Farther Finance Advisors LLC Sells 582 Shares of Magnolia Oil & Gas Corp $MGY

Farther Finance Advisors LLC lowered its position in Magnolia Oil & Gas Corp (NYSE:MGY) by 13.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,784 shares of the company’s stock after selling 582 shares during the quarter. Farther Finance Advisors LLC’s holdings in Magnolia Oil & Gas were worth $85,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Opal Wealth Advisors LLC purchased a new stake in Magnolia Oil & Gas during the first quarter valued at about $30,000. Parallel Advisors LLC lifted its holdings in Magnolia Oil & Gas by 122.8% in the first quarter. Parallel Advisors LLC now owns 2,308 shares of the company’s stock worth $58,000 after buying an additional 1,272 shares during the period. Smartleaf Asset Management LLC lifted its holdings in Magnolia Oil & Gas by 34.3% in the first quarter. Smartleaf Asset Management LLC now owns 5,072 shares of the company’s stock worth $128,000 after buying an additional 1,295 shares during the period. Pacer Advisors Inc. bought a new stake in shares of Magnolia Oil & Gas in the 1st quarter worth approximately $136,000. Finally, State of Wyoming boosted its position in shares of Magnolia Oil & Gas by 8.2% in the 1st quarter. State of Wyoming now owns 5,777 shares of the company’s stock worth $146,000 after purchasing an additional 440 shares in the last quarter. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Analysts Set New Price Targets

MGY has been the subject of a number of recent analyst reports. Wells Fargo & Company decreased their price objective on shares of Magnolia Oil & Gas from $22.00 to $21.00 and set an “underweight” rating for the company in a report on Monday, June 16th. William Blair began coverage on shares of Magnolia Oil & Gas in a research report on Monday, August 25th. They set an “outperform” rating for the company. Citigroup reaffirmed a “sell” rating on shares of Magnolia Oil & Gas in a report on Thursday, July 10th. UBS Group reissued a “buy” rating and set a $29.00 price objective (up previously from $26.00) on shares of Magnolia Oil & Gas in a report on Friday, June 13th. Finally, Mizuho dropped their price objective on shares of Magnolia Oil & Gas from $26.00 to $25.00 and set a “neutral” rating for the company in a report on Monday, September 15th. Four research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $26.42.

Magnolia Oil & Gas Price Performance

NYSE MGY opened at $23.63 on Friday. 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 firm’s 50 day moving average price is $24.06 and its 200-day moving average price is $23.13. Magnolia Oil & Gas Corp has a 52-week low of $19.09 and a 52-week high of $29.02. The company has a market cap of $4.51 billion, a PE ratio of 12.37, a P/E/G ratio of 3.10 and a beta of 1.24.

Magnolia Oil & Gas (NYSE:MGY) last released its quarterly earnings data on Wednesday, July 30th. The company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.03. The firm had revenue of $318.98 million for 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 company’s quarterly revenue was down 5.3% on a year-over-year basis. During the same period last year, the firm earned $0.51 earnings per share. Sell-side analysts forecast that Magnolia Oil & Gas Corp will post 2.1 EPS 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 $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 2.5%. The ex-dividend date was Monday, August 11th. Magnolia Oil & Gas’s dividend payout ratio (DPR) is 31.41%.

About Magnolia Oil & Gas

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.