Guggenheim Capital LLC Trims Stake in Magnolia Oil & Gas Co. (NYSE:MGY)

Guggenheim Capital LLC lowered its position in shares of Magnolia Oil & Gas Co. (NYSE:MGY) by 44.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,743 shares of the company’s stock after selling 7,914 shares during the period. Guggenheim Capital LLC’s holdings in Magnolia Oil & Gas were worth $228,000 at the end of the most recent reporting period.

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

Magnolia Oil & Gas Stock Up 2.2 %

MGY stock opened at $21.69 on Tuesday. Magnolia Oil & Gas Co. has a fifty-two week low of $19.09 and a fifty-two week high of $29.02. The business’s 50 day moving average price is $22.80 and its two-hundred day moving average price is $24.47. 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 company has a market capitalization of $4.21 billion, a price-to-earnings ratio of 11.24, a price-to-earnings-growth ratio of 3.01 and a beta of 1.57.

Magnolia Oil & Gas (NYSE:MGY) last released its earnings results on Tuesday, February 18th. The company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.03. The firm had revenue of $326.61 million for the quarter, compared to analysts’ expectations of $327.40 million. Magnolia Oil & Gas had a return on equity of 20.74% and a net margin of 27.82%. As a group, analysts forecast that Magnolia Oil & Gas Co. will post 2.1 earnings per share for the current fiscal year.

Magnolia Oil & Gas Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 2.77%. The ex-dividend date was Friday, February 14th. This is a positive change from Magnolia Oil & Gas’s previous quarterly dividend of $0.13. Magnolia Oil & Gas’s payout ratio is currently 31.09%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on MGY. Susquehanna lowered their target price on Magnolia Oil & Gas from $31.00 to $30.00 and set a “positive” rating for the company in a research note on Tuesday, April 22nd. Piper Sandler lowered their target price on 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. UBS Group began coverage on Magnolia Oil & Gas in a research note on Tuesday, April 22nd. They issued a “buy” rating and a $26.00 target price for the company. Truist Financial boosted their target price on Magnolia Oil & Gas from $33.00 to $34.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Finally, The Goldman Sachs Group lowered Magnolia Oil & Gas from a “buy” rating to a “neutral” rating and lowered their price target for the company from $27.00 to $26.00 in a research report on Friday, January 31st. Two analysts have rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $27.21.

Insider Transactions at Magnolia Oil & Gas

In related news, CEO Christopher G. Stavros purchased 2,500 shares of the stock in a transaction dated Monday, March 3rd. The stock was purchased at an average price of $22.05 per share, with a total value of $55,125.00. Following the transaction, the chief executive officer now directly owns 892,372 shares in the company, 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 Securities & Exchange Commission, which can be accessed through this link. 1.20% of the stock is owned by insiders.

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.