Hunter Perkins Capital Management LLC Sells 240,572 Shares of Magnolia Oil & Gas Corp $MGY

Hunter Perkins Capital Management LLC reduced its stake in shares of Magnolia Oil & Gas Corp (NYSE:MGY - Free Report) by 84.8% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 43,010 shares of the company's stock after selling 240,572 shares during the quarter. Hunter Perkins Capital Management LLC's holdings in Magnolia Oil & Gas were worth $967,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. State of Wyoming raised its holdings in Magnolia Oil & Gas by 8.2% in the 1st quarter. State of Wyoming now owns 5,777 shares of the company's stock worth $146,000 after acquiring an additional 440 shares during the last quarter. Farther Finance Advisors LLC grew its stake in shares of 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. Wealth Enhancement Advisory Services LLC boosted its holdings in Magnolia Oil & Gas by 4.8% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 15,470 shares of the company's stock worth $391,000 after buying an additional 715 shares during the period. HighTower Advisors LLC lifted its holdings in shares of Magnolia Oil & Gas by 4.9% in the first quarter. HighTower Advisors LLC now owns 15,852 shares of the company's stock worth $400,000 after buying an additional 746 shares in the last quarter. Finally, Xponance Inc. lifted its position 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 worth $330,000 after buying an additional 752 shares in the last quarter. 94.73% of the stock is owned by hedge funds and other institutional investors.

Magnolia Oil & Gas Trading Up 1.6%

Shares of MGY opened at $23.63 on Monday. The firm has a 50-day moving average price of $24.06 and a 200 day moving average price of $23.11. The firm has a market capitalization of $4.51 billion, a P/E ratio of 12.37, a P/E/G ratio of 3.10 and a beta of 1.24. 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.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $0.43 EPS for the quarter, beating analysts' consensus estimates of $0.40 by $0.03. The firm had revenue of $318.98 million for the quarter, compared to analysts' expectations of $311.58 million. Magnolia Oil & Gas had a return on equity of 19.34% and a net margin of 27.57%.The firm's quarterly revenue was down 5.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.51 earnings per share. Sell-side analysts forecast that Magnolia Oil & Gas Corp will post 2.1 EPS for the current year.

Magnolia Oil & Gas Announces Dividend

The business also recently disclosed 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 of this dividend was Monday, August 11th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.5%. Magnolia Oil & Gas's dividend payout ratio (DPR) is presently 31.41%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on MGY shares. Wells Fargo & Company lowered their target price on shares of Magnolia Oil & Gas from $22.00 to $21.00 and set an "underweight" rating for the company in a report on Monday, June 16th. William Blair initiated coverage on Magnolia Oil & Gas in a report on Monday, August 25th. They issued an "outperform" rating on the stock. UBS Group reiterated a "buy" rating and set a $29.00 price objective (up previously from $26.00) on shares of Magnolia Oil & Gas in a report on Friday, June 13th. Citigroup reissued a "sell" rating on shares of Magnolia Oil & Gas in a report on Thursday, July 10th. Finally, Mizuho decreased their price objective on shares of Magnolia Oil & Gas from $26.00 to $25.00 and set a "neutral" rating for the company in a research report on Monday, September 15th. Four analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $26.42.

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.

Want to see what other hedge funds are holding MGY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Magnolia Oil & Gas Corp (NYSE:MGY - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.