Janus Henderson Group PLC Lowers Stake in Magnolia Oil & Gas Co. (NYSE:MGY)

Janus Henderson Group PLC cut its stake in Magnolia Oil & Gas Co. (NYSE:MGY) by 1.3% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,397,443 shares of the company’s stock after selling 84,289 shares during the period. Janus Henderson Group PLC owned about 3.13% of Magnolia Oil & Gas worth $166,013,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mather Group LLC. bought a new stake in Magnolia Oil & Gas during the first quarter worth about $27,000. Private Wealth Management Group LLC purchased a new position in shares of Magnolia Oil & Gas during the 4th quarter valued at about $33,000. Lindbrook Capital LLC lifted its position in Magnolia Oil & Gas by 61.5% in the 1st quarter. Lindbrook Capital LLC now owns 1,647 shares of the company’s stock worth $43,000 after buying an additional 627 shares during the last quarter. Fidelis Capital Partners LLC bought a new stake in Magnolia Oil & Gas in the 1st quarter worth approximately $50,000. Finally, Quadrant Capital Group LLC boosted its stake in Magnolia Oil & Gas by 40.4% in the fourth quarter. Quadrant Capital Group LLC now owns 4,623 shares of the company’s stock worth $98,000 after buying an additional 1,331 shares in the last quarter. 94.73% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Magnolia Oil & Gas news, Director John B. Walker sold 12,000,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $25.58, for a total transaction of $306,960,000.00. Following the transaction, the director now owns 4,164,961 shares in the company, valued at approximately $106,539,702.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.20% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have commented on MGY. Mizuho lifted their price target on shares of Magnolia Oil & Gas from $26.00 to $28.00 and gave the stock a “neutral” rating in a research note on Monday, May 13th. Wolfe Research began coverage on shares of Magnolia Oil & Gas in a research note on Thursday, July 18th. They issued an “outperform” rating and a $32.00 price target for the company. Capital One Financial began coverage on shares of Magnolia Oil & Gas in a research report on Tuesday, June 11th. They set an “overweight” rating and a $28.00 price target for the company. Benchmark reiterated a “hold” rating on shares of Magnolia Oil & Gas in a report on Thursday, July 18th. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $29.00 price target on shares of Magnolia Oil & Gas in a research note on Friday, April 19th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Magnolia Oil & Gas presently has a consensus rating of “Hold” and an average target price of $29.00.

Magnolia Oil & Gas Trading Up 0.9 %

Shares of MGY traded up $0.23 during mid-day trading on Tuesday, hitting $26.59. 1,784,291 shares of the company’s stock traded hands, compared to its average volume of 2,759,992. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $5.39 billion, a P/E ratio of 13.11, a PEG ratio of 0.99 and a beta of 2.02. The business’s 50-day moving average price is $25.41 and its 200-day moving average price is $24.26. Magnolia Oil & Gas Co. has a 1 year low of $19.16 and a 1 year high of $27.62.

Magnolia Oil & Gas (NYSE:MGY) last issued its quarterly earnings data on Tuesday, May 7th. The company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.05. Magnolia Oil & Gas had a net margin of 30.46% and a return on equity of 20.41%. The business had revenue of $319.42 million for the quarter, compared to the consensus estimate of $308.21 million. As a group, sell-side analysts forecast that Magnolia Oil & Gas Co. will post 2.2 EPS for the current fiscal year.

Magnolia Oil & Gas Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Friday, August 9th will be paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date is Friday, August 9th. Magnolia Oil & Gas’s payout ratio is currently 25.87%.

Magnolia Oil & Gas Company Profile

Magnolia Oil & Gas Corporation, an independent oil and natural gas company, engages in the acquisition, development, exploration, and production of oil, natural gas, and natural gas liquids reserves in the United States. Its properties are located primarily in Karnes County and the Giddings area in South Texas principally comprising the Eagle Ford Shale and the Austin Chalk formation.