Barrow Hanley Mewhinney & Strauss LLC Sells 25,877 Shares of Magnolia Oil & Gas Co. (NYSE:MGY)

Barrow Hanley Mewhinney & Strauss LLC lessened its position in Magnolia Oil & Gas Co. (NYSE:MGY) by 4.0% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 618,131 shares of the company’s stock after selling 25,877 shares during the period. Barrow Hanley Mewhinney & Strauss LLC’s holdings in Magnolia Oil & Gas were worth $14,452,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Magnolia Oil & Gas by 2.2% during the fourth quarter. Vanguard Group Inc. now owns 20,938,200 shares of the company’s stock valued at $489,535,000 after purchasing an additional 452,836 shares in the last quarter. State Street Corp increased its stake in shares of Magnolia Oil & Gas by 4.2% in the 3rd quarter. State Street Corp now owns 10,700,257 shares of the company’s stock worth $261,300,000 after purchasing an additional 435,326 shares in the last quarter. Geode Capital Management LLC lifted its position in Magnolia Oil & Gas by 2.9% during the third quarter. Geode Capital Management LLC now owns 4,107,769 shares of the company’s stock valued at $100,332,000 after purchasing an additional 116,431 shares in the last quarter. Boston Trust Walden Corp grew its holdings in Magnolia Oil & Gas by 9.5% during the fourth quarter. Boston Trust Walden Corp now owns 3,090,587 shares of the company’s stock valued at $72,258,000 after purchasing an additional 267,461 shares during the period. Finally, Systematic Financial Management LP increased its position in Magnolia Oil & Gas by 7.5% in the third quarter. Systematic Financial Management LP now owns 2,920,018 shares of the company’s stock worth $71,307,000 after buying an additional 203,514 shares in the last quarter. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Insider Transactions at Magnolia Oil & Gas

In related news, CEO Christopher G. Stavros purchased 2,500 shares of Magnolia Oil & Gas stock in a transaction that occurred on Monday, March 3rd. The shares were bought at an average price of $22.05 per share, with a total value of $55,125.00. Following the purchase, the chief executive officer now directly owns 892,372 shares of the company’s stock, valued at approximately $19,676,802.60. This represents a 0.28 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on MGY. Truist Financial boosted their price objective 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. Mizuho raised their price objective on shares of Magnolia Oil & Gas from $27.00 to $28.00 and gave the company a “neutral” rating in a research report on Monday, December 16th. Johnson Rice downgraded shares of Magnolia Oil & Gas from a “moderate buy” rating to a “hold” rating in a report on Tuesday, January 28th. Williams Trading set a $29.00 price objective on Magnolia Oil & Gas in a research report on Wednesday, March 5th. Finally, JPMorgan Chase & Co. cut their target price on Magnolia Oil & Gas from $28.00 to $24.00 and set a “neutral” rating for the company in a research report on Thursday, March 13th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Magnolia Oil & Gas has a consensus rating of “Hold” and a consensus price target of $27.77.

Magnolia Oil & Gas Stock Performance

NYSE MGY opened at $25.21 on Monday. The business’s 50 day moving average price is $24.08 and its 200-day moving average price is $25.09. Magnolia Oil & Gas Co. has a fifty-two week low of $21.63 and a fifty-two week high of $29.02. The company has a market cap of $4.89 billion, a P/E ratio of 13.06, a P/E/G ratio of 3.01 and a beta of 1.90. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.47 and a current ratio of 1.42.

Magnolia Oil & Gas (NYSE:MGY) last posted its quarterly earnings data on Tuesday, February 18th. The company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.03. Magnolia Oil & Gas had a net margin of 27.82% and a return on equity of 20.74%. The business had revenue of $326.61 million for the quarter, compared to analysts’ expectations of $327.40 million. Sell-side analysts predict that Magnolia Oil & Gas Co. will post 2.1 earnings per share for the current year.

Magnolia Oil & Gas Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were paid a dividend of $0.15 per share. This is a boost from Magnolia Oil & Gas’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.38%. Magnolia Oil & Gas’s dividend payout ratio is currently 31.09%.

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.