Magnolia Oil & Gas Co. (NYSE:MGY) Shares Sold by Vest Financial LLC

Vest Financial LLC decreased its holdings in Magnolia Oil & Gas Co. (NYSE:MGY - Free Report) by 93.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (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.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Mather Group LLC. raised its stake in Magnolia Oil & Gas by 100.0% in the fourth quarter. Mather Group LLC. now owns 1,090 shares of the company's stock valued at $25,000 after buying an additional 545 shares during the last quarter. Larson Financial Group LLC lifted its position in Magnolia Oil & Gas by 112.3% during the fourth quarter. Larson Financial Group LLC now owns 1,072 shares of the company's stock valued at $25,000 after purchasing an additional 567 shares during the period. Quarry LP boosted its stake in shares of 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 buying an additional 1,949 shares during the last quarter. Parallel Advisors LLC boosted its position in Magnolia Oil & Gas by 122.8% in the 1st quarter. Parallel Advisors LLC now owns 2,308 shares of the company's stock worth $58,000 after purchasing an additional 1,272 shares in the last quarter. Finally, Smartleaf Asset Management LLC boosted its holdings in Magnolia Oil & Gas by 95.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 3,777 shares of the company's stock worth $88,000 after buying an additional 1,844 shares in the last quarter. 94.73% of the stock is currently owned by hedge funds and other institutional investors.

Magnolia Oil & Gas Price Performance

NYSE MGY traded up $0.45 during trading hours on Monday, hitting $23.20. 1,352,102 shares of the company's stock traded hands, compared to its average volume of 2,270,110. The company has a market capitalization of $4.47 billion, a PE ratio of 12.02, a PEG ratio of 3.01 and a beta of 1.29. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.42 and a quick ratio of 1.47. Magnolia Oil & Gas Co. has a 52-week low of $19.09 and a 52-week high of $29.02. The firm's 50-day moving average is $21.60 and its 200-day moving average is $23.55.

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

Magnolia Oil & Gas Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 12th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.59%. The ex-dividend date of this dividend was Monday, May 12th. Magnolia Oil & Gas's dividend payout ratio (DPR) is presently 29.85%.

Wall Street Analysts Forecast Growth

MGY has been the subject of a number of analyst reports. Bank of America upped their price target on Magnolia Oil & Gas from $23.00 to $25.00 and gave the stock a "neutral" rating in a report on Friday, May 23rd. Citigroup reduced their target price on Magnolia Oil & Gas from $22.00 to $19.00 and set a "sell" rating for the company in a research note on Tuesday, April 8th. Williams Trading set a $29.00 price target on shares of Magnolia Oil & Gas in a research note on Wednesday, March 5th. Susquehanna reduced their price objective 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. Finally, JPMorgan Chase & Co. dropped their target price on shares of Magnolia Oil & Gas from $28.00 to $24.00 and set a "neutral" rating on the stock in a research report on Thursday, March 13th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $26.93.

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.