Great Lakes Advisors LLC Lowers Position in Magnolia Oil & Gas Corp $MGY

Key Points

• Great Lakes Advisors LLC has reduced its stake in Magnolia Oil & Gas Corp by 11.1%, now holding 162,842 shares worth approximately $4.11 million.
• Magnolia Oil & Gas recently declared a quarterly dividend of $0.15 per share, representing an annualized dividend of $0.60 and a yield of 2.6%.
• Analysts have given Magnolia Oil & Gas a mixed rating, with four ratings being "Buy," eight as "Hold," and two as "Sell," resulting in a consensus price target of $26.67.

Great Lakes Advisors LLC lowered its holdings in Magnolia Oil & Gas Corp (NYSE:MGY - Free Report) by 11.1% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 162,842 shares of the company's stock after selling 20,307 shares during the quarter. Great Lakes Advisors LLC owned approximately 0.08% of Magnolia Oil & Gas worth $4,113,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of MGY. Opal Wealth Advisors LLC purchased a new position in shares of Magnolia Oil & Gas in the 1st quarter valued at approximately $30,000. Parallel Advisors LLC lifted its stake in shares of Magnolia Oil & Gas by 122.8% in the 1st quarter. Parallel Advisors LLC now owns 2,308 shares of the company's stock valued at $58,000 after purchasing an additional 1,272 shares during the period. Farther Finance Advisors LLC lifted its stake in shares of Magnolia Oil & Gas by 16.8% in the 1st quarter. Farther Finance Advisors LLC now owns 4,366 shares of the company's stock valued at $111,000 after purchasing an additional 629 shares during the period. Smartleaf Asset Management LLC lifted its stake in shares of Magnolia Oil & Gas by 34.3% in the 1st quarter. Smartleaf Asset Management LLC now owns 5,072 shares of the company's stock valued at $128,000 after purchasing an additional 1,295 shares during the period. Finally, Pacer Advisors Inc. bought a new position in Magnolia Oil & Gas during the 1st quarter valued at approximately $136,000. Hedge funds and other institutional investors own 94.73% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on MGY. Wells Fargo & Company reduced their price objective on 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. Citigroup reaffirmed a "sell" rating on shares of Magnolia Oil & Gas in a research report on Thursday, July 10th. Piper Sandler raised their price objective on Magnolia Oil & Gas from $24.00 to $25.00 and gave the company a "neutral" rating in a research report on Thursday, July 17th. Bank of America lifted their target price on Magnolia Oil & Gas from $23.00 to $25.00 and gave the stock a "neutral" rating in a report on Friday, May 23rd. Finally, UBS Group reissued 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. Four analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $26.67.

Magnolia Oil & Gas Stock Performance

Shares of MGY traded down $0.33 during trading hours on Friday, hitting $23.81. The stock had a trading volume of 1,919,705 shares, compared to its average volume of 1,989,827. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.44 and a quick ratio of 1.44. Magnolia Oil & Gas Corp has a 12 month low of $19.09 and a 12 month high of $29.02. The firm has a market capitalization of $4.54 billion, a PE ratio of 12.46, a PEG ratio of 3.18 and a beta of 1.33. The stock has a fifty day moving average price of $23.78 and a 200 day moving average price of $23.02.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.40 by $0.03. Magnolia Oil & Gas had a return on equity of 19.34% and a net margin of 27.57%.The company had revenue of $318.98 million during the quarter, compared to analyst estimates of $311.58 million. During the same quarter in the previous year, the company posted $0.51 earnings per share. Magnolia Oil & Gas's revenue was down 5.3% compared to the same quarter last year. Analysts anticipate that Magnolia Oil & Gas Corp will post 2.1 EPS for the current year.

Magnolia Oil & Gas Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 11th were given a dividend of $0.15 per share. The ex-dividend date was Monday, August 11th. This represents a $0.60 annualized dividend and a yield of 2.5%. Magnolia Oil & Gas's payout ratio is 31.41%.

Magnolia Oil & Gas 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.