Vanguard Group Inc. Cuts Holdings in Magnolia Oil & Gas Corp $MGY

Vanguard Group Inc. reduced its position in shares of Magnolia Oil & Gas Corp (NYSE:MGY) by 1.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,875,856 shares of the company’s stock after selling 382,051 shares during the quarter. Vanguard Group Inc. owned 0.10% of Magnolia Oil & Gas worth $474,437,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. AQR Capital Management LLC boosted its position in Magnolia Oil & Gas by 77.7% during the first quarter. AQR Capital Management LLC now owns 56,346 shares of the company’s stock worth $1,423,000 after purchasing an additional 24,631 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Magnolia Oil & Gas by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 103,109 shares of the company’s stock valued at $2,605,000 after buying an additional 4,512 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Magnolia Oil & Gas by 8.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 242,880 shares of the company’s stock valued at $6,135,000 after acquiring an additional 18,447 shares during the period. Intech Investment Management LLC increased its holdings in Magnolia Oil & Gas by 11.3% in the 1st quarter. Intech Investment Management LLC now owns 68,814 shares of the company’s stock worth $1,738,000 after acquiring an additional 7,008 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D raised its position in Magnolia Oil & Gas by 7.7% during the second quarter. State of New Jersey Common Pension Fund D now owns 86,755 shares of the company’s stock worth $1,950,000 after acquiring an additional 6,184 shares during the period. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Mizuho set a $30.00 target price on shares of Magnolia Oil & Gas in a research report on Friday, February 6th. BMO Capital Markets assumed coverage on Magnolia Oil & Gas in a research note on Friday, January 9th. They set an “outperform” rating and a $27.00 price objective for the company. Susquehanna decreased their target price on Magnolia Oil & Gas from $30.00 to $28.00 and set a “positive” rating on the stock in a research report on Monday, January 26th. KeyCorp boosted their price target on Magnolia Oil & Gas from $29.00 to $30.00 and gave the stock an “overweight” rating in a research report on Monday, February 9th. Finally, Citigroup raised their price objective on Magnolia Oil & Gas from $25.00 to $29.00 and gave the company a “neutral” rating in a report on Wednesday, February 18th. Eight investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $27.58.

Magnolia Oil & Gas Stock Performance

Shares of Magnolia Oil & Gas stock opened at $27.03 on Thursday. The business’s 50 day moving average price is $24.10 and its 200 day moving average price is $23.63. The company has a market cap of $5.04 billion, a price-to-earnings ratio of 15.71 and a beta of 0.96. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.54 and a current ratio of 1.54. Magnolia Oil & Gas Corp has a one year low of $19.09 and a one year high of $27.52.

Magnolia Oil & Gas (NYSE:MGY) last posted its quarterly earnings results on Thursday, February 5th. The company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.36 by $0.01. Magnolia Oil & Gas had a return on equity of 16.67% and a net margin of 24.79%.The business had revenue of $317.63 million for the quarter, compared to analyst estimates of $322.18 million. During the same quarter in the previous year, the firm earned $0.44 EPS. The company’s quarterly revenue was down 2.8% compared to the same quarter last year. On average, research analysts predict that Magnolia Oil & Gas Corp will post 2.1 EPS for the current year.

Magnolia Oil & Gas Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 2nd. Stockholders of record on Tuesday, February 10th will be paid a $0.165 dividend. This is a positive change from Magnolia Oil & Gas’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Tuesday, February 10th. This represents a $0.66 annualized dividend and a dividend yield of 2.4%. Magnolia Oil & Gas’s dividend payout ratio is currently 38.37%.

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).