Magnolia Oil & Gas Corp $MGY Shares Sold by Brandywine Global Investment Management LLC

Key Points

• Brandywine Global Investment Management LLC reduced its stake in Magnolia Oil & Gas Corp by 3.8%, now holding 563,418 shares valued at approximately $14.2 million.
• Magnolia Oil & Gas reported $0.43 earnings per share for the last quarter, exceeding expectations, with revenues of $318.98 million, though down 5.3% year-over-year.
• The company declared a quarterly dividend of $0.15 per share, contributing to an annual yield of 2.5% with a payout ratio of 31.41%.

Brandywine Global Investment Management LLC reduced its position in shares of Magnolia Oil & Gas Corp (NYSE:MGY - Free Report) by 3.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 563,418 shares of the company's stock after selling 22,334 shares during the period. Brandywine Global Investment Management LLC owned 0.29% of Magnolia Oil & Gas worth $14,232,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of MGY. Opal Wealth Advisors LLC purchased a new stake in Magnolia Oil & Gas during the 1st quarter worth approximately $30,000. Quarry LP increased its stake in Magnolia Oil & Gas by 1,047.8% during the 4th quarter. Quarry LP now owns 2,135 shares of the company's stock worth $50,000 after buying an additional 1,949 shares in the last quarter. Parallel Advisors LLC increased its stake in 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 buying an additional 1,272 shares in the last quarter. Farther Finance Advisors LLC increased its stake in Magnolia Oil & Gas by 16.8% during the 1st quarter. Farther Finance Advisors LLC now owns 4,366 shares of the company's stock worth $111,000 after buying an additional 629 shares in the last quarter. Finally, Pacer Advisors Inc. purchased a new stake in Magnolia Oil & Gas during the 1st quarter worth approximately $136,000. 94.73% of the stock is currently owned by hedge funds and other institutional investors.

Magnolia Oil & Gas Trading Up 0.5%

MGY traded up $0.1260 during trading hours on Thursday, reaching $23.2860. The company's stock had a trading volume of 252,654 shares, compared to its average volume of 2,643,607. Magnolia Oil & Gas Corp has a fifty-two week low of $19.09 and a fifty-two week high of $29.02. The stock has a market cap of $4.44 billion, a PE ratio of 12.18, a P/E/G ratio of 2.99 and a beta of 1.31. The business's 50-day moving average is $23.52 and its 200-day moving average is $22.95. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.44 and a quick ratio of 1.44.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $0.43 EPS for the quarter, beating analysts' consensus estimates of $0.40 by $0.03. Magnolia Oil & Gas had a return on equity of 19.34% and a net margin of 27.57%.The firm had revenue of $318.98 million for the quarter, compared to analysts' expectations of $311.58 million. During the same period in the prior year, the firm posted $0.51 earnings per share. The firm's quarterly revenue was down 5.3% on a year-over-year basis. As a group, equities research analysts predict that Magnolia Oil & Gas Corp will post 2.1 earnings per share for the current fiscal year.

Magnolia Oil & Gas Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Monday, August 11th will be issued a $0.15 dividend. The ex-dividend date is Monday, August 11th. This represents a $0.60 dividend on an annualized basis and a yield of 2.6%. Magnolia Oil & Gas's dividend payout ratio is currently 31.41%.

Wall Street Analysts Forecast Growth

Several research firms have commented on MGY. Wells Fargo & Company cut their price objective on Magnolia Oil & Gas from $22.00 to $21.00 and set an "underweight" rating for the company in a research note on Monday, June 16th. Piper Sandler upped their price target on Magnolia Oil & Gas from $24.00 to $25.00 and gave the company a "neutral" rating in a research report on Thursday, July 17th. Bank of America upped their price target on Magnolia Oil & Gas from $23.00 to $25.00 and gave the company a "neutral" rating in a research report on Friday, May 23rd. Citigroup restated a "sell" rating on shares of Magnolia Oil & Gas in a research report on Thursday, July 10th. Finally, UBS Group restated a "buy" rating and issued a $29.00 price target (up from $26.00) on shares of Magnolia Oil & Gas in a research report on Friday, June 13th. Three investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $26.67.

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.