Magnolia Oil & Gas Corp $MGY Shares Sold by Great Lakes Advisors LLC

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 reduced its holdings in Magnolia Oil & Gas Corp (NYSE:MGY - Free Report) by 11.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 162,842 shares of the company's stock after selling 20,307 shares during the period. Great Lakes Advisors LLC owned approximately 0.08% of Magnolia Oil & Gas worth $4,113,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. American Century Companies Inc. lifted its stake in shares of Magnolia Oil & Gas by 5.7% in the first quarter. American Century Companies Inc. now owns 10,502,353 shares of the company's stock worth $265,289,000 after buying an additional 562,223 shares in the last quarter. Janus Henderson Group PLC lifted its stake in shares of Magnolia Oil & Gas by 11.7% in the fourth quarter. Janus Henderson Group PLC now owns 6,396,875 shares of the company's stock worth $149,559,000 after buying an additional 667,973 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Magnolia Oil & Gas by 12.5% in the first quarter. Dimensional Fund Advisors LP now owns 5,365,892 shares of the company's stock worth $135,541,000 after buying an additional 597,845 shares in the last quarter. Boston Trust Walden Corp lifted its stake in shares of Magnolia Oil & Gas by 2.8% in the first quarter. Boston Trust Walden Corp now owns 3,178,608 shares of the company's stock worth $80,292,000 after buying an additional 88,021 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in shares of Magnolia Oil & Gas by 3.6% in the first quarter. Allspring Global Investments Holdings LLC now owns 3,175,387 shares of the company's stock worth $81,004,000 after buying an additional 110,961 shares in the last quarter. 94.73% of the stock is owned by hedge funds and other institutional investors.

Magnolia Oil & Gas Stock Down 0.7%

MGY traded down $0.16 during trading hours on Monday, hitting $23.65. 456,032 shares of the company's stock were exchanged, compared to its average volume of 2,605,771. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.20. 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 cap of $4.51 billion, a P/E ratio of 12.39, a price-to-earnings-growth ratio of 3.14 and a beta of 1.33. The firm has a 50 day moving average of $23.78 and a 200 day moving average of $23.02.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last posted its quarterly earnings results 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 net margin of 27.57% and a return on equity of 19.34%. The company had revenue of $318.98 million during the quarter, compared to analysts' expectations of $311.58 million. During the same quarter in the previous year, the business posted $0.51 EPS. The firm's revenue was down 5.3% on a year-over-year basis. Analysts predict that Magnolia Oil & Gas Corp will post 2.1 EPS for the current fiscal year.

Magnolia Oil & Gas Dividend Announcement

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

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Bank of America raised their price target on shares of Magnolia Oil & Gas from $23.00 to $25.00 and gave the stock a "neutral" rating in a research note on Friday, May 23rd. Wells Fargo & Company decreased their target price on shares of Magnolia Oil & Gas from $22.00 to $21.00 and set an "underweight" rating on the stock in a report on Monday, June 16th. Citigroup reiterated a "sell" rating on shares of Magnolia Oil & Gas in a report on Thursday, July 10th. William Blair began coverage on shares of Magnolia Oil & Gas in a report on Monday, August 25th. They issued an "outperform" rating on the stock. Finally, UBS Group reiterated a "buy" rating and issued a $29.00 target price (up from $26.00) on shares of Magnolia Oil & Gas in a report on Friday, June 13th. Four research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $26.67.

About Magnolia Oil & Gas

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.