Cambiar Investors LLC Sells 64,042 Shares of Magnolia Oil & Gas Co. (NYSE:MGY)

Cambiar Investors LLC decreased its position in shares of Magnolia Oil & Gas Co. (NYSE:MGY) by 10.3% during the 4th quarter, Holdings Channel reports. The institutional investor owned 558,688 shares of the company’s stock after selling 64,042 shares during the quarter. Cambiar Investors LLC’s holdings in Magnolia Oil & Gas were worth $13,062,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in MGY. FMR LLC increased its position in shares of Magnolia Oil & Gas by 174.9% in the third quarter. FMR LLC now owns 34,851 shares of the company’s stock worth $851,000 after purchasing an additional 22,171 shares during the period. Oliver Luxxe Assets LLC increased its position in shares of Magnolia Oil & Gas by 80.6% in the third quarter. Oliver Luxxe Assets LLC now owns 87,624 shares of the company’s stock worth $2,140,000 after purchasing an additional 39,098 shares during the period. HighTower Advisors LLC bought a new position in shares of Magnolia Oil & Gas in the third quarter worth $353,000. Intech Investment Management LLC bought a new position in shares of Magnolia Oil & Gas in the third quarter worth $1,252,000. Finally, Citigroup Inc. increased its position in shares of Magnolia Oil & Gas by 30.6% in the third quarter. Citigroup Inc. now owns 313,778 shares of the company’s stock worth $7,662,000 after purchasing an additional 73,431 shares during the period. Institutional investors own 94.73% of the company’s stock.

Wall Street Analyst Weigh In

MGY has been the topic of a number of recent analyst reports. Piper Sandler raised their price target on Magnolia Oil & Gas from $24.00 to $26.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Benchmark restated a “hold” rating on shares of Magnolia Oil & Gas in a research report on Tuesday, October 15th. Johnson Rice cut Magnolia Oil & Gas from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, January 28th. Mizuho raised their price objective on Magnolia Oil & Gas from $27.00 to $28.00 and gave the company a “neutral” rating in a research note on Monday, December 16th. Finally, Bank of America reaffirmed a “neutral” rating and issued a $28.00 price objective (down from $29.00) on shares of Magnolia Oil & Gas in a research note on Monday, January 13th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $27.58.

Magnolia Oil & Gas Stock Performance

Shares of MGY stock opened at $23.72 on Tuesday. The business’s 50-day moving average price is $24.71 and its 200-day moving average price is $25.35. Magnolia Oil & Gas Co. has a 12 month low of $20.08 and a 12 month high of $29.02. The firm has a market capitalization of $4.66 billion, a price-to-earnings ratio of 11.74, a PEG ratio of 2.85 and a beta of 1.98. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.20.

Magnolia Oil & Gas Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Friday, February 14th will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.53%. This is a positive change from Magnolia Oil & Gas’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Friday, February 14th. Magnolia Oil & Gas’s dividend payout ratio (DPR) is presently 25.74%.

About Magnolia Oil & Gas

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.