Magnolia Oil & Gas Corp $MGY Shares Sold by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. trimmed its holdings in Magnolia Oil & Gas Corp (NYSE:MGY) by 12.6% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,052 shares of the company’s stock after selling 1,449 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Magnolia Oil & Gas were worth $226,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in MGY. GAMMA Investing LLC increased its stake in shares of Magnolia Oil & Gas by 98.6% in the second quarter. GAMMA Investing LLC now owns 5,009 shares of the company’s stock worth $113,000 after buying an additional 2,487 shares during the last quarter. Smartleaf Asset Management LLC increased its position in shares of Magnolia Oil & Gas by 34.3% in the 1st quarter. Smartleaf Asset Management LLC now owns 5,072 shares of the company’s stock worth $128,000 after purchasing an additional 1,295 shares during the last quarter. Pacer Advisors Inc. bought a new stake in shares of Magnolia Oil & Gas in the 1st quarter worth about $136,000. State of Wyoming raised its stake 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 valued at $146,000 after purchasing an additional 440 shares in the last quarter. Finally, Bayforest Capital Ltd lifted its position in shares of Magnolia Oil & Gas by 50.2% during the first quarter. Bayforest Capital Ltd now owns 7,960 shares of the company’s stock worth $201,000 after purchasing an additional 2,661 shares during the last quarter. Institutional investors and hedge funds own 94.73% of the company’s stock.

Magnolia Oil & Gas Price Performance

Shares of NYSE MGY opened at $23.33 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.44 and a quick ratio of 1.44. The firm has a market capitalization of $4.45 billion, a PE ratio of 12.21, a P/E/G ratio of 3.17 and a beta of 1.24. Magnolia Oil & Gas Corp has a 1-year low of $19.09 and a 1-year high of $29.02. The business’s fifty day moving average price is $23.89 and its two-hundred day moving average price is $23.04.

Magnolia Oil & Gas (NYSE:MGY) last released its quarterly earnings data 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. The business had revenue of $318.98 million for the quarter, compared to analysts’ expectations 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 revenue for the quarter was down 5.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.51 EPS. On average, research analysts expect that Magnolia Oil & Gas Corp will post 2.1 EPS for the current year.

Magnolia Oil & Gas Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 11th were given a dividend of $0.15 per share. The ex-dividend date was Monday, August 11th. This represents a $0.60 annualized dividend and a dividend yield of 2.6%. Magnolia Oil & Gas’s payout ratio is currently 31.41%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. KeyCorp set a $29.00 price objective on Magnolia Oil & Gas and gave the company an “overweight” rating in a report on Wednesday, October 15th. Mizuho decreased their target price on Magnolia Oil & Gas from $26.00 to $25.00 and set a “neutral” rating for the company in a research report on Monday, September 15th. Piper Sandler boosted their target price on shares of Magnolia Oil & Gas from $24.00 to $25.00 and gave the company a “neutral” rating in a research note on Thursday, July 17th. Weiss Ratings reissued a “hold (c)” rating on shares of Magnolia Oil & Gas in a report on Wednesday, October 8th. Finally, William Blair began coverage on shares of Magnolia Oil & Gas in a research report on Monday, August 25th. They issued an “outperform” rating on the stock. Five research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Magnolia Oil & Gas currently has a consensus rating of “Hold” and an average price target of $26.33.

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.