Voya Investment Management LLC Decreases Stock Position in Magnolia Oil & Gas Corp $MGY

Voya Investment Management LLC lowered its stake in Magnolia Oil & Gas Corp (NYSE:MGY) by 4.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 53,478 shares of the company’s stock after selling 2,754 shares during the period. Voya Investment Management LLC’s holdings in Magnolia Oil & Gas were worth $1,351,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Magnolia Oil & Gas by 4.8% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 15,470 shares of the company’s stock worth $391,000 after buying an additional 715 shares during the period. Foster Victor Wealth Advisors LLC increased its holdings in shares of Magnolia Oil & Gas by 7.1% in the first quarter. Foster Victor Wealth Advisors LLC now owns 336,917 shares of the company’s stock worth $8,511,000 after buying an additional 22,402 shares during the period. Jane Street Group LLC increased its holdings in Magnolia Oil & Gas by 1,382.9% during the 1st quarter. Jane Street Group LLC now owns 1,059,335 shares of the company’s stock valued at $26,759,000 after purchasing an additional 987,896 shares during the period. Bessemer Group Inc. increased its holdings in Magnolia Oil & Gas by 4.4% during the 1st quarter. Bessemer Group Inc. now owns 836,386 shares of the company’s stock valued at $21,127,000 after purchasing an additional 35,575 shares during the period. Finally, Mackenzie Financial Corp increased its holdings in Magnolia Oil & Gas by 164.9% during the 1st quarter. Mackenzie Financial Corp now owns 29,322 shares of the company’s stock valued at $741,000 after purchasing an additional 18,254 shares during the period. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Magnolia Oil & Gas Stock Down 0.3%

MGY stock opened at $23.95 on Tuesday. Magnolia Oil & Gas Corp has a fifty-two week low of $19.09 and a fifty-two week high of $29.02. The business’s 50 day moving average price is $23.87 and its two-hundred day moving average price is $23.08. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.44 and a current ratio of 1.44. The company has a market capitalization of $4.57 billion, a price-to-earnings ratio of 12.54, a price-to-earnings-growth ratio of 3.17 and a beta of 1.33.

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

Magnolia Oil & Gas Dividend Announcement

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

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Mizuho reduced their price target on Magnolia Oil & Gas from $26.00 to $25.00 and set a “neutral” rating on the stock in a report on Monday, September 15th. UBS Group restated a “buy” rating and set a $29.00 price target (up previously from $26.00) on shares of Magnolia Oil & Gas in a report on Friday, June 13th. Wells Fargo & Company reduced their price target on Magnolia Oil & Gas from $22.00 to $21.00 and set an “underweight” rating on the stock in a report on Monday, June 16th. William Blair assumed coverage on Magnolia Oil & Gas in a report on Monday, August 25th. They set an “outperform” rating on the stock. Finally, Piper Sandler boosted their price target on Magnolia Oil & Gas from $24.00 to $25.00 and gave the company a “neutral” rating in a report on Thursday, July 17th. Four investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $26.42.

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.