Vest Financial LLC Lowers Stock Holdings in Magnolia Oil & Gas Co. (NYSE:MGY)

Vest Financial LLC lowered its stake in Magnolia Oil & Gas Co. (NYSE:MGY) by 93.9% during the first quarter, according to the company in its most recent disclosure with the Securities and 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 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

MGY has been the subject of a number of recent analyst reports. UBS Group began coverage on Magnolia Oil & Gas in a report on Tuesday, April 22nd. They issued a “buy” rating and a $26.00 target price for the company. Bank of America increased their price target on shares of Magnolia Oil & Gas from $23.00 to $25.00 and gave the company a “neutral” rating in a report on Friday, May 23rd. Susquehanna decreased their price objective on shares of Magnolia Oil & Gas from $31.00 to $30.00 and set a “positive” rating on the stock in a report on Tuesday, April 22nd. Piper Sandler lowered their target price on shares of Magnolia Oil & Gas from $25.00 to $24.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 13th. Finally, Williams Trading set a $29.00 price target on shares of Magnolia Oil & Gas in a research report on Wednesday, March 5th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $26.93.

Magnolia Oil & Gas Stock Up 2.8%

MGY stock opened at $22.75 on Friday. 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 company’s 50 day simple moving average is $21.60 and its 200-day simple moving average is $23.59. Magnolia Oil & Gas Co. has a 12 month low of $19.09 and a 12 month high of $29.02. The firm has a market capitalization of $4.38 billion, a PE ratio of 11.78, a P/E/G ratio of 3.01 and a beta of 1.29.

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

Magnolia Oil & Gas Dividend Announcement

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

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.