Legal & General Group Plc Has $9.56 Million Stake in Magnolia Oil & Gas Corp $MGY

Legal & General Group Plc decreased its holdings in Magnolia Oil & Gas Corp (NYSE:MGY) by 5.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 436,753 shares of the company’s stock after selling 26,434 shares during the quarter. Legal & General Group Plc owned 0.23% of Magnolia Oil & Gas worth $9,561,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Oak Family Advisors LLC raised its position in shares of Magnolia Oil & Gas by 0.9% in the 4th quarter. Oak Family Advisors LLC now owns 47,620 shares of the company’s stock valued at $1,042,000 after buying an additional 410 shares in the last quarter. GAMMA Investing LLC increased its position in Magnolia Oil & Gas by 8.0% during the 4th quarter. GAMMA Investing LLC now owns 6,130 shares of the company’s stock worth $134,000 after purchasing an additional 453 shares in the last quarter. Coldstream Capital Management Inc. increased its position in Magnolia Oil & Gas by 3.1% during the 3rd quarter. Coldstream Capital Management Inc. now owns 15,937 shares of the company’s stock worth $380,000 after purchasing an additional 482 shares in the last quarter. Lazard Asset Management LLC increased its position in Magnolia Oil & Gas by 0.4% during the 2nd quarter. Lazard Asset Management LLC now owns 167,071 shares of the company’s stock worth $3,755,000 after purchasing an additional 671 shares in the last quarter. Finally, Smartleaf Asset Management LLC increased its position in Magnolia Oil & Gas by 19.7% during the 3rd quarter. Smartleaf Asset Management LLC now owns 4,202 shares of the company’s stock worth $102,000 after purchasing an additional 691 shares in the last quarter. Institutional investors and hedge funds own 94.73% of the company’s stock.

Magnolia Oil & Gas Trading Up 1.0%

NYSE:MGY opened at $28.25 on Friday. The firm’s fifty day moving average is $29.40 and its 200-day moving average is $26.46. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.10 and a current ratio of 1.10. Magnolia Oil & Gas Corp has a 52 week low of $21.07 and a 52 week high of $32.76. The firm has a market cap of $5.23 billion, a P/E ratio of 16.43 and a beta of 0.71.

Magnolia Oil & Gas (NYSE:MGY) last issued its earnings results on Wednesday, May 6th. The company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.03. Magnolia Oil & Gas had a net margin of 24.40% and a return on equity of 16.28%. The business had revenue of $358.51 million for the quarter, compared to analyst estimates of $349.89 million. During the same period in the prior year, the firm earned $0.54 earnings per share. Magnolia Oil & Gas’s revenue was up 2.3% on a year-over-year basis. Equities analysts expect that Magnolia Oil & Gas Corp will post 2.85 earnings per share for the current year.

Magnolia Oil & Gas Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Tuesday, May 12th were issued a $0.165 dividend. The ex-dividend date was Tuesday, May 12th. This represents a $0.66 annualized dividend and a dividend yield of 2.3%. Magnolia Oil & Gas’s dividend payout ratio is currently 38.37%.

Insider Buying and Selling

In other news, EVP Timothy D. Yang sold 150,000 shares of the stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $29.29, for a total value of $4,393,500.00. Following the completion of the sale, the executive vice president owned 526,661 shares in the company, valued at $15,425,900.69. This represents a 22.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Christopher G. Stavros sold 119,954 shares of the stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $29.29, for a total transaction of $3,513,452.66. Following the transaction, the chief executive officer owned 883,592 shares of the company’s stock, valued at approximately $25,880,409.68. The trade was a 11.95% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 338,954 shares of company stock valued at $9,911,733 over the last 90 days. 0.92% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

MGY has been the subject of a number of research analyst reports. Citigroup lowered their price objective on shares of Magnolia Oil & Gas from $35.00 to $32.00 and set a “neutral” rating for the company in a research report on Monday, April 13th. Roth Mkm reiterated a “neutral” rating and set a $32.00 price objective (up from $29.00) on shares of Magnolia Oil & Gas in a research report on Wednesday, April 8th. UBS Group upped their price objective on shares of Magnolia Oil & Gas from $29.00 to $35.00 and gave the stock a “buy” rating in a research report on Thursday, March 5th. Mizuho upped their price objective on shares of Magnolia Oil & Gas from $33.00 to $35.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 27th. Finally, Siebert Williams Shank cut shares of Magnolia Oil & Gas from a “buy” rating to a “hold” rating in a research report on Friday, March 6th. Seven equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat, Magnolia Oil & Gas presently has a consensus rating of “Hold” and a consensus target price of $31.42.

Magnolia Oil & Gas Company Profile

Magnolia Oil & Gas Corp (NYSE: MGY) is an independent exploration and production company focused on the acquisition, development and optimization of onshore oil and gas assets in South Texas. Headquartered in Houston, the company concentrates its efforts on the Eagle Ford Shale, where it holds significant working interests in key producing counties.

The company’s core operations center on horizontal drilling and multi-stage completions designed to extract light crude oil, natural gas and natural gas liquids (NGLs).