Federated Hermes Inc. Trims Stake in Magnolia Oil & Gas Corp (NYSE:MGY)

Federated Hermes Inc. decreased its holdings in Magnolia Oil & Gas Corp (NYSE:MGY - Free Report) by 45.5% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 120,234 shares of the company's stock after selling 100,251 shares during the quarter. Federated Hermes Inc. owned 0.06% of Magnolia Oil & Gas worth $3,037,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. OneDigital Investment Advisors LLC raised its position in shares of Magnolia Oil & Gas by 3.0% in the fourth quarter. OneDigital Investment Advisors LLC now owns 15,768 shares of the company's stock valued at $369,000 after buying an additional 464 shares in the last quarter. Summit Investment Advisors Inc. lifted its position in shares of Magnolia Oil & Gas by 3.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 18,119 shares of the company's stock valued at $424,000 after acquiring an additional 574 shares during the period. Farther Finance Advisors LLC lifted its position in shares of Magnolia Oil & Gas by 16.8% during the 1st quarter. Farther Finance Advisors LLC now owns 4,366 shares of the company's stock valued at $111,000 after acquiring an additional 629 shares during the period. BOKF NA grew its holdings in shares of Magnolia Oil & Gas by 3.9% during the 4th quarter. BOKF NA now owns 19,014 shares of the company's stock worth $473,000 after purchasing an additional 713 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its position in shares of Magnolia Oil & Gas by 4.8% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 15,470 shares of the company's stock worth $391,000 after purchasing an additional 715 shares during the period. Institutional investors own 94.73% of the company's stock.

Wall Street Analysts Forecast Growth

MGY has been the subject of a number of recent analyst reports. Susquehanna cut their price target on shares of Magnolia Oil & Gas from $31.00 to $30.00 and set a "positive" rating for the company in a report on Tuesday, April 22nd. UBS Group reissued a "buy" rating and issued a $29.00 price target (up previously from $26.00) on shares of Magnolia Oil & Gas in a research note on Friday, June 13th. Piper Sandler increased their price target on Magnolia Oil & Gas from $24.00 to $25.00 and gave the stock a "neutral" rating in a report on Thursday, July 17th. Citigroup restated a "sell" rating on shares of Magnolia Oil & Gas in a report on Thursday, July 10th. Finally, Bank of America lifted their price target on shares of Magnolia Oil & Gas from $23.00 to $25.00 and gave the company a "neutral" rating in a research report on Friday, May 23rd. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Magnolia Oil & Gas currently has a consensus rating of "Hold" and a consensus target price of $26.67.

Magnolia Oil & Gas Trading Up 0.3%

NYSE MGY traded up $0.07 during trading on Friday, hitting $23.45. The stock had a trading volume of 843,844 shares, compared to its average volume of 2,701,178. The stock has a 50 day simple moving average of $23.37 and a 200 day simple moving average of $23.06. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.44 and a current ratio of 1.44. The stock has a market capitalization of $4.51 billion, a price-to-earnings ratio of 12.27, a P/E/G ratio of 3.07 and a beta of 1.31. Magnolia Oil & Gas Corp has a one year low of $19.09 and a one year high of $29.02.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $0.43 earnings per share for the quarter, topping 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 company had revenue of $318.98 million during the quarter, compared to analyst estimates of $311.58 million. During the same quarter in the prior year, the business earned $0.51 earnings per share. Magnolia Oil & Gas's revenue was down 5.3% on a year-over-year basis. Sell-side analysts predict that Magnolia Oil & Gas Corp will post 2.1 earnings per share for the current year.

Magnolia Oil & Gas Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Monday, August 11th will be paid 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 dividend payout ratio is presently 31.41%.

About Magnolia Oil & Gas

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.