TD Asset Management Inc Trims Stock Holdings in Magnolia Oil & Gas Corp (NYSE:MGY)

Key Points

• TD Asset Management Inc has reduced its stake in Magnolia Oil & Gas Corp by 2.6%, now owning approximately 1.56% of the company valued at $76.62 million.
• Magnolia Oil & Gas has reported a quarterly EPS of $0.55, exceeding analysts' expectations, with year-over-year revenue growth of 9.7%.
• The company has declared a quarterly dividend of $0.15 per share, representing a yield of 2.53% and a payout ratio of 29.85%.

TD Asset Management Inc lowered its stake in Magnolia Oil & Gas Corp (NYSE:MGY - Free Report) by 2.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,033,267 shares of the company's stock after selling 81,943 shares during the period. TD Asset Management Inc owned about 1.56% of Magnolia Oil & Gas worth $76,620,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of MGY. Opal Wealth Advisors LLC acquired a new stake in Magnolia Oil & Gas in the 1st quarter valued at about $30,000. Quarry LP raised its position in shares of Magnolia Oil & Gas by 1,047.8% during the 4th quarter. Quarry LP now owns 2,135 shares of the company's stock worth $50,000 after acquiring an additional 1,949 shares in the last quarter. Parallel Advisors LLC raised its position in shares of Magnolia Oil & Gas by 122.8% during the 1st quarter. Parallel Advisors LLC now owns 2,308 shares of the company's stock worth $58,000 after acquiring an additional 1,272 shares in the last quarter. Farther Finance Advisors LLC raised 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 worth $111,000 after acquiring an additional 629 shares in the last quarter. Finally, Pacer Advisors Inc. acquired a new stake in shares of Magnolia Oil & Gas during the 1st quarter worth about $136,000. Institutional investors and hedge funds own 94.73% of the company's stock.

Magnolia Oil & Gas Price Performance

MGY stock traded down $0.55 on Thursday, reaching $23.84. 1,257,767 shares of the company's stock were exchanged, compared to its average volume of 2,674,191. The stock has a fifty day moving average of $23.14 and a 200-day moving average of $23.16. Magnolia Oil & Gas Corp has a twelve month low of $19.09 and a twelve month high of $29.02. The firm has a market cap of $4.59 billion, a PE ratio of 11.87, a P/E/G ratio of 3.21 and a beta of 1.28. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.20.

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

Magnolia Oil & Gas Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Monday, August 11th will be given a dividend of $0.15 per share. The ex-dividend date is Monday, August 11th. This represents a $0.60 dividend on an annualized basis and a yield of 2.52%. Magnolia Oil & Gas's payout ratio is 29.85%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on MGY shares. Susquehanna cut their target price on Magnolia Oil & Gas from $31.00 to $30.00 and set a "positive" rating on the stock in a research report on Tuesday, April 22nd. Bank of America raised their target price on Magnolia Oil & Gas from $23.00 to $25.00 and gave the stock a "neutral" rating in a research report on Friday, May 23rd. Citigroup reissued a "sell" rating on shares of Magnolia Oil & Gas in a research report on Thursday, July 10th. Wells Fargo & Company cut their target price 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. Finally, Piper Sandler lifted their price target on Magnolia Oil & Gas from $24.00 to $25.00 and gave the stock a "neutral" rating in a research report on Thursday, July 17th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Magnolia Oil & Gas presently has an average rating of "Hold" and an average price target 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.