Balyasny Asset Management L.P. Sells 11,606 Shares of Magnolia Oil & Gas Co. (NYSE:MGY)

Balyasny Asset Management L.P. cut its stake in Magnolia Oil & Gas Co. (NYSE:MGY) by 47.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,860 shares of the company’s stock after selling 11,606 shares during the period. Balyasny Asset Management L.P.’s holdings in Magnolia Oil & Gas were worth $301,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of MGY. Barclays PLC raised its stake in shares of Magnolia Oil & Gas by 62.5% in the third quarter. Barclays PLC now owns 1,653,736 shares of the company’s stock worth $40,383,000 after acquiring an additional 636,049 shares during the last quarter. Park Avenue Securities LLC raised its stake in shares of Magnolia Oil & Gas by 30.8% during the fourth quarter. Park Avenue Securities LLC now owns 13,336 shares of the company’s stock worth $312,000 after buying an additional 3,142 shares during the last quarter. Albert D Mason Inc. raised its stake in shares of Magnolia Oil & Gas by 0.7% during the fourth quarter. Albert D Mason Inc. now owns 61,497 shares of the company’s stock worth $1,438,000 after buying an additional 411 shares during the last quarter. Mitsubishi UFJ Asset Management UK Ltd. bought a new stake in shares of Magnolia Oil & Gas during the fourth quarter worth approximately $912,000. Finally, Avior Wealth Management LLC raised its stake in shares of Magnolia Oil & Gas by 30.0% during the fourth quarter. Avior Wealth Management LLC now owns 2,194 shares of the company’s stock worth $51,000 after buying an additional 506 shares during the last quarter. 94.73% of the stock is owned by institutional investors.

Magnolia Oil & Gas Stock Performance

Shares of MGY opened at $22.64 on Friday. Magnolia Oil & Gas Co. has a 12 month low of $19.09 and a 12 month high of $29.02. The firm has a fifty day simple moving average of $22.38 and a 200 day simple moving average of $24.08. The stock has a market capitalization of $4.36 billion, a price-to-earnings ratio of 11.73, a PEG ratio of 3.01 and a beta of 1.25. The company has a current ratio of 1.42, a quick ratio of 1.47 and a debt-to-equity ratio of 0.20.

Magnolia Oil & Gas (NYSE:MGY) last announced its earnings results on Wednesday, April 30th. The company reported $0.55 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 during the quarter, compared to analysts’ expectations of $337.83 million. During the same quarter in the prior year, the company posted $0.46 earnings per share. The firm’s revenue was up 9.7% on a year-over-year basis. Research analysts forecast that Magnolia Oil & Gas Co. will post 2.1 EPS for the current fiscal year.

Magnolia Oil & Gas Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Monday, May 12th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 2.65%. The ex-dividend date of this dividend is Monday, May 12th. Magnolia Oil & Gas’s payout ratio is 29.85%.

Insider Buying and Selling

In other news, CEO Christopher G. Stavros purchased 2,500 shares of the company’s stock in a transaction on 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 transaction, the chief executive officer now owns 892,372 shares of the company’s stock, valued at $19,676,802.60. The trade was a 0.28% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.20% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on MGY shares. 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 note on Tuesday, April 8th. Piper Sandler dropped their price target on shares of Magnolia Oil & Gas from $25.00 to $24.00 and set a “neutral” rating for the company in a research note on Tuesday, May 13th. 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 note on Thursday, March 13th. UBS Group initiated coverage on shares of 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. Finally, Johnson Rice downgraded shares of Magnolia Oil & Gas from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, January 28th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $27.14.

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.