Magnolia Oil & Gas Corp $MGY Shares Sold by Boston Trust Walden Corp

Key Points

• Boston Trust Walden Corp cut its Magnolia Oil & Gas stake by 22.6% in the first quarter, selling 940,179 shares and leaving it with 3.23 million shares worth about $101.9 million.
• Magnolia reported stronger-than-expected quarterly results, posting EPS of $0.54 versus the $0.51 consensus and revenue of $358.5 million, while also announcing a quarterly dividend of $0.165 per share.
• Wall Street remains cautious overall: analysts currently have a consensus “Hold” rating on MGY, with an average price target of $31.33, even though some firms recently raised their targets.

Boston Trust Walden Corp lowered its position in shares of Magnolia Oil & Gas Corp (NYSE:MGY - Free Report) by 22.6% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 3,227,906 shares of the company's stock after selling 940,179 shares during the quarter. Magnolia Oil & Gas comprises approximately 0.8% of Boston Trust Walden Corp's holdings, making the stock its 20th largest holding. Boston Trust Walden Corp owned approximately 1.73% of Magnolia Oil & Gas worth $101,905,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. State Street Corp increased its position in shares of Magnolia Oil & Gas by 1.4% in the fourth quarter. State Street Corp now owns 8,800,807 shares of the company's stock worth $192,650,000 after acquiring an additional 125,707 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Magnolia Oil & Gas by 4.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 6,634,362 shares of the company's stock valued at $145,230,000 after purchasing an additional 264,649 shares during the period. TD Asset Management Inc raised its position in Magnolia Oil & Gas by 26.6% in the fourth quarter. TD Asset Management Inc now owns 5,671,819 shares of the company's stock valued at $124,156,000 after purchasing an additional 1,193,458 shares during the period. Epoch Investment Partners Inc. lifted its stake in shares of Magnolia Oil & Gas by 28.8% during the fourth quarter. Epoch Investment Partners Inc. now owns 5,330,064 shares of the company's stock worth $116,675,000 after purchasing an additional 1,191,438 shares in the last quarter. Finally, Wellington Management Group LLP boosted its position in shares of Magnolia Oil & Gas by 2.2% in the third quarter. Wellington Management Group LLP now owns 5,225,168 shares of the company's stock worth $124,725,000 after buying an additional 113,458 shares during the period. Institutional investors and hedge funds own 94.73% of the company's stock.

Magnolia Oil & Gas Trading Up 0.6%

NYSE MGY opened at $25.14 on Friday. The company has a market capitalization of $4.65 billion, a price-to-earnings ratio of 14.62 and a beta of 0.70. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.10 and a quick ratio of 1.10. Magnolia Oil & Gas Corp has a 12 month low of $21.07 and a 12 month high of $32.76. The company's fifty day moving average price is $28.05 and its two-hundred day moving average price is $27.00.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last released its earnings results on Wednesday, May 6th. The company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.03. The company had revenue of $358.51 million during the quarter, compared to the consensus estimate of $349.89 million. Magnolia Oil & Gas had a net margin of 24.40% and a return on equity of 16.28%. The company's revenue was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.54 EPS. As a group, research analysts predict that Magnolia Oil & Gas Corp will post 2.83 earnings per share for the current fiscal year.

Magnolia Oil & Gas Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Tuesday, May 12th were issued a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend was Tuesday, May 12th. Magnolia Oil & Gas's dividend payout ratio (DPR) is currently 38.37%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Citigroup dropped their target price on Magnolia Oil & Gas from $35.00 to $32.00 and set a "neutral" rating on the stock in a report on Monday, April 13th. Mizuho increased their price objective on shares of Magnolia Oil & Gas from $33.00 to $35.00 and gave the company an "outperform" rating in a research report on Wednesday, May 27th. Siebert Williams Shank lowered shares of Magnolia Oil & Gas from a "buy" rating to a "hold" rating in a research note on Friday, March 6th. Weiss Ratings cut shares of Magnolia Oil & Gas from a "hold (c+)" rating to a "hold (c)" rating in a research report on Thursday, May 21st. Finally, Piper Sandler upped their target price on shares of Magnolia Oil & Gas from $28.00 to $31.00 and gave the company a "neutral" rating in a research note on Thursday, March 12th. Eight investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $31.33.

About Magnolia Oil & Gas

Magnolia Oil & Gas Corp NYSE: MGY is an independent exploration and production company focused on the acquisition, development and optimization of onshore oil and gas assets in South Texas. Headquartered in Houston, the company concentrates its efforts on the Eagle Ford Shale, where it holds significant working interests in key producing counties.

The company's core operations center on horizontal drilling and multi-stage completions designed to extract light crude oil, natural gas and natural gas liquids (NGLs).

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