Bank of New York Mellon Corp Sells 21,412 Shares of Magnolia Oil & Gas Corp $MGY

Bank of New York Mellon Corp lessened its stake in Magnolia Oil & Gas Corp (NYSE:MGY) by 1.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,943,586 shares of the company’s stock after selling 21,412 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.04% of Magnolia Oil & Gas worth $61,359,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Lido Advisors LLC lifted its stake in Magnolia Oil & Gas by 2.4% in the fourth quarter. Lido Advisors LLC now owns 16,197 shares of the company’s stock valued at $382,000 after acquiring an additional 387 shares during the last quarter. Oak Family Advisors LLC raised its holdings in shares of Magnolia Oil & Gas by 0.9% in the 4th quarter. Oak Family Advisors LLC now owns 47,620 shares of the company’s stock valued at $1,042,000 after purchasing an additional 410 shares during the period. Smartleaf Asset Management LLC raised its holdings in shares of Magnolia Oil & Gas by 10.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 4,624 shares of the company’s stock valued at $102,000 after purchasing an additional 422 shares during the period. GAMMA Investing LLC lifted its stake in Magnolia Oil & Gas by 8.0% in the 4th quarter. GAMMA Investing LLC now owns 6,130 shares of the company’s stock valued at $134,000 after purchasing an additional 453 shares during the last quarter. Finally, Coldstream Capital Management Inc. lifted its stake in Magnolia Oil & Gas by 3.1% in the 3rd quarter. Coldstream Capital Management Inc. now owns 15,937 shares of the company’s stock valued at $380,000 after purchasing an additional 482 shares during the last quarter. 94.73% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on MGY. UBS Group dropped their price objective on Magnolia Oil & Gas from $38.00 to $34.00 and set a “buy” rating on the stock in a research note on Friday, July 10th. Mizuho reduced their target price on Magnolia Oil & Gas from $35.00 to $33.00 and set an “outperform” rating for the company in a research note on Wednesday. Truist Financial decreased their target price on Magnolia Oil & Gas from $34.00 to $32.00 and set a “hold” rating on the stock in a report on Tuesday, July 7th. Weiss Ratings cut Magnolia Oil & Gas from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, May 21st. Finally, Roth Capital raised Magnolia Oil & Gas from a “neutral” rating to a “buy” rating and set a $31.00 price target for the company in a report on Monday, June 22nd. Eight research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $31.58.

Magnolia Oil & Gas Stock Up 2.1%

MGY stock opened at $25.62 on Thursday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.10 and a quick ratio of 1.10. The stock has a market capitalization of $4.74 billion, a price-to-earnings ratio of 14.90 and a beta of 0.70. The business’s fifty day moving average price is $27.17 and its two-hundred day moving average price is $27.41. Magnolia Oil & Gas Corp has a fifty-two week low of $21.07 and a fifty-two week high of $32.76.

Magnolia Oil & Gas (NYSE:MGY) last announced its earnings results on Wednesday, May 6th. The company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.03. Magnolia Oil & Gas had a net margin of 24.40% and a return on equity of 16.28%. The company had revenue of $358.51 million during the quarter, compared to analysts’ expectations of $349.89 million. During the same quarter in the previous year, the business posted $0.54 earnings per share. Magnolia Oil & Gas’s quarterly revenue was up 2.3% on a year-over-year basis. On average, equities analysts anticipate that Magnolia Oil & Gas Corp will post 2.7 earnings per share for the current year.

Magnolia Oil & Gas Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Tuesday, May 12th were issued a $0.165 dividend. The ex-dividend date of this dividend was Tuesday, May 12th. This represents a $0.66 dividend on an annualized basis and a yield of 2.6%. Magnolia Oil & Gas’s payout ratio is currently 38.37%.

Magnolia Oil & Gas Company Profile

Magnolia Oil & Gas Corp (NYSE: MGY) is an independent exploration and production company focused on the acquisition, development and optimization of onshore oil and gas assets in South Texas. Headquartered in Houston, the company concentrates its efforts on the Eagle Ford Shale, where it holds significant working interests in key producing counties.

The company’s core operations center on horizontal drilling and multi-stage completions designed to extract light crude oil, natural gas and natural gas liquids (NGLs).