Bosman Wealth Management LLC Sells 84,553 Shares of Magnolia Oil & Gas Corp (NYSE:MGY)

Bosman Wealth Management LLC lessened its holdings in shares of Magnolia Oil & Gas Corp (NYSE:MGY - Free Report) by 42.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 113,667 shares of the company's stock after selling 84,553 shares during the period. Magnolia Oil & Gas accounts for approximately 2.9% of Bosman Wealth Management LLC's holdings, making the stock its 14th biggest position. Bosman Wealth Management LLC owned 0.06% of Magnolia Oil & Gas worth $2,871,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Larson Financial Group LLC boosted its stake in Magnolia Oil & Gas by 112.3% in the 4th quarter. Larson Financial Group LLC now owns 1,072 shares of the company's stock worth $25,000 after purchasing an additional 567 shares in the last quarter. Opal Wealth Advisors LLC bought a new position in Magnolia Oil & Gas during the 1st quarter valued at about $30,000. Quarry LP lifted its stake in Magnolia Oil & Gas by 1,047.8% during the 4th quarter. Quarry LP now owns 2,135 shares of the company's stock valued at $50,000 after acquiring an additional 1,949 shares during the period. Parallel Advisors LLC lifted its stake in Magnolia Oil & Gas by 122.8% during the 1st quarter. Parallel Advisors LLC now owns 2,308 shares of the company's stock valued at $58,000 after acquiring an additional 1,272 shares during the period. Finally, Farther Finance Advisors LLC lifted its stake in Magnolia Oil & Gas by 16.8% during the 1st quarter. Farther Finance Advisors LLC now owns 4,366 shares of the company's stock valued at $111,000 after acquiring an additional 629 shares during the period. Institutional investors own 94.73% of the company's stock.

Magnolia Oil & Gas Price Performance

MGY traded down $0.18 during trading hours on Monday, hitting $23.64. The company's stock had a trading volume of 2,086,249 shares, compared to its average volume of 2,712,667. The business's 50-day moving average price is $22.76 and its 200-day moving average price is $23.17. Magnolia Oil & Gas Corp has a 12 month low of $19.09 and a 12 month high of $29.02. The stock has a market cap of $4.55 billion, a price-to-earnings ratio of 11.76, a P/E/G ratio of 3.23 and a beta of 1.28. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.20.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.53 by $0.02. The company had revenue of $350.30 million during the quarter, compared to analyst estimates of $337.83 million. Magnolia Oil & Gas had a net margin of 28.50% and a return on equity of 20.73%. Magnolia Oil & Gas's quarterly revenue was up 9.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.46 earnings per share. Sell-side analysts expect that Magnolia Oil & Gas Corp will post 2.1 earnings per share for the current fiscal year.

Magnolia Oil & Gas Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 12th were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 2.54%. The ex-dividend date of this dividend was Monday, May 12th. Magnolia Oil & Gas's payout ratio is 29.85%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on MGY shares. Bank of America upped their target price on shares of Magnolia Oil & Gas from $23.00 to $25.00 and gave the company a "neutral" rating in a research note on Friday, May 23rd. UBS Group reiterated a "buy" rating and issued a $29.00 price objective (up previously from $26.00) on shares of Magnolia Oil & Gas in a research note on Friday, June 13th. Piper Sandler lowered their price objective on shares of Magnolia Oil & Gas from $25.00 to $24.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 13th. Susquehanna lowered their price objective on shares of Magnolia Oil & Gas from $31.00 to $30.00 and set a "positive" rating on the stock in a research note on Tuesday, April 22nd. Finally, Citigroup restated a "sell" rating on shares of Magnolia Oil & Gas in a research note on Thursday. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $27.00.

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.