Magnolia Oil & Gas Corp $MGY Shares Sold by Royal Bank of Canada

Royal Bank of Canada lessened its position in shares of Magnolia Oil & Gas Corp (NYSE:MGY) by 2.4% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 409,747 shares of the company’s stock after selling 10,117 shares during the quarter. Royal Bank of Canada owned approximately 0.21% of Magnolia Oil & Gas worth $10,351,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MGY. BNP Paribas Financial Markets grew its position in Magnolia Oil & Gas by 2.2% during the fourth quarter. BNP Paribas Financial Markets now owns 131,291 shares of the company’s stock valued at $3,070,000 after buying an additional 2,799 shares during the period. Cetera Investment Advisers lifted its holdings in Magnolia Oil & Gas by 26.4% during the fourth quarter. Cetera Investment Advisers now owns 10,852 shares of the company’s stock valued at $254,000 after purchasing an additional 2,265 shares in the last quarter. Deutsche Bank AG lifted its holdings in Magnolia Oil & Gas by 42.7% during the fourth quarter. Deutsche Bank AG now owns 187,715 shares of the company’s stock valued at $4,389,000 after purchasing an additional 56,161 shares in the last quarter. Ensign Peak Advisors Inc lifted its holdings in Magnolia Oil & Gas by 197.2% during the fourth quarter. Ensign Peak Advisors Inc now owns 214,106 shares of the company’s stock valued at $5,006,000 after purchasing an additional 142,067 shares in the last quarter. Finally, Ethic Inc. lifted its holdings in Magnolia Oil & Gas by 18.4% during the fourth quarter. Ethic Inc. now owns 11,006 shares of the company’s stock valued at $257,000 after purchasing an additional 1,713 shares in the last quarter. Institutional investors and hedge funds own 94.73% of the company’s stock.

Magnolia Oil & Gas Stock Performance

NYSE:MGY opened at $24.13 on Friday. The company’s 50-day moving average price is $23.77 and its 200-day moving average price is $23.02. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.20. The company has a market cap of $4.60 billion, a P/E ratio of 12.63, a P/E/G ratio of 3.20 and a beta of 1.33. Magnolia Oil & Gas Corp has a twelve month low of $19.09 and a twelve month high of $29.02.

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

Magnolia Oil & Gas Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Monday, August 11th were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Monday, August 11th. This represents a $0.60 dividend on an annualized basis and a yield of 2.5%. Magnolia Oil & Gas’s payout ratio is 31.41%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. William Blair assumed coverage on shares of Magnolia Oil & Gas in a report on Monday, August 25th. They set an “outperform” rating on the stock. UBS Group reaffirmed a “buy” rating and set a $29.00 price objective (up from $26.00) on shares of Magnolia Oil & Gas in a report on Friday, June 13th. Citigroup reaffirmed a “sell” rating on shares of Magnolia Oil & Gas in a report on Thursday, July 10th. Wells Fargo & Company decreased their price target on shares of Magnolia Oil & Gas from $22.00 to $21.00 and set an “underweight” rating on the stock in a research note on Monday, June 16th. Finally, Bank of America raised their price target on shares of Magnolia Oil & Gas from $23.00 to $25.00 and gave the stock a “neutral” rating in a research note on Friday, May 23rd. Four research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Magnolia Oil & Gas currently has an average rating of “Hold” and an average target price of $26.67.

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.