Vest Financial LLC Sells 32,085 Shares of Magnolia Oil & Gas Corp $MGY

Vest Financial LLC cut its holdings in Magnolia Oil & Gas Corp (NYSE:MGY) by 40.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 47,930 shares of the company’s stock after selling 32,085 shares during the quarter. Vest Financial LLC’s holdings in Magnolia Oil & Gas were worth $1,144,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of MGY. American Century Companies Inc. lifted its position in Magnolia Oil & Gas by 12.9% during the second quarter. American Century Companies Inc. now owns 11,861,231 shares of the company’s stock valued at $266,641,000 after purchasing an additional 1,358,878 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Magnolia Oil & Gas by 5.6% during the 2nd quarter. Geode Capital Management LLC now owns 4,531,855 shares of the company’s stock valued at $101,895,000 after buying an additional 238,356 shares in the last quarter. Boston Trust Walden Corp lifted its holdings in shares of Magnolia Oil & Gas by 26.0% in the 2nd quarter. Boston Trust Walden Corp now owns 4,003,770 shares of the company’s stock valued at $90,005,000 after acquiring an additional 825,162 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in Magnolia Oil & Gas by 4.2% in the second quarter. Allspring Global Investments Holdings LLC now owns 3,307,951 shares of the company’s stock worth $75,454,000 after acquiring an additional 132,564 shares in the last quarter. Finally, Systematic Financial Management LP grew its position in Magnolia Oil & Gas by 0.8% in the second quarter. Systematic Financial Management LP now owns 3,013,800 shares of the company’s stock worth $67,750,000 after acquiring an additional 24,054 shares in the last quarter. Institutional investors own 94.73% of the company’s stock.

Magnolia Oil & Gas Stock Performance

Shares of Magnolia Oil & Gas stock opened at $24.11 on Friday. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.20. The stock’s fifty day moving average is $22.53 and its two-hundred day moving average is $23.21. Magnolia Oil & Gas Corp has a 52 week low of $19.09 and a 52 week high of $26.24. The company has a market capitalization of $4.55 billion, a PE ratio of 13.47, a price-to-earnings-growth ratio of 3.83 and a beta of 0.92.

Magnolia Oil & Gas (NYSE:MGY) last issued its earnings results on Wednesday, October 29th. The company reported $0.41 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.41. The firm had revenue of $324.94 million during the quarter, compared to analyst estimates of $322.52 million. Magnolia Oil & Gas had a net margin of 25.90% and a return on equity of 18.10%. The business’s revenue was down 2.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.52 earnings per share. As a group, analysts expect that Magnolia Oil & Gas Corp will post 2.1 earnings per share for the current year.

Magnolia Oil & Gas Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Monday, November 10th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date was Monday, November 10th. Magnolia Oil & Gas’s dividend payout ratio is currently 33.52%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. BMO Capital Markets initiated coverage on Magnolia Oil & Gas in a research note on Friday, January 9th. They issued an “outperform” rating and a $27.00 price objective for the company. Zacks Research downgraded Magnolia Oil & Gas from a “hold” rating to a “strong sell” rating in a research report on Monday, January 12th. Benchmark reaffirmed a “hold” rating on shares of Magnolia Oil & Gas in a research note on Wednesday. Citigroup raised shares of Magnolia Oil & Gas from a “neutral” rating to a “buy” rating and increased their target price for the company from $19.00 to $25.00 in a research note on Wednesday, January 14th. Finally, UBS Group reaffirmed a “buy” rating and set a $29.00 price target on shares of Magnolia Oil & Gas in a research note on Friday, January 9th. Eight investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $26.67.

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).