Magnolia Oil & Gas Co. (NYSE:MGY) Shares Sold by Vest Financial LLC

Vest Financial LLC lessened its stake in shares of Magnolia Oil & Gas Co. (NYSE:MGY) by 93.9% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 93,111 shares of the company’s stock after selling 1,427,893 shares during the period. Vest Financial LLC’s holdings in Magnolia Oil & Gas were worth $2,352,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Mather Group LLC. grew its position in Magnolia Oil & Gas by 100.0% in the fourth quarter. Mather Group LLC. now owns 1,090 shares of the company’s stock worth $25,000 after acquiring an additional 545 shares during the period. Larson Financial Group LLC grew its holdings in shares of Magnolia Oil & Gas by 112.3% during the 4th quarter. Larson Financial Group LLC now owns 1,072 shares of the company’s stock worth $25,000 after purchasing an additional 567 shares during the period. Quarry LP increased its position in shares of Magnolia Oil & Gas by 1,047.8% during the 4th quarter. Quarry LP now owns 2,135 shares of the company’s stock worth $50,000 after purchasing an additional 1,949 shares during the last quarter. Parallel Advisors LLC raised its holdings in Magnolia Oil & Gas by 122.8% in the 1st quarter. Parallel Advisors LLC now owns 2,308 shares of the company’s stock valued at $58,000 after buying an additional 1,272 shares during the period. Finally, Smartleaf Asset Management LLC raised its holdings in Magnolia Oil & Gas by 95.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 3,777 shares of the company’s stock valued at $88,000 after buying an additional 1,844 shares during the period. Institutional investors and hedge funds own 94.73% of the company’s stock.

Magnolia Oil & Gas Stock Up 2.8%

Magnolia Oil & Gas stock opened at $22.75 on Friday. Magnolia Oil & Gas Co. has a 1-year low of $19.09 and a 1-year high of $29.02. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.42 and a quick ratio of 1.47. The stock has a market cap of $4.38 billion, a PE ratio of 11.78, a P/E/G ratio of 3.01 and a beta of 1.29. The stock’s fifty day moving average is $21.60 and its two-hundred day moving average is $23.59.

Magnolia Oil & Gas (NYSE:MGY) last released its quarterly earnings data on Wednesday, April 30th. The company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.02. Magnolia Oil & Gas had a return on equity of 20.74% and a net margin of 27.82%. The business had revenue of $350.30 million for the quarter, compared to the consensus estimate of $337.83 million. During the same quarter in the prior year, the business posted $0.46 EPS. The business’s revenue for the quarter was up 9.7% on a year-over-year basis. On average, sell-side analysts expect that Magnolia Oil & Gas Co. will post 2.1 EPS for the current fiscal year.

Magnolia Oil & Gas Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 12th were paid a $0.15 dividend. The ex-dividend date of this dividend was Monday, May 12th. This represents a $0.60 annualized dividend and a yield of 2.64%. Magnolia Oil & Gas’s dividend payout ratio is currently 29.85%.

Analyst Ratings Changes

A number of research analysts have commented on MGY shares. UBS Group assumed coverage on Magnolia Oil & Gas in a research note on Tuesday, April 22nd. They set a “buy” rating and a $26.00 price target on the stock. Piper Sandler dropped their price objective on shares of Magnolia Oil & Gas from $25.00 to $24.00 and set a “neutral” rating for the company in a report on Tuesday, May 13th. JPMorgan Chase & Co. decreased their price target on shares of 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. Susquehanna dropped their price target on shares of Magnolia Oil & Gas from $31.00 to $30.00 and set a “positive” rating for the company in a research note on Tuesday, April 22nd. Finally, Citigroup reduced their price objective on Magnolia Oil & Gas from $22.00 to $19.00 and set a “sell” rating on the stock in a research note on Tuesday, April 8th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $26.93.

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.