Vanguard Group Inc. Trims Stock Holdings in Magnolia Oil & Gas Co. (NYSE:MGY)

Vanguard Group Inc. reduced its stake in Magnolia Oil & Gas Co. (NYSE:MGYFree Report) by 0.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 17,829,676 shares of the company’s stock after selling 48,636 shares during the period. Vanguard Group Inc. owned approximately 8.61% of Magnolia Oil & Gas worth $408,478,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of MGY. VisionPoint Advisory Group LLC increased 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 last quarter. Sei Investments Co. boosted its holdings in Magnolia Oil & Gas by 6.2% during the 3rd quarter. Sei Investments Co. now owns 818,397 shares of the company’s stock valued at $18,750,000 after acquiring an additional 47,564 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Magnolia Oil & Gas by 12.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,735,955 shares of the company’s stock valued at $39,771,000 after acquiring an additional 195,467 shares during the period. Canandaigua National Bank & Trust Co. boosted its holdings in Magnolia Oil & Gas by 10.7% during the 3rd quarter. Canandaigua National Bank & Trust Co. now owns 12,322 shares of the company’s stock valued at $282,000 after acquiring an additional 1,191 shares during the period. Finally, Clearbridge Investments LLC boosted its holdings in Magnolia Oil & Gas by 6.3% during the 3rd quarter. Clearbridge Investments LLC now owns 906,589 shares of the company’s stock valued at $20,770,000 after acquiring an additional 53,805 shares during the period. 94.73% of the stock is currently owned by hedge funds and other institutional investors.

Magnolia Oil & Gas Trading Up 1.7 %

Shares of Magnolia Oil & Gas stock opened at $25.18 on Tuesday. The company has a fifty day simple moving average of $21.91 and a 200-day simple moving average of $21.93. Magnolia Oil & Gas Co. has a 12-month low of $18.72 and a 12-month high of $25.26. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.21. The stock has a market cap of $5.14 billion, a price-to-earnings ratio of 12.28, a PEG ratio of 1.58 and a beta of 2.03.

Magnolia Oil & Gas (NYSE:MGYGet Free Report) last posted its earnings results on Wednesday, February 14th. The company reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.04). The firm had revenue of $322.63 million for the quarter, compared to analyst estimates of $324.95 million. Magnolia Oil & Gas had a return on equity of 21.21% and a net margin of 31.65%. On average, equities analysts forecast that Magnolia Oil & Gas Co. will post 2 EPS for the current fiscal year.

Magnolia Oil & Gas Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 16th were issued a $0.13 dividend. This is an increase from Magnolia Oil & Gas’s previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a dividend yield of 2.07%. The ex-dividend date of this dividend was Thursday, February 15th. Magnolia Oil & Gas’s dividend payout ratio is presently 25.37%.

Analyst Ratings Changes

A number of research firms have issued reports on MGY. Bank of America began coverage on shares of Magnolia Oil & Gas in a report on Tuesday, February 27th. They set a “buy” rating and a $25.00 target price on the stock. Piper Sandler reduced their target price on shares of Magnolia Oil & Gas from $30.00 to $29.00 and set an “overweight” rating on the stock in a report on Wednesday, January 24th. Wells Fargo & Company cut their price target on Magnolia Oil & Gas from $23.00 to $21.00 and set an “equal weight” rating on the stock in a report on Friday, January 19th. Truist Financial increased their price target on Magnolia Oil & Gas from $32.00 to $33.00 and gave the company a “buy” rating in a research report on Friday, February 16th. Finally, Mizuho increased their price target on Magnolia Oil & Gas from $24.00 to $26.00 and gave the company a “neutral” rating in a research report on Thursday, March 14th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $25.33.

Get Our Latest Analysis on MGY

About Magnolia Oil & Gas

(Free Report)

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.

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Institutional Ownership by Quarter for Magnolia Oil & Gas (NYSE:MGY)

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