Federated Hermes Inc. Sells 100,251 Shares of Magnolia Oil & Gas Corp (NYSE:MGY)

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

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

Magnolia Oil & Gas Trading Down 1.7%

NYSE MGY traded down $0.41 during trading on Wednesday, hitting $23.73. 2,338,331 shares of the company's stock traded hands, compared to its average volume of 2,715,363. The firm has a market cap of $4.57 billion, a P/E ratio of 12.42, a PEG ratio of 3.08 and a beta of 1.31. Magnolia Oil & Gas Corp has a 12-month low of $19.09 and a 12-month high of $29.02. The stock has a fifty day moving average of $23.30 and a two-hundred day moving average of $23.07. 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 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $318.98 million during the quarter, compared to analysts' expectations of $311.58 million. During the same quarter last year, the business posted $0.51 EPS. The business's revenue was down 5.3% on a year-over-year basis. As a group, sell-side analysts expect that Magnolia Oil & Gas Corp will post 2.1 EPS 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 given a $0.15 dividend. The ex-dividend date of this dividend is Monday, August 11th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.5%. Magnolia Oil & Gas's dividend payout ratio is currently 31.41%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Susquehanna cut their price target on Magnolia Oil & Gas from $31.00 to $30.00 and set a "positive" rating for the company in a report on Tuesday, April 22nd. Piper Sandler raised their price objective on shares of Magnolia Oil & Gas from $24.00 to $25.00 and gave the company a "neutral" rating in a research report on Thursday, July 17th. Citigroup reaffirmed a "sell" rating on shares of Magnolia Oil & Gas in a report on Thursday, July 10th. UBS Group restated a "buy" rating and set a $29.00 price target (up from $26.00) on shares of Magnolia Oil & Gas in a research report on Friday, June 13th. Finally, Wells Fargo & Company lowered their price objective on Magnolia Oil & Gas from $22.00 to $21.00 and set an "underweight" rating on the stock in a research report on Monday, June 16th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average 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.