Rhumbline Advisers Reduces Stock Position in Magnolia Oil & Gas Co. (NYSE:MGY)

Rhumbline Advisers lowered its position in shares of Magnolia Oil & Gas Co. (NYSE:MGY - Free Report) by 2.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 525,411 shares of the company's stock after selling 14,023 shares during the period. Rhumbline Advisers owned about 0.27% of Magnolia Oil & Gas worth $13,272,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its position in Magnolia Oil & Gas by 2.2% in the 4th quarter. Vanguard Group Inc. now owns 20,938,200 shares of the company's stock worth $489,535,000 after purchasing an additional 452,836 shares during the period. First Trust Advisors LP increased its holdings in shares of Magnolia Oil & Gas by 24.6% in the fourth quarter. First Trust Advisors LP now owns 15,410,496 shares of the company's stock worth $360,297,000 after buying an additional 3,038,709 shares during the period. Janus Henderson Group PLC increased its holdings 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 during the period. Wellington Management Group LLP lifted its stake in shares of Magnolia Oil & Gas by 0.5% in the 4th quarter. Wellington Management Group LLP now owns 5,020,646 shares of the company's stock valued at $117,383,000 after acquiring an additional 26,943 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Magnolia Oil & Gas by 1.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,768,047 shares of the company's stock valued at $111,475,000 after acquiring an additional 86,166 shares during the period. 94.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on MGY shares. UBS Group initiated coverage on Magnolia Oil & Gas in a research note on Tuesday, April 22nd. They issued a "buy" rating and a $26.00 price target on the stock. JPMorgan Chase & Co. lowered their price target on shares of Magnolia Oil & Gas from $28.00 to $24.00 and set a "neutral" rating for the company in a report on Thursday, March 13th. Susquehanna dropped their price target on shares of Magnolia Oil & Gas from $31.00 to $30.00 and set a "positive" rating for the company in a research report on Tuesday, April 22nd. Piper Sandler decreased their price objective on shares of Magnolia Oil & Gas from $25.00 to $24.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 13th. Finally, Williams Trading set a $29.00 target price on Magnolia Oil & Gas in a report on Wednesday, March 5th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $26.85.

Magnolia Oil & Gas Stock Down 0.7%

NYSE:MGY traded down $0.16 on Thursday, reaching $23.59. 2,231,486 shares of the stock traded hands, compared to its average volume of 2,284,494. The company has a current ratio of 1.42, a quick ratio of 1.47 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $4.54 billion, a price-to-earnings ratio of 12.22, a PEG ratio of 3.01 and a beta of 1.29. Magnolia Oil & Gas Co. has a 12 month low of $19.09 and a 12 month high of $29.02. The company's fifty day simple moving average is $21.60 and its 200 day simple moving average is $23.52.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last announced its quarterly earnings results 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 company had revenue of $350.30 million during the quarter, compared to the consensus estimate of $337.83 million. Magnolia Oil & Gas had a net margin of 27.82% and a return on equity of 20.74%. The firm's quarterly revenue was up 9.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.46 earnings per share. Equities analysts predict that Magnolia Oil & Gas Co. will post 2.1 EPS for the current fiscal year.

Magnolia Oil & Gas Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 12th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 2.54%. The ex-dividend date of this dividend was Monday, May 12th. Magnolia Oil & Gas's dividend payout ratio is currently 29.85%.

Magnolia Oil & Gas Company 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.