Vest Financial LLC Sells 1,427,893 Shares of Magnolia Oil & Gas Co. (NYSE:MGY)

Vest Financial LLC cut its position in shares of Magnolia Oil & Gas Co. (NYSE:MGY - Free Report) by 93.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 93,111 shares of the company's stock after selling 1,427,893 shares during the quarter. Vest Financial LLC's holdings in Magnolia Oil & Gas were worth $2,352,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Parallel Advisors LLC grew its stake in shares of Magnolia Oil & Gas by 122.8% during the 1st quarter. Parallel Advisors LLC now owns 2,308 shares of the company's stock worth $58,000 after acquiring an additional 1,272 shares in the last quarter. GAMMA Investing LLC grew its position in Magnolia Oil & Gas by 2,696.6% in the first quarter. GAMMA Investing LLC now owns 63,706 shares of the company's stock valued at $1,609,000 after purchasing an additional 61,428 shares in the last quarter. California State Teachers Retirement System increased its stake in Magnolia Oil & Gas by 2.5% in the 4th quarter. California State Teachers Retirement System now owns 166,704 shares of the company's stock valued at $3,898,000 after buying an additional 4,004 shares during the last quarter. Phocas Financial Corp. lifted its position in Magnolia Oil & Gas by 2.2% during the 4th quarter. Phocas Financial Corp. now owns 119,349 shares of the company's stock worth $2,790,000 after buying an additional 2,548 shares in the last quarter. Finally, GF Fund Management CO. LTD. bought a new stake in Magnolia Oil & Gas during the 4th quarter worth about $1,370,000. Institutional investors and hedge funds own 94.73% of the company's stock.

Magnolia Oil & Gas Stock Performance

MGY stock traded up $0.25 during trading hours on Wednesday, hitting $23.70. 1,572,672 shares of the stock were exchanged, compared to its average volume of 2,277,447. Magnolia Oil & Gas Co. has a 12 month low of $19.09 and a 12 month high of $29.02. 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 firm has a market capitalization of $4.56 billion, a P/E ratio of 12.29, a P/E/G ratio of 3.01 and a beta of 1.29. The company has a 50-day simple moving average of $21.55 and a two-hundred day simple moving average of $23.51.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $0.55 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.53 by $0.02. Magnolia Oil & Gas had a net margin of 27.82% and a return on equity of 20.74%. The firm had revenue of $350.30 million during the quarter, compared to the consensus estimate of $337.83 million. During the same quarter in the previous year, the firm posted $0.46 EPS. The business's revenue for the quarter was up 9.7% compared to the same quarter last year. On average, analysts forecast that Magnolia Oil & Gas Co. will post 2.1 earnings per share for the current fiscal year.

Magnolia Oil & Gas Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 12th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 2.53%. The ex-dividend date was Monday, May 12th. Magnolia Oil & Gas's dividend payout ratio (DPR) is currently 29.85%.

Analyst Ratings Changes

Several research firms recently issued reports on MGY. Bank of America upped their target price on Magnolia Oil & Gas from $23.00 to $25.00 and gave the stock a "neutral" rating in a report on Friday, May 23rd. UBS Group began coverage on Magnolia Oil & Gas in a report on Tuesday, April 22nd. They issued a "buy" rating and a $26.00 price objective for the company. Piper Sandler decreased their target price on shares of Magnolia Oil & Gas from $25.00 to $24.00 and set a "neutral" rating for the company in a research note on Tuesday, May 13th. JPMorgan Chase & Co. cut 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 research note on Thursday, March 13th. Finally, Citigroup lowered their price target on Magnolia Oil & Gas from $22.00 to $19.00 and set a "sell" rating on the stock in a research report on Tuesday, April 8th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $26.93.

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.