Magnolia Oil & Gas Corp $MGY Shares Sold by Rafferty Asset Management LLC

Rafferty Asset Management LLC reduced its holdings in shares of Magnolia Oil & Gas Corp (NYSE:MGY) by 20.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 179,677 shares of the company’s stock after selling 44,852 shares during the quarter. Rafferty Asset Management LLC owned 0.10% of Magnolia Oil & Gas worth $4,289,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Fox Run Management L.L.C. acquired a new position in shares of Magnolia Oil & Gas during the 3rd quarter valued at $206,000. TD Asset Management Inc lifted its stake in shares of Magnolia Oil & Gas by 55.7% during the third quarter. TD Asset Management Inc now owns 4,478,361 shares of the company’s stock worth $106,898,000 after purchasing an additional 1,601,809 shares in the last quarter. AXQ Capital LP acquired a new position in shares of Magnolia Oil & Gas during the third quarter worth about $205,000. Semanteon Capital Management LP purchased a new stake in shares of Magnolia Oil & Gas in the third quarter worth about $567,000. Finally, Heartland Advisors Inc. grew its stake in shares of Magnolia Oil & Gas by 92.1% in the third quarter. Heartland Advisors Inc. now owns 576,290 shares of the company’s stock valued at $13,756,000 after buying an additional 276,290 shares in the last quarter. Institutional investors and hedge funds own 94.73% of the company’s stock.

Magnolia Oil & Gas Stock Down 0.4%

MGY stock opened at $28.43 on Wednesday. The company has a market capitalization of $5.30 billion, a P/E ratio of 16.53 and a beta of 0.89. The firm has a 50 day simple moving average of $24.60 and a 200-day simple moving average of $23.76. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 0.20. Magnolia Oil & Gas Corp has a twelve month low of $19.09 and a twelve month high of $29.10.

Magnolia Oil & Gas (NYSE:MGY) last issued its quarterly earnings results on Thursday, February 5th. The company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.36 by $0.01. The business had revenue of $317.63 million for the quarter, compared to analysts’ expectations of $322.18 million. Magnolia Oil & Gas had a net margin of 24.79% and a return on equity of 16.67%. The company’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.44 earnings per share. On average, equities research analysts predict that Magnolia Oil & Gas Corp will post 2.1 earnings per share for the current fiscal year.

Magnolia Oil & Gas Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 2nd. Stockholders of record on Tuesday, February 10th were issued a $0.165 dividend. This is a positive change from Magnolia Oil & Gas’s previous quarterly dividend of $0.15. The ex-dividend date was Tuesday, February 10th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 2.3%. Magnolia Oil & Gas’s dividend payout ratio (DPR) is presently 38.37%.

Wall Street Analysts Forecast Growth

MGY has been the topic of several recent research reports. BMO Capital Markets started coverage on Magnolia Oil & Gas in a research report on Friday, January 9th. They set an “outperform” rating and a $27.00 price target on the stock. UBS Group reissued a “buy” rating and set a $29.00 target price on shares of Magnolia Oil & Gas in a research report on Friday, January 9th. Roth Mkm reaffirmed a “buy” rating on shares of Magnolia Oil & Gas in a report on Tuesday, February 10th. Susquehanna dropped their price target on shares of Magnolia Oil & Gas from $30.00 to $28.00 and set a “positive” rating on the stock in a research note on Monday, January 26th. Finally, Wells Fargo & Company set a $25.00 price objective on shares of Magnolia Oil & Gas in a research report on Monday, February 16th. Eight analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $27.58.

Magnolia Oil & Gas 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).