Edgestream Partners L.P. Has $3.54 Million Stock Holdings in Magnolia Oil & Gas Corp (NYSE:MGY)

Edgestream Partners L.P. decreased its holdings in shares of Magnolia Oil & Gas Corp (NYSE:MGY - Free Report) by 42.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 140,137 shares of the company's stock after selling 102,157 shares during the period. Edgestream Partners L.P. owned approximately 0.07% of Magnolia Oil & Gas worth $3,540,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Xponance Inc. raised its holdings in shares of Magnolia Oil & Gas by 6.1% in the first quarter. Xponance Inc. now owns 13,051 shares of the company's stock valued at $330,000 after purchasing an additional 752 shares during the last quarter. Cerity Partners LLC raised its holdings in shares of Magnolia Oil & Gas by 1.0% in the first quarter. Cerity Partners LLC now owns 125,311 shares of the company's stock valued at $3,165,000 after purchasing an additional 1,230 shares during the last quarter. M&T Bank Corp raised its holdings in shares of Magnolia Oil & Gas by 3.6% in the first quarter. M&T Bank Corp now owns 26,224 shares of the company's stock valued at $662,000 after purchasing an additional 902 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of Magnolia Oil & Gas by 3.7% in the first quarter. Envestnet Asset Management Inc. now owns 421,895 shares of the company's stock valued at $10,657,000 after purchasing an additional 15,224 shares during the last quarter. Finally, Penserra Capital Management LLC raised its holdings in shares of Magnolia Oil & Gas by 100.8% in the first quarter. Penserra Capital Management LLC now owns 36,106 shares of the company's stock valued at $912,000 after purchasing an additional 18,126 shares during the last quarter. Hedge funds and other institutional investors own 94.73% of the company's stock.

Magnolia Oil & Gas Price Performance

Shares of NYSE:MGY opened at $22.71 on Thursday. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $4.37 billion, a PE ratio of 11.30, a P/E/G ratio of 3.09 and a beta of 1.28. Magnolia Oil & Gas Corp has a twelve month low of $19.09 and a twelve month high of $29.02. The company has a 50-day moving average price of $22.90 and a two-hundred day moving average price of $23.17.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last issued its earnings results on Wednesday, April 30th. The company reported $0.55 earnings per share for the quarter, topping analysts' consensus estimates of $0.53 by $0.02. The firm 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%. The company's quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter last year, the business earned $0.46 earnings per share. Equities analysts forecast that Magnolia Oil & Gas Corp will post 2.1 EPS for the current year.

Magnolia Oil & Gas Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 12th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Monday, May 12th. This represents a $0.60 dividend on an annualized basis and a yield of 2.64%. Magnolia Oil & Gas's dividend payout ratio is presently 29.85%.

Analyst Upgrades and Downgrades

MGY has been the subject of several analyst reports. UBS Group reiterated a "buy" rating and issued a $29.00 target price (up previously from $26.00) on shares of Magnolia Oil & Gas in a report on Friday, June 13th. Piper Sandler lowered their target price on shares of Magnolia Oil & Gas from $25.00 to $24.00 and set a "neutral" rating for the company in a report on Tuesday, May 13th. Wells Fargo & Company reduced their price target on shares of Magnolia Oil & Gas from $22.00 to $21.00 and set an "underweight" rating for the company in a research report on Monday, June 16th. Bank of America increased their price target on shares of Magnolia Oil & Gas from $23.00 to $25.00 and gave the company a "neutral" rating in a research report on Friday, May 23rd. Finally, Susquehanna reduced their price target on shares of Magnolia Oil & Gas from $31.00 to $30.00 and set a "positive" rating for the company in a research report on Tuesday, April 22nd. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price 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.

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