Stephens Investment Management Group LLC Sells 293,375 Shares of Magnolia Oil & Gas Corp (NYSE:MGY)

Stephens Investment Management Group LLC trimmed its position in shares of Magnolia Oil & Gas Corp (NYSE:MGY - Free Report) by 10.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,413,961 shares of the company's stock after selling 293,375 shares during the quarter. Stephens Investment Management Group LLC owned approximately 1.24% of Magnolia Oil & Gas worth $60,977,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Magnolia Oil & Gas by 2.2% during the fourth quarter. Vanguard Group Inc. now owns 20,938,200 shares of the company's stock valued at $489,535,000 after purchasing an additional 452,836 shares in the last quarter. First Trust Advisors LP lifted its stake in shares of Magnolia Oil & Gas by 24.6% in the fourth quarter. First Trust Advisors LP now owns 15,410,496 shares of the company's stock worth $360,297,000 after acquiring an additional 3,038,709 shares during the period. Janus Henderson Group PLC lifted its stake in shares of Magnolia Oil & Gas by 11.7% in the fourth quarter. Janus Henderson Group PLC now owns 6,396,875 shares of the company's stock worth $149,559,000 after acquiring an additional 667,973 shares during the period. Wellington Management Group LLP lifted its stake in shares of Magnolia Oil & Gas by 0.5% in the fourth quarter. Wellington Management Group LLP now owns 5,020,646 shares of the company's stock worth $117,383,000 after acquiring an additional 26,943 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Magnolia Oil & Gas by 1.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,768,047 shares of the company's stock worth $111,475,000 after acquiring an additional 86,166 shares during the period. 94.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on MGY shares. Wells Fargo & Company cut their price objective on 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. Citigroup reaffirmed a "sell" rating on shares of Magnolia Oil & Gas in a research note on Thursday. Piper Sandler lowered their target price on Magnolia Oil & Gas from $25.00 to $24.00 and set a "neutral" rating for the company in a report on Tuesday, May 13th. Bank of America lifted their target price on Magnolia Oil & Gas from $23.00 to $25.00 and gave the stock a "neutral" rating in a report on Friday, May 23rd. Finally, UBS Group reiterated a "buy" rating and issued a $29.00 target price (up from $26.00) on shares of Magnolia Oil & Gas in a report on Friday, June 13th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $27.00.

Magnolia Oil & Gas Stock Down 0.8%

Shares of NYSE:MGY traded down $0.18 during mid-day trading on Monday, hitting $23.64. 2,086,249 shares of the company traded hands, compared to its average volume of 2,379,561. The stock has a market cap of $4.55 billion, a P/E ratio of 11.76, a P/E/G ratio of 3.23 and a beta of 1.28. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.20. Magnolia Oil & Gas Corp has a 12-month low of $19.09 and a 12-month high of $29.02. The stock has a 50-day moving average price of $22.76 and a two-hundred day moving average price of $23.17.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.02. Magnolia Oil & Gas had a return on equity of 20.73% and a net margin of 28.50%. The company had revenue of $350.30 million for the quarter, compared to analysts' expectations of $337.83 million. During the same quarter in the previous year, the firm earned $0.46 earnings per share. Magnolia Oil & Gas's quarterly revenue was up 9.7% on a year-over-year basis. On average, equities research analysts forecast that Magnolia Oil & Gas Corp will post 2.1 earnings per share for the current year.

Magnolia Oil & Gas Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 12th were paid a $0.15 dividend. The ex-dividend date was Monday, May 12th. This represents a $0.60 dividend on an annualized basis and a yield of 2.54%. Magnolia Oil & Gas's dividend payout ratio is currently 29.85%.

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.