Magnolia Oil & Gas Co. (NYSE:MGY) Stock Position Lowered by Vanguard Group Inc.

Vanguard Group Inc. lessened its position in Magnolia Oil & Gas Co. (NYSE:MGY) by 0.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 17,801,055 shares of the company’s stock after selling 28,621 shares during the period. Vanguard Group Inc. owned approximately 8.71% of Magnolia Oil & Gas worth $378,984,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of MGY. First Trust Advisors LP raised its position in shares of Magnolia Oil & Gas by 20.2% during the fourth quarter. First Trust Advisors LP now owns 10,126,891 shares of the company’s stock worth $215,602,000 after purchasing an additional 1,704,982 shares during the period. Victory Capital Management Inc. raised its position in shares of Magnolia Oil & Gas by 2.1% during the fourth quarter. Victory Capital Management Inc. now owns 6,162,526 shares of the company’s stock worth $131,200,000 after purchasing an additional 128,097 shares during the period. American Century Companies Inc. raised its position in shares of Magnolia Oil & Gas by 24.7% during the third quarter. American Century Companies Inc. now owns 6,009,953 shares of the company’s stock worth $137,688,000 after purchasing an additional 1,188,536 shares during the period. Wasatch Advisors LP raised its position in shares of Magnolia Oil & Gas by 2.2% during the fourth quarter. Wasatch Advisors LP now owns 3,679,262 shares of the company’s stock worth $78,331,000 after purchasing an additional 77,733 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in shares of Magnolia Oil & Gas by 7.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,506,042 shares of the company’s stock worth $74,647,000 after purchasing an additional 257,806 shares during the period. Institutional investors own 94.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Susquehanna boosted their target price on Magnolia Oil & Gas from $28.00 to $31.00 and gave the stock a “positive” rating in a research report on Monday, April 22nd. Capital One Financial initiated coverage on Magnolia Oil & Gas in a research report on Tuesday, June 11th. They set an “overweight” rating and a $28.00 target price on the stock. The Goldman Sachs Group upped their price target on Magnolia Oil & Gas from $24.50 to $28.00 and gave the company a “buy” rating in a research report on Tuesday, March 26th. Wells Fargo & Company upped their price target on Magnolia Oil & Gas from $23.00 to $27.00 and gave the company an “equal weight” rating in a research report on Thursday, April 18th. Finally, Citigroup upped their price target on Magnolia Oil & Gas from $18.00 to $22.00 and gave the company a “sell” rating in a research report on Monday, April 15th. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Magnolia Oil & Gas currently has an average rating of “Hold” and a consensus price target of $28.11.

Insider Transactions at Magnolia Oil & Gas

In other news, Director John B. Walker sold 12,000,000 shares of the company’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $25.58, for a total transaction of $306,960,000.00. Following the completion of the sale, the director now owns 4,164,961 shares in the company, valued at approximately $106,539,702.38. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.20% of the stock is currently owned by corporate insiders.

Magnolia Oil & Gas Stock Performance

Shares of NYSE MGY opened at $25.27 on Friday. The business’s 50-day moving average price is $25.23 and its two-hundred day moving average price is $23.48. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.71 and a quick ratio of 1.71. Magnolia Oil & Gas Co. has a one year low of $19.16 and a one year high of $27.33. The company has a market capitalization of $5.12 billion, a P/E ratio of 12.57, a price-to-earnings-growth ratio of 1.42 and a beta of 2.00.

Magnolia Oil & Gas (NYSE:MGY) last issued its earnings results on Tuesday, May 7th. The company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.05. Magnolia Oil & Gas had a return on equity of 20.41% and a net margin of 30.46%. The firm had revenue of $319.42 million for the quarter, compared to the consensus estimate of $308.21 million. Analysts anticipate that Magnolia Oil & Gas Co. will post 2.25 earnings per share for the current fiscal year.

Magnolia Oil & Gas Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Monday, May 13th were paid a $0.13 dividend. The ex-dividend date of this dividend was Friday, May 10th. This represents a $0.52 dividend on an annualized basis and a yield of 2.06%. Magnolia Oil & Gas’s dividend payout ratio (DPR) is currently 25.87%.

Magnolia Oil & Gas Company Profile

Magnolia Oil & Gas Corporation, an independent oil and natural gas company, engages in the acquisition, development, exploration, and production of oil, natural gas, and natural gas liquids reserves in the United States. Its properties are located primarily in Karnes County and the Giddings area in South Texas principally comprising the Eagle Ford Shale and the Austin Chalk formation.