Allspring Global Investments Holdings LLC Lowers Stock Position in Magnolia Oil & Gas Corp $MGY

Allspring Global Investments Holdings LLC reduced its holdings in shares of Magnolia Oil & Gas Corp (NYSE:MGY - Free Report) by 7.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,699,004 shares of the company's stock after selling 231,689 shares during the period. Allspring Global Investments Holdings LLC owned approximately 1.45% of Magnolia Oil & Gas worth $81,429,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also modified their holdings of MGY. Epoch Investment Partners Inc. grew its stake in shares of Magnolia Oil & Gas by 58.7% during the 3rd quarter. Epoch Investment Partners Inc. now owns 4,138,626 shares of the company's stock worth $98,789,000 after purchasing an additional 1,531,061 shares during the period. HITE Hedge Asset Management LLC increased its holdings in Magnolia Oil & Gas by 661.5% in the fourth quarter. HITE Hedge Asset Management LLC now owns 1,454,388 shares of the company's stock valued at $31,837,000 after buying an additional 1,263,407 shares in the last quarter. TD Asset Management Inc raised its position in shares of Magnolia Oil & Gas by 26.6% in the fourth quarter. TD Asset Management Inc now owns 5,671,819 shares of the company's stock worth $124,156,000 after acquiring an additional 1,193,458 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in shares of Magnolia Oil & Gas by 192.4% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,401,279 shares of the company's stock worth $33,449,000 after acquiring an additional 921,970 shares in the last quarter. Finally, Voloridge Investment Management LLC boosted its stake in shares of Magnolia Oil & Gas by 116.4% during the 4th quarter. Voloridge Investment Management LLC now owns 969,487 shares of the company's stock worth $21,222,000 after acquiring an additional 521,459 shares in the last quarter. Hedge funds and other institutional investors own 94.73% of the company's stock.

Magnolia Oil & Gas Price Performance

Magnolia Oil & Gas stock opened at $27.27 on Friday. Magnolia Oil & Gas Corp has a 1 year low of $21.07 and a 1 year high of $32.76. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.10 and a current ratio of 1.10. The firm has a 50 day moving average price of $27.36 and a 200 day moving average price of $27.30. The company has a market cap of $5.04 billion, a price-to-earnings ratio of 15.85 and a beta of 0.70.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.03. The firm had revenue of $358.51 million for the quarter, compared to analysts' expectations of $349.89 million. Magnolia Oil & Gas had a return on equity of 16.28% and a net margin of 24.40%.The firm's revenue for the quarter was up 2.3% on a year-over-year basis. During the same period last year, the business posted $0.54 earnings per share. Sell-side analysts predict that Magnolia Oil & Gas Corp will post 2.67 earnings per share for the current year.

Magnolia Oil & Gas Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Tuesday, May 12th were issued a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend was Tuesday, May 12th. Magnolia Oil & Gas's dividend payout ratio (DPR) is 38.37%.

Analyst Ratings Changes

A number of research firms have commented on MGY. KeyCorp reiterated an "overweight" rating on shares of Magnolia Oil & Gas in a report on Monday, June 29th. Zacks Research cut Magnolia Oil & Gas from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 19th. Wells Fargo & Company dropped their price target on Magnolia Oil & Gas from $32.00 to $31.00 and set an "equal weight" rating for the company in a research report on Wednesday, May 13th. UBS Group cut their price target on Magnolia Oil & Gas from $38.00 to $34.00 and set a "buy" rating for the company in a report on Friday, July 10th. Finally, Citigroup reduced their price objective on Magnolia Oil & Gas from $35.00 to $32.00 and set a "neutral" rating on the stock in a research report on Monday, April 13th. Eight equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $31.08.

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).

Want to see what other hedge funds are holding MGY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Magnolia Oil & Gas Corp (NYSE:MGY - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.