Vanguard Group Inc. Sells 530,497 Shares of Magnolia Oil & Gas Corp (NYSE:MGY)

Vanguard Group Inc. cut its stake in shares of Magnolia Oil & Gas Corp (NYSE:MGY) by 2.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 20,407,703 shares of the company’s stock after selling 530,497 shares during the quarter. Vanguard Group Inc. owned approximately 10.51% of Magnolia Oil & Gas worth $515,499,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Opal Wealth Advisors LLC bought a new position in Magnolia Oil & Gas during the first quarter worth $30,000. Quarry LP boosted its stake in Magnolia Oil & Gas by 1,047.8% during the fourth quarter. Quarry LP now owns 2,135 shares of the company’s stock worth $50,000 after acquiring an additional 1,949 shares in the last quarter. Parallel Advisors LLC boosted its stake in Magnolia Oil & Gas by 122.8% during the first quarter. Parallel Advisors LLC now owns 2,308 shares of the company’s stock worth $58,000 after acquiring an additional 1,272 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in Magnolia Oil & Gas by 16.8% during the first quarter. Farther Finance Advisors LLC now owns 4,366 shares of the company’s stock worth $111,000 after acquiring an additional 629 shares in the last quarter. Finally, Pacer Advisors Inc. bought a new position in Magnolia Oil & Gas during the first quarter worth $136,000. 94.73% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Citigroup reissued a “sell” rating on shares of Magnolia Oil & Gas in a research note on Thursday, July 10th. UBS Group reissued a “buy” rating and set a $29.00 target price (up from $26.00) on shares of Magnolia Oil & Gas in a research note on Friday, June 13th. Wells Fargo & Company lowered their price objective on shares of Magnolia Oil & Gas from $22.00 to $21.00 and set an “underweight” rating on the stock in a report on Monday, June 16th. Susquehanna lowered their price objective on shares of Magnolia Oil & Gas from $31.00 to $30.00 and set a “positive” rating on the stock in a report on Tuesday, April 22nd. Finally, Bank of America upped their price objective on shares of Magnolia Oil & Gas from $23.00 to $25.00 and gave the stock a “neutral” rating in a report on Friday, May 23rd. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $26.67.

Magnolia Oil & Gas Stock Performance

MGY opened at $23.83 on Friday. The company’s fifty day moving average price is $23.52 and its two-hundred day moving average price is $22.98. The company has a market cap of $4.55 billion, a price-to-earnings ratio of 12.47, a PEG ratio of 3.09 and a beta of 1.31. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.20. Magnolia Oil & Gas Corp has a 1-year low of $19.09 and a 1-year high of $29.02.

Magnolia Oil & Gas (NYSE:MGY) last announced its earnings results on Wednesday, July 30th. The company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.40 by $0.03. The company had revenue of $318.98 million during the quarter, compared to the consensus estimate of $311.58 million. Magnolia Oil & Gas had a net margin of 27.57% and a return on equity of 19.34%. The firm’s revenue for the quarter was down 5.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.51 earnings per share. On average, analysts expect that Magnolia Oil & Gas Corp will post 2.1 EPS for the current fiscal year.

Magnolia Oil & Gas Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Monday, August 11th will be issued a $0.15 dividend. The ex-dividend date is Monday, August 11th. This represents a $0.60 annualized dividend and a dividend yield of 2.5%. Magnolia Oil & Gas’s dividend payout ratio is currently 31.41%.

Magnolia Oil & Gas Company Profile

Magnolia Oil & Gas Corp. engages in the acquisition, development, exploration, and production of oil and natural gas properties. It operates assets located in the Eagle Ford Shale and Austin Chalk formations in South Texas. The company was founded on February 14, 2017 and is headquartered in Houston, TX.