Hunter Perkins Capital Management LLC Cuts Stock Position in Magnolia Oil & Gas Corp (NYSE:MGY)

Hunter Perkins Capital Management LLC lowered its position in shares of Magnolia Oil & Gas Corp (NYSE:MGY - Free Report) by 17.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 283,582 shares of the company's stock after selling 58,983 shares during the quarter. Magnolia Oil & Gas makes up about 1.7% of Hunter Perkins Capital Management LLC's holdings, making the stock its 18th largest holding. Hunter Perkins Capital Management LLC owned 0.15% of Magnolia Oil & Gas worth $7,163,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Isthmus Partners LLC boosted its position in Magnolia Oil & Gas by 5.2% during the fourth quarter. Isthmus Partners LLC now owns 9,320 shares of the company's stock worth $218,000 after acquiring an additional 460 shares during the last quarter. OneDigital Investment Advisors LLC raised its holdings in Magnolia Oil & Gas by 3.0% in the 4th quarter. OneDigital Investment Advisors LLC now owns 15,768 shares of the company's stock valued at $369,000 after acquiring an additional 464 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in Magnolia Oil & Gas by 1.4% in the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 40,783 shares of the company's stock worth $954,000 after purchasing an additional 564 shares in the last quarter. Larson Financial Group LLC boosted its holdings in shares of Magnolia Oil & Gas by 112.3% during the 4th quarter. Larson Financial Group LLC now owns 1,072 shares of the company's stock worth $25,000 after purchasing an additional 567 shares during the last quarter. Finally, Summit Investment Advisors Inc. boosted its holdings in shares of Magnolia Oil & Gas by 3.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 18,119 shares of the company's stock worth $424,000 after purchasing an additional 574 shares during the last quarter. Institutional investors and hedge funds own 94.73% of the company's stock.

Magnolia Oil & Gas Trading Down 0.8%

MGY stock traded down $0.19 during mid-day trading on Friday, hitting $22.98. 8,280,797 shares of the company were exchanged, compared to its average volume of 2,331,501. 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 $4.42 billion, a P/E ratio of 11.43, a PEG ratio of 3.05 and a beta of 1.29. The business has a fifty day simple moving average of $22.28 and a 200-day simple moving average of $23.25. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.20.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.53 by $0.02. Magnolia Oil & Gas had a net margin of 28.50% and a return on equity of 20.73%. The firm had revenue of $350.30 million for the quarter, compared to analyst estimates of $337.83 million. During the same period in the prior year, the business posted $0.46 EPS. The business's revenue for the quarter was up 9.7% compared to the same quarter last year. On average, equities research analysts predict that Magnolia Oil & Gas Corp will post 2.1 earnings per share for the current fiscal year.

Magnolia Oil & Gas Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 12th were given a dividend of $0.15 per share. The ex-dividend date was Monday, May 12th. This represents a $0.60 annualized dividend and a dividend yield of 2.61%. Magnolia Oil & Gas's dividend payout ratio is currently 29.85%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on MGY shares. Bank of America lifted their price objective on Magnolia Oil & Gas from $23.00 to $25.00 and gave the stock a "neutral" rating in a research report on Friday, May 23rd. UBS Group reiterated a "buy" rating and set a $29.00 price target (up previously from $26.00) on shares of Magnolia Oil & Gas in a report on Friday, June 13th. Susquehanna lowered their price target on shares of Magnolia Oil & Gas from $31.00 to $30.00 and set a "positive" rating on the stock in a research report on Tuesday, April 22nd. Piper Sandler dropped their price objective 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. Finally, JPMorgan Chase & Co. cut their price objective on shares of Magnolia Oil & Gas from $28.00 to $24.00 and set a "neutral" rating for the company in a research report on Thursday, March 13th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $27.00.

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.