its holdings in Magnolia Oil & Gas by 0.5% in the 4th quarter. Wellington Management Group LLP now owns 5,020,646 shares of the company’s stock valued at $117,383,000 after purchasing an additional 26,943 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in Magnolia Oil & Gas by 1.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,768,047 shares of the company’s stock valued at $111,475,000 after purchasing an additional 86,166 shares during the period. 94.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Magnolia Oil & Gas news, CEO Christopher G. Stavros bought 2,500 shares of Magnolia Oil & Gas stock in a transaction dated 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 purchase, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 1.20% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on MGY. JPMorgan Chase & Co. reduced 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 report on Thursday, March 13th. Johnson Rice downgraded shares of Magnolia Oil & Gas from a “moderate buy” rating to a “hold” rating in a report on Tuesday, January 28th. Citigroup reduced 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 report on Tuesday, April 8th. The Goldman Sachs Group downgraded shares of Magnolia Oil & Gas from a “buy” rating to a “neutral” rating and reduced their price target for the company from $27.00 to $26.00 in a report on Friday, January 31st. Finally, UBS Group started coverage on shares of Magnolia Oil & Gas in a research note on Tuesday, April 22nd. They issued a “buy” rating and a $26.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Magnolia Oil & Gas presently has a consensus rating of “Hold” and an average target price of $27.14.

Magnolia Oil & Gas Trading Down 0.6%

MGY opened at $22.64 on Monday. The company has a current ratio of 1.42, a quick ratio of 1.47 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $4.36 billion, a PE ratio of 11.73, a PEG ratio of 3.01 and a beta of 1.25. Magnolia Oil & Gas Co. has a 1-year low of $19.09 and a 1-year high of $29.02. The firm has a 50-day moving average price of $22.38 and a two-hundred day moving average price of $24.07.

Magnolia Oil & Gas (NYSE:MGY) last posted its quarterly earnings data 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. The firm had revenue of $350.30 million during the quarter, compared to analysts’ expectations 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 quarterly revenue was up 9.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.46 EPS. As a group, equities analysts anticipate that Magnolia Oil & Gas Co. will post 2.1 earnings per share for the current fiscal 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 paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 2.65%. The ex-dividend date is Monday, May 12th. Magnolia Oil & Gas’s dividend payout ratio (DPR) is presently 29.85%.

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.