Vanguard Group Inc. Sells 28,621 Shares of Magnolia Oil & Gas Co. (NYSE:MGY)

Vanguard Group Inc. cut its holdings in Magnolia Oil & Gas Co. (NYSE:MGY) by 0.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 17,801,055 shares of the company’s stock after selling 28,621 shares during the period. Vanguard Group Inc. owned 0.09% of Magnolia Oil & Gas worth $378,984,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Albert D Mason Inc. boosted its holdings in Magnolia Oil & Gas by 1.6% in the 4th quarter. Albert D Mason Inc. now owns 31,094 shares of the company’s stock worth $662,000 after buying an additional 490 shares during the period. Envestnet Portfolio Solutions Inc. boosted its holdings in Magnolia Oil & Gas by 5.9% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 13,156 shares of the company’s stock valued at $280,000 after purchasing an additional 730 shares during the period. VisionPoint Advisory Group LLC boosted its holdings in Magnolia Oil & Gas by 112.3% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 1,537 shares of the company’s stock valued at $35,000 after purchasing an additional 813 shares during the period. Commerce Bank boosted its holdings in Magnolia Oil & Gas by 4.0% in the 4th quarter. Commerce Bank now owns 24,820 shares of the company’s stock valued at $528,000 after purchasing an additional 945 shares during the period. Finally, Signaturefd LLC boosted its holdings in Magnolia Oil & Gas by 11.9% in the 4th quarter. Signaturefd LLC now owns 9,313 shares of the company’s stock valued at $198,000 after purchasing an additional 988 shares during the period. 94.73% of the stock is owned by institutional investors.

Magnolia Oil & Gas Stock Performance

Magnolia Oil & Gas stock opened at $25.27 on Friday. The firm has a fifty day simple moving average of $25.23 and a two-hundred day simple moving average of $23.48. Magnolia Oil & Gas Co. has a twelve month low of $19.16 and a twelve month high of $27.33. The company has a market capitalization of $5.12 billion, a PE ratio of 12.57, a P/E/G ratio of 1.42 and a beta of 2.00. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 0.21.

Magnolia Oil & Gas (NYSE:MGY) last issued its earnings results on Tuesday, May 7th. The company reported $0.49 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $319.42 million during the quarter, compared to analysts’ expectations of $308.21 million. Research analysts expect that Magnolia Oil & Gas Co. will post 2.25 EPS for the current year.

Magnolia Oil & Gas Announces Dividend

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

Insider Buying and Selling

In related news, Director John B. Walker sold 12,000,000 shares of Magnolia Oil & Gas stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $25.58, for a total value of $306,960,000.00. Following the transaction, the director now directly owns 4,164,961 shares of the company’s stock, valued at $106,539,702.38. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.20% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts have commented on MGY shares. Piper Sandler reissued a “neutral” rating and issued a $29.00 price target on shares of Magnolia Oil & Gas in a report on Friday, April 19th. Truist Financial raised their price target on shares of Magnolia Oil & Gas from $33.00 to $35.00 and gave the company a “buy” rating in a report on Friday, May 31st. Benchmark restated a “hold” rating on shares of Magnolia Oil & Gas in a research report on Tuesday, April 23rd. Mizuho raised their price objective on shares of Magnolia Oil & Gas from $26.00 to $28.00 and gave the company a “neutral” rating in a research report on Monday, May 13th. Finally, Wells Fargo & Company raised their price objective on shares of 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. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $28.11.

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.