Brandywine Global Investment Management LLC Sells 22,334 Shares of Magnolia Oil & Gas Corp $MGY

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

Other institutional investors and hedge funds have also modified their holdings of the company. Mariner LLC boosted its stake in shares of Magnolia Oil & Gas by 1.8% during the 4th quarter. Mariner LLC now owns 43,229 shares of the company's stock worth $1,011,000 after acquiring an additional 762 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Magnolia Oil & Gas by 4.8% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 15,470 shares of the company's stock worth $391,000 after acquiring an additional 715 shares during the last quarter. Foster Victor Wealth Advisors LLC boosted its stake in shares of Magnolia Oil & Gas by 7.1% during the 1st quarter. Foster Victor Wealth Advisors LLC now owns 336,917 shares of the company's stock worth $8,511,000 after acquiring an additional 22,402 shares during the last quarter. GF Fund Management CO. LTD. purchased a new position in shares of Magnolia Oil & Gas during the 4th quarter worth $1,370,000. Finally, Northern Trust Corp boosted its stake in shares of Magnolia Oil & Gas by 7.3% during the 4th quarter. Northern Trust Corp now owns 1,936,398 shares of the company's stock worth $45,273,000 after acquiring an additional 131,941 shares during the last quarter. Hedge funds and other institutional investors own 94.73% of the company's stock.

Magnolia Oil & Gas Price Performance

NYSE MGY traded up $0.1350 on Wednesday, reaching $23.2350. The company had a trading volume of 704,436 shares, compared to its average volume of 2,654,578. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $4.43 billion, a PE ratio of 12.16, a price-to-earnings-growth ratio of 3.01 and a beta of 1.31. The firm's 50 day moving average price is $23.53 and its 200 day moving average price is $22.95. Magnolia Oil & Gas Corp has a 12 month low of $19.09 and a 12 month high of $29.02.

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

Magnolia Oil & Gas Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders 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 dividend yield of 2.6%. Magnolia Oil & Gas's payout ratio is 31.41%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Wells Fargo & Company lowered their target price on shares of Magnolia Oil & Gas from $22.00 to $21.00 and set an "underweight" rating on the stock in a research note on Monday, June 16th. Piper Sandler lifted their target price on shares of Magnolia Oil & Gas from $24.00 to $25.00 and gave the company a "neutral" rating in a research note on Thursday, July 17th. UBS Group restated a "buy" rating and set a $29.00 target price (up previously from $26.00) on shares of Magnolia Oil & Gas in a research note on Friday, June 13th. Citigroup restated a "sell" rating on shares of Magnolia Oil & Gas in a research note on Thursday, July 10th. Finally, Bank of America lifted their target price on shares of Magnolia Oil & Gas from $23.00 to $25.00 and gave the company a "neutral" rating in a research note on Friday, May 23rd. Three analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Magnolia Oil & Gas has an average rating of "Hold" and a consensus target price of $26.67.

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.