Stephens Investment Management Group LLC Sells 118,214 Shares of Magnolia Oil & Gas Corp $MGY

Key Points

• Stephens Investment Management Group LLC reduced its holdings in Magnolia Oil & Gas Corp by 4.9%, selling 118,214 shares and now owns 2,295,747 shares worth approximately $51.6 million.
• Magnolia Oil & Gas recently reported earnings of $0.43 EPS, beating estimates, with revenue of $318.98 million for the quarter, though revenue decreased 5.3% year-over-year.
• The company declared a quarterly dividend of $0.15, resulting in an annualized yield of 2.6% and a payout ratio of 31.41%.

Stephens Investment Management Group LLC lowered its holdings in shares of Magnolia Oil & Gas Corp (NYSE:MGY - Free Report) by 4.9% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 2,295,747 shares of the company's stock after selling 118,214 shares during the period. Stephens Investment Management Group LLC owned 1.19% of Magnolia Oil & Gas worth $51,608,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. State of Wyoming grew its holdings in Magnolia Oil & Gas by 8.2% during the first quarter. State of Wyoming now owns 5,777 shares of the company's stock worth $146,000 after purchasing an additional 440 shares during the period. Vista Finance LLC boosted its holdings in shares of Magnolia Oil & Gas by 4.0% during the second quarter. Vista Finance LLC now owns 12,134 shares of the company's stock worth $273,000 after acquiring an additional 471 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Magnolia Oil & Gas by 4.8% during the first 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 period. HighTower Advisors LLC boosted its holdings in shares of Magnolia Oil & Gas by 4.9% during the first quarter. HighTower Advisors LLC now owns 15,852 shares of the company's stock worth $400,000 after acquiring an additional 746 shares during the period. Finally, Xponance Inc. boosted its holdings in shares of Magnolia Oil & Gas by 6.1% during the first quarter. Xponance Inc. now owns 13,051 shares of the company's stock worth $330,000 after acquiring an additional 752 shares during the period. Institutional investors own 94.73% of the company's stock.

Magnolia Oil & Gas Stock Performance

Shares of Magnolia Oil & Gas stock opened at $22.78 on Wednesday. Magnolia Oil & Gas Corp has a one year low of $19.09 and a one year high of $29.02. The firm has a market capitalization of $4.35 billion, a price-to-earnings ratio of 11.92, a PEG ratio of 3.07 and a beta of 1.24. The business has a 50-day simple moving average of $23.92 and a 200 day simple moving average of $22.99. 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 issued its earnings results 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 business had revenue of $318.98 million during the quarter, compared to analyst estimates of $311.58 million. During the same period in the previous year, the company posted $0.51 EPS. The firm's revenue was down 5.3% compared to the same quarter last year. On average, research analysts anticipate that Magnolia Oil & Gas Corp will post 2.1 earnings per share for the current fiscal year.

Magnolia Oil & Gas Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 11th were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend was Monday, August 11th. Magnolia Oil & Gas's payout ratio is presently 31.41%.

Wall Street Analyst Weigh In

MGY has been the subject of a number of research analyst reports. Citigroup restated a "sell" rating on shares of Magnolia Oil & Gas in a report on Thursday, July 10th. KeyCorp set a $29.00 price objective on Magnolia Oil & Gas and gave the stock an "overweight" rating in a report on Wednesday, October 15th. Piper Sandler boosted their price objective on Magnolia Oil & Gas from $24.00 to $25.00 and gave the stock a "neutral" rating in a report on Thursday, July 17th. Mizuho reduced their price objective on Magnolia Oil & Gas from $26.00 to $25.00 and set a "neutral" rating for the company in a report on Monday, September 15th. Finally, William Blair started coverage on Magnolia Oil & Gas in a report on Monday, August 25th. They set an "outperform" rating for the company. Five research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Magnolia Oil & Gas currently has an average rating of "Hold" and an average price target of $26.33.

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.

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