Clearbridge Investments LLC Has $19.61 Million Stock Holdings in Magnolia Oil & Gas Co. (NYSE:MGY)

Clearbridge Investments LLC lessened its position in shares of Magnolia Oil & Gas Co. (NYSE:MGY – Get Rating) by 1.2% during the 4th quarter, HoldingsChannel reports. The fund owned 836,363 shares of the company’s stock after selling 10,364 shares during the quarter. Clearbridge Investments LLC’s holdings in Magnolia Oil & Gas were worth $19,613,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. CI Investments Inc. acquired a new position in shares of Magnolia Oil & Gas during the fourth quarter valued at $31,000. Trifecta Capital Advisors LLC acquired a new position in Magnolia Oil & Gas in the fourth quarter valued at about $71,000. Rockefeller Capital Management L.P. lifted its stake in Magnolia Oil & Gas by 65.1% in the third quarter. Rockefeller Capital Management L.P. now owns 3,648 shares of the company’s stock valued at $72,000 after buying an additional 1,439 shares during the period. Captrust Financial Advisors lifted its stake in Magnolia Oil & Gas by 42.4% in the first quarter. Captrust Financial Advisors now owns 3,608 shares of the company’s stock valued at $85,000 after buying an additional 1,075 shares during the period. Finally, Signaturefd LLC lifted its stake in Magnolia Oil & Gas by 72.9% in the third quarter. Signaturefd LLC now owns 4,709 shares of the company’s stock valued at $93,000 after buying an additional 1,986 shares during the period. Institutional investors and hedge funds own 98.60% of the company’s stock.

Magnolia Oil & Gas Stock Down 3.2 %

NYSE:MGY opened at $19.85 on Friday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.64 and a current ratio of 2.64. The company has a market cap of $4.21 billion, a PE ratio of 4.61 and a beta of 2.15. Magnolia Oil & Gas Co. has a 52-week low of $18.01 and a 52-week high of $30.31. The stock has a 50-day simple moving average of $21.02 and a 200 day simple moving average of $22.61.

Magnolia Oil & Gas Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 1st. Investors of record on Thursday, May 11th will be issued a dividend of $0.115 per share. The ex-dividend date of this dividend is Wednesday, May 10th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 2.32%. Magnolia Oil & Gas’s payout ratio is presently 10.67%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Mizuho cut their target price on Magnolia Oil & Gas from $29.00 to $28.00 in a research note on Friday, May 19th. Truist Financial dropped their price target on Magnolia Oil & Gas from $36.00 to $33.00 in a research report on Friday, May 5th. SpectralCast reaffirmed a “maintains” rating on shares of Magnolia Oil & Gas in a research report on Monday. Roth Capital reaffirmed a “buy” rating on shares of Magnolia Oil & Gas in a research report on Tuesday, February 14th. Finally, Citigroup dropped their price target on Magnolia Oil & Gas from $25.00 to $22.00 in a research report on Sunday, May 21st. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Magnolia Oil & Gas currently has a consensus rating of “Moderate Buy” and a consensus target price of $28.88.

Magnolia Oil & Gas Company Profile

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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.