Stephens Investment Management Group LLC Cuts Stake in Magnolia Oil & Gas Corp $MGY

Stephens Investment Management Group LLC lessened its holdings in Magnolia Oil & Gas Corp (NYSE:MGY) by 6.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,157,166 shares of the company’s stock after selling 138,581 shares during the quarter. Stephens Investment Management Group LLC owned 1.13% of Magnolia Oil & Gas worth $51,492,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in MGY. American Century Companies Inc. grew its stake in shares of Magnolia Oil & Gas by 12.9% during the second quarter. American Century Companies Inc. now owns 11,861,231 shares of the company’s stock valued at $266,641,000 after buying an additional 1,358,878 shares during the last quarter. Boston Trust Walden Corp boosted its holdings in Magnolia Oil & Gas by 26.0% during the 2nd quarter. Boston Trust Walden Corp now owns 4,003,770 shares of the company’s stock valued at $90,005,000 after acquiring an additional 825,162 shares during the period. Pacer Advisors Inc. boosted its holdings in Magnolia Oil & Gas by 16,251.3% during the 3rd quarter. Pacer Advisors Inc. now owns 626,745 shares of the company’s stock valued at $14,960,000 after acquiring an additional 622,912 shares during the period. Kingstone Capital Partners Texas LLC bought a new position in Magnolia Oil & Gas during the 2nd quarter worth approximately $10,357,000. Finally, The Manufacturers Life Insurance Company increased its stake in Magnolia Oil & Gas by 16.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,360,238 shares of the company’s stock worth $53,058,000 after purchasing an additional 333,566 shares during the period. 94.73% of the stock is owned by institutional investors.

Magnolia Oil & Gas Stock Up 0.5%

Shares of NYSE MGY opened at $22.60 on Friday. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.20. Magnolia Oil & Gas Corp has a 12 month low of $19.09 and a 12 month high of $26.84. The firm has a market capitalization of $4.26 billion, a PE ratio of 12.63, a price-to-earnings-growth ratio of 3.43 and a beta of 0.92. The firm has a fifty day simple moving average of $22.47 and a two-hundred day simple moving average of $23.20.

Magnolia Oil & Gas (NYSE:MGY) last announced its earnings results on Wednesday, October 29th. The company reported $0.41 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.41. Magnolia Oil & Gas had a net margin of 25.90% and a return on equity of 18.10%. The firm had revenue of $324.94 million for the quarter, compared to analyst estimates of $322.52 million. During the same quarter in the previous year, the firm posted $0.52 EPS. The company’s revenue for the quarter was down 2.5% compared to the same quarter last year. Equities analysts expect that Magnolia Oil & Gas Corp will post 2.1 earnings per share for the current year.

Magnolia Oil & Gas Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Monday, November 10th were issued a dividend of $0.15 per share. The ex-dividend date was Monday, November 10th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.7%. Magnolia Oil & Gas’s dividend payout ratio is 33.52%.

Analysts Set New Price Targets

MGY has been the subject of a number of analyst reports. UBS Group reissued a “buy” rating and set a $29.00 price objective on shares of Magnolia Oil & Gas in a research note on Friday, January 9th. Citigroup raised shares of Magnolia Oil & Gas from a “neutral” rating to a “buy” rating and increased their price target for the company from $19.00 to $25.00 in a research report on Wednesday. Piper Sandler cut their price target on shares of Magnolia Oil & Gas from $25.00 to $23.00 and set a “neutral” rating on the stock in a report on Tuesday, November 18th. Bank of America raised shares of Magnolia Oil & Gas from a “neutral” rating to a “buy” rating and upped their price objective for the company from $26.00 to $28.00 in a research note on Friday. Finally, KeyCorp set a $29.00 target price on Magnolia Oil & Gas and gave the stock an “overweight” rating in a research note on Wednesday, October 15th. Eight investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $26.67.

Magnolia Oil & Gas Profile

Magnolia Oil & Gas Corp (NYSE: MGY) is an independent exploration and production company focused on the acquisition, development and optimization of onshore oil and gas assets in South Texas. Headquartered in Houston, the company concentrates its efforts on the Eagle Ford Shale, where it holds significant working interests in key producing counties.

The company’s core operations center on horizontal drilling and multi-stage completions designed to extract light crude oil, natural gas and natural gas liquids (NGLs).