Victory Capital Management Inc. Sells 760,641 Shares of Magnolia Oil & Gas Co. (NYSE:MGY)

Victory Capital Management Inc. decreased its position in Magnolia Oil & Gas Co. (NYSE:MGY) by 12.0% in the second quarter, Holdings Channel reports. The firm owned 5,573,243 shares of the company’s stock after selling 760,641 shares during the period. Victory Capital Management Inc.’s holdings in Magnolia Oil & Gas were worth $141,226,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Lindbrook Capital LLC raised its holdings in shares of Magnolia Oil & Gas by 61.5% in the 1st quarter. Lindbrook Capital LLC now owns 1,647 shares of the company’s stock valued at $43,000 after purchasing an additional 627 shares in the last quarter. Envestnet Portfolio Solutions Inc. raised its stake in Magnolia Oil & Gas by 5.9% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 13,156 shares of the company’s stock worth $280,000 after buying an additional 730 shares in the last quarter. Commerce Bank lifted its holdings in Magnolia Oil & Gas by 4.0% during the fourth quarter. Commerce Bank now owns 24,820 shares of the company’s stock worth $528,000 after buying an additional 945 shares during the period. Fulton Bank N.A. boosted its position in Magnolia Oil & Gas by 10.3% during the 2nd quarter. Fulton Bank N.A. now owns 10,411 shares of the company’s stock valued at $264,000 after acquiring an additional 968 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV increased its holdings in shares of Magnolia Oil & Gas by 1,753.6% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,038 shares of the company’s stock valued at $26,000 after acquiring an additional 982 shares during the period. Institutional investors own 94.73% of the company’s stock.

Magnolia Oil & Gas Trading Down 1.8 %

NYSE MGY opened at $23.57 on Friday. The stock has a market cap of $4.69 billion, a P/E ratio of 11.72, a P/E/G ratio of 1.15 and a beta of 2.00. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.21. Magnolia Oil & Gas Co. has a 12-month low of $19.16 and a 12-month high of $27.63. The company has a fifty day simple moving average of $25.47 and a two-hundred day simple moving average of $25.09.

Magnolia Oil & Gas (NYSE:MGY) last issued its earnings results on Wednesday, July 31st. The company reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.05. Magnolia Oil & Gas had a return on equity of 21.18% and a net margin of 29.44%. The company had revenue of $336.73 million during the quarter, compared to analyst estimates of $340.72 million. On average, analysts forecast that Magnolia Oil & Gas Co. will post 2.13 earnings per share for the current year.

Magnolia Oil & Gas Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date was Friday, August 9th. Magnolia Oil & Gas’s dividend payout ratio (DPR) is 25.87%.

Wall Street Analysts Forecast Growth

MGY has been the topic of a number of recent research reports. Wolfe Research began coverage on Magnolia Oil & Gas in a research report on Thursday, July 18th. They set an “outperform” rating and a $32.00 price objective on the stock. Truist Financial lifted their price objective on shares of Magnolia Oil & Gas from $34.00 to $35.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Susquehanna decreased their target price on shares of Magnolia Oil & Gas from $33.00 to $32.00 and set a “positive” rating for the company in a research report on Wednesday. Bank of America lifted their price target on shares of Magnolia Oil & Gas from $28.00 to $29.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Finally, Capital One Financial initiated coverage on Magnolia Oil & Gas in a report on Tuesday, June 11th. They set an “overweight” rating and a $28.00 price objective for the company. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $28.60.

Magnolia Oil & Gas Profile

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.