Stifel Financial Corp Decreases Stock Holdings in Magnolia Oil & Gas Co. (NYSE:MGY)

Stifel Financial Corp reduced its position in Magnolia Oil & Gas Co. (NYSE:MGY) by 13.8% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 29,869 shares of the company’s stock after selling 4,774 shares during the period. Stifel Financial Corp’s holdings in Magnolia Oil & Gas were worth $729,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. FMR LLC grew its stake in Magnolia Oil & Gas by 174.9% during the 3rd quarter. FMR LLC now owns 34,851 shares of the company’s stock worth $851,000 after buying an additional 22,171 shares during the last quarter. Oliver Luxxe Assets LLC grew its stake in shares of Magnolia Oil & Gas by 80.6% during the third quarter. Oliver Luxxe Assets LLC now owns 87,624 shares of the company’s stock worth $2,140,000 after acquiring an additional 39,098 shares during the last quarter. Ensign Peak Advisors Inc increased its holdings in shares of Magnolia Oil & Gas by 5.6% during the second quarter. Ensign Peak Advisors Inc now owns 68,919 shares of the company’s stock valued at $1,746,000 after acquiring an additional 3,630 shares in the last quarter. Intech Investment Management LLC acquired a new position in shares of Magnolia Oil & Gas during the third quarter valued at about $1,252,000. Finally, Bank of New York Mellon Corp raised its position in shares of Magnolia Oil & Gas by 1.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,976,184 shares of the company’s stock valued at $50,077,000 after purchasing an additional 36,018 shares during the last quarter. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Analyst Upgrades and Downgrades

MGY has been the topic of several research analyst reports. Wells Fargo & Company downgraded shares of Magnolia Oil & Gas from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $26.00 to $22.00 in a research report on Tuesday, October 1st. Truist Financial upped their target price on Magnolia Oil & Gas from $31.00 to $33.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Benchmark reaffirmed a “hold” rating on shares of Magnolia Oil & Gas in a research report on Tuesday, October 15th. Susquehanna dropped their price target on Magnolia Oil & Gas from $33.00 to $32.00 and set a “positive” rating on the stock in a research note on Wednesday, September 4th. Finally, Siebert Williams Shank cut Magnolia Oil & Gas from a “buy” rating to a “hold” rating and set a $30.00 price objective for the company. in a research note on Tuesday, October 15th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $27.58.

Magnolia Oil & Gas Stock Up 1.1 %

Shares of MGY stock opened at $23.24 on Thursday. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.20. The stock has a market cap of $4.57 billion, a P/E ratio of 11.51, a P/E/G ratio of 1.29 and a beta of 1.99. The stock has a 50 day moving average of $26.18 and a 200 day moving average of $25.59. Magnolia Oil & Gas Co. has a twelve month low of $19.16 and a twelve month high of $29.02.

Magnolia Oil & Gas (NYSE:MGY) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.48 by $0.04. The company had revenue of $333.14 million for the quarter, compared to analyst estimates of $331.45 million. Magnolia Oil & Gas had a net margin of 28.88% and a return on equity of 20.78%. As a group, sell-side analysts expect that Magnolia Oil & Gas Co. will post 2 EPS for the current year.

Magnolia Oil & Gas Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Friday, November 8th were paid a $0.13 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $0.52 dividend on an annualized basis and a yield of 2.24%. Magnolia Oil & Gas’s dividend payout ratio is currently 25.74%.

About Magnolia Oil & Gas

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.