Janus Henderson Group PLC Sells 566,538 Shares of Magnolia Oil & Gas Co. (NYSE:MGY)

Janus Henderson Group PLC decreased its stake in shares of Magnolia Oil & Gas Co. (NYSE:MGY) by 9.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,728,902 shares of the company’s stock after selling 566,538 shares during the period. Janus Henderson Group PLC’s holdings in Magnolia Oil & Gas were worth $139,901,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. HighTower Advisors LLC bought a new stake in shares of Magnolia Oil & Gas during the 3rd quarter valued at about $353,000. Holocene Advisors LP boosted its stake in shares of Magnolia Oil & Gas by 27.5% during the 3rd quarter. Holocene Advisors LP now owns 131,852 shares of the company’s stock valued at $3,220,000 after purchasing an additional 28,423 shares in the last quarter. Centiva Capital LP boosted its stake in shares of Magnolia Oil & Gas by 767.6% during the 3rd quarter. Centiva Capital LP now owns 487,148 shares of the company’s stock valued at $11,896,000 after purchasing an additional 430,996 shares in the last quarter. Edgestream Partners L.P. purchased a new position in Magnolia Oil & Gas during the 3rd quarter valued at about $5,053,000. Finally, Verition Fund Management LLC lifted its position in Magnolia Oil & Gas by 11.5% during the 3rd quarter. Verition Fund Management LLC now owns 84,864 shares of the company’s stock valued at $2,072,000 after acquiring an additional 8,724 shares during the period. Institutional investors own 94.73% of the company’s stock.

Magnolia Oil & Gas Stock Down 3.3 %

MGY opened at $26.54 on Thursday. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.20. The firm has a 50 day moving average price of $26.50 and a 200-day moving average price of $25.62. Magnolia Oil & Gas Co. has a twelve month low of $19.16 and a twelve month high of $29.02. The stock has a market capitalization of $5.22 billion, a price-to-earnings ratio of 13.14, a PEG ratio of 1.39 and a beta of 1.99.

Magnolia Oil & Gas (NYSE:MGY) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.04. Magnolia Oil & Gas had a net margin of 28.88% and a return on equity of 20.78%. The firm had revenue of $333.14 million during the quarter, compared to analysts’ expectations of $331.45 million. Equities research analysts forecast that Magnolia Oil & Gas Co. will post 1.99 earnings per share for the current year.

Magnolia Oil & Gas Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Friday, November 8th were issued a dividend of $0.13 per share. The ex-dividend date was Friday, November 8th. This represents a $0.52 annualized dividend and a dividend yield of 1.96%. Magnolia Oil & Gas’s payout ratio is 25.74%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on MGY. Truist Financial lifted their price target on shares of Magnolia Oil & Gas from $31.00 to $33.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Wells Fargo & Company cut shares of Magnolia Oil & Gas from an “equal weight” rating to an “underweight” rating and lowered their price target for the company from $26.00 to $22.00 in a research report on Tuesday, October 1st. Piper Sandler lowered their price target on shares of Magnolia Oil & Gas from $29.00 to $26.00 and set a “neutral” rating for the company in a research report on Thursday, August 15th. Susquehanna lowered their price target on shares of Magnolia Oil & Gas from $33.00 to $32.00 and set a “positive” rating for the company in a research report on Wednesday, September 4th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Magnolia Oil & Gas from $26.00 to $23.00 and set a “neutral” rating for the company in a research report on Thursday, September 12th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $27.67.

Insider Activity at Magnolia Oil & Gas

In related news, Director Ltd. Enervest sold 7,000,000 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $25.86, for a total transaction of $181,020,000.00. Following the completion of the sale, the director now directly owns 2,099,403 shares in the company, valued at approximately $54,290,561.58. The trade was a 76.93 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.20% of the stock is currently owned by company insiders.

About Magnolia Oil & Gas

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.