GW&K Investment Management LLC Sells 59,314 Shares of Magnolia Oil & Gas Corp (NYSE:MGY)

GW&K Investment Management LLC lessened its stake in shares of Magnolia Oil & Gas Corp (NYSE:MGY - Free Report) by 1.7% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 3,424,841 shares of the company's stock after selling 59,314 shares during the period. Magnolia Oil & Gas accounts for about 0.8% of GW&K Investment Management LLC's investment portfolio, making the stock its 19th biggest holding. GW&K Investment Management LLC owned approximately 1.76% of Magnolia Oil & Gas worth $86,512,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the stock. Opal Wealth Advisors LLC bought a new stake in Magnolia Oil & Gas during the first quarter worth approximately $30,000. Quarry LP grew its stake in Magnolia Oil & Gas by 1,047.8% in the fourth quarter. Quarry LP now owns 2,135 shares of the company's stock worth $50,000 after purchasing an additional 1,949 shares in the last quarter. Parallel Advisors LLC boosted its position 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 in the last quarter. Farther Finance Advisors LLC boosted its position 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 in the last quarter. Finally, Headlands Technologies LLC purchased a new stake in shares of Magnolia Oil & Gas during the 4th quarter valued at $161,000. Institutional investors own 94.73% of the company's stock.

Magnolia Oil & Gas Stock Up 0.1%

MGY stock opened at $23.12 on Monday. Magnolia Oil & Gas Corp has a 52-week low of $19.09 and a 52-week high of $29.02. The company's 50 day simple moving average is $22.95 and its 200-day simple moving average is $23.17. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.33 and a quick ratio of 1.33. The firm has a market capitalization of $4.45 billion, a P/E ratio of 11.50, a P/E/G ratio of 3.05 and a beta of 1.28.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.02. The firm had revenue of $350.30 million for 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 revenue for the quarter was up 9.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.46 EPS. As a group, equities research analysts anticipate that Magnolia Oil & Gas Corp will post 2.1 EPS for the current year.

Magnolia Oil & Gas Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 12th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 2.60%. The ex-dividend date of this dividend was Monday, May 12th. Magnolia Oil & Gas's dividend payout ratio is currently 29.85%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on MGY shares. Piper Sandler raised their target price on Magnolia Oil & Gas from $24.00 to $25.00 and gave the company a "neutral" rating in a research report on Thursday. Citigroup reaffirmed a "sell" rating on shares of Magnolia Oil & Gas in a research report on Thursday, July 10th. Susquehanna lowered their target price on shares of Magnolia Oil & Gas from $31.00 to $30.00 and set a "positive" rating for the company in a research note on Tuesday, April 22nd. UBS Group restated 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. Finally, 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 report on Friday, May 23rd. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $26.67.

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.

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