Stephens Investment Management Group LLC Reduces Stake in Magnolia Oil & Gas Co. (NYSE:MGY)

Stephens Investment Management Group LLC lessened its stake in shares of Magnolia Oil & Gas Co. (NYSE:MGY) by 1.2% in the fourth quarter, Holdings Channel reports. The institutional investor owned 2,707,336 shares of the company’s stock after selling 32,012 shares during the quarter. Stephens Investment Management Group LLC’s holdings in Magnolia Oil & Gas were worth $63,298,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Harbor Capital Advisors Inc. bought a new stake in Magnolia Oil & Gas during the 3rd quarter worth approximately $25,000. First Horizon Advisors Inc. increased its holdings in shares of Magnolia Oil & Gas by 64.7% in the third quarter. First Horizon Advisors Inc. now owns 1,008 shares of the company’s stock worth $25,000 after purchasing an additional 396 shares during the period. Mather Group LLC. raised its position in shares of Magnolia Oil & Gas by 100.0% in the fourth quarter. Mather Group LLC. now owns 1,090 shares of the company’s stock worth $25,000 after buying an additional 545 shares in the last quarter. R Squared Ltd bought a new stake in Magnolia Oil & Gas during the fourth quarter valued at $43,000. Finally, Avior Wealth Management LLC grew its position in 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 in the last quarter. 94.73% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

MGY has been the topic of several recent analyst reports. Piper Sandler raised their price target on Magnolia Oil & Gas from $24.00 to $26.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. Siebert Williams Shank lowered shares of Magnolia Oil & Gas from a “buy” rating to a “hold” rating and set a $30.00 target price for the company. in a research report on Tuesday, October 15th. Johnson Rice downgraded Magnolia Oil & Gas from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, January 28th. Mizuho upped their price objective on Magnolia Oil & Gas from $27.00 to $28.00 and gave the stock a “neutral” rating in a report on Monday, December 16th. Finally, Benchmark reissued a “hold” rating on shares of Magnolia Oil & Gas in a report on Tuesday, October 15th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Magnolia Oil & Gas has a consensus rating of “Hold” and an average target price of $27.58.

Magnolia Oil & Gas Stock Performance

NYSE:MGY opened at $22.78 on Friday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.47 and a current ratio of 1.47. Magnolia Oil & Gas Co. has a fifty-two week low of $20.08 and a fifty-two week high of $29.02. The business has a 50 day moving average price of $24.71 and a 200-day moving average price of $25.36. The firm has a market cap of $4.48 billion, a PE ratio of 11.28, a price-to-earnings-growth ratio of 2.85 and a beta of 1.98.

Magnolia Oil & Gas Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Friday, February 14th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 2.63%. The ex-dividend date of this dividend is Friday, February 14th. This is a positive change from Magnolia Oil & Gas’s previous quarterly dividend of $0.13. Magnolia Oil & Gas’s dividend payout ratio (DPR) is 25.74%.

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.