TD Asset Management Inc Reduces Stock Holdings in Magnolia Oil & Gas Corp $MGY

TD Asset Management Inc lowered its stake in shares of Magnolia Oil & Gas Corp (NYSE:MGY - Free Report) by 5.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,876,552 shares of the company's stock after selling 156,715 shares during the quarter. TD Asset Management Inc owned approximately 1.49% of Magnolia Oil & Gas worth $64,665,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Farther Finance Advisors LLC lifted its position in Magnolia Oil & Gas by 16.8% in the first 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 last quarter. GAMMA Investing LLC increased its position in shares of Magnolia Oil & Gas by 98.6% during the second quarter. GAMMA Investing LLC now owns 5,009 shares of the company's stock worth $113,000 after purchasing an additional 2,487 shares in the last quarter. Smartleaf Asset Management LLC lifted its holdings in shares of Magnolia Oil & Gas by 34.3% in the 1st quarter. Smartleaf Asset Management LLC now owns 5,072 shares of the company's stock valued at $128,000 after purchasing an additional 1,295 shares during the last quarter. Pacer Advisors Inc. acquired a new stake in shares of Magnolia Oil & Gas in the 1st quarter valued at about $136,000. Finally, State of Wyoming boosted its position in shares of Magnolia Oil & Gas by 8.2% in the 1st quarter. State of Wyoming now owns 5,777 shares of the company's stock valued at $146,000 after purchasing an additional 440 shares during the period. 94.73% of the stock is owned by hedge funds and other institutional investors.

Magnolia Oil & Gas Price Performance

Shares of NYSE MGY opened at $23.24 on Thursday. The stock has a fifty day moving average price of $23.97 and a 200 day moving average price of $23.04. Magnolia Oil & Gas Corp has a 1-year low of $19.09 and a 1-year high of $29.02. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.44 and a quick ratio of 1.44. The company has a market cap of $4.43 billion, a PE ratio of 12.17, a P/E/G ratio of 3.05 and a beta of 1.24.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $0.43 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.40 by $0.03. The business had revenue of $318.98 million for the quarter, compared to analyst estimates of $311.58 million. Magnolia Oil & Gas had a net margin of 27.57% and a return on equity of 19.34%. The business's revenue was down 5.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.51 earnings per share. Sell-side analysts forecast that Magnolia Oil & Gas Corp will post 2.1 EPS for the current year.

Magnolia Oil & Gas Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 11th were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was 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 31.41%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. William Blair started coverage on Magnolia Oil & Gas in a research report on Monday, August 25th. They set an "outperform" rating on the stock. Piper Sandler lifted their target price on shares of Magnolia Oil & Gas from $24.00 to $25.00 and gave the company a "neutral" rating in a report on Thursday, July 17th. Weiss Ratings reiterated a "hold (c)" rating on shares of Magnolia Oil & Gas in a research report on Wednesday, October 8th. Citigroup reissued a "sell" rating on shares of Magnolia Oil & Gas in a research report on Thursday, July 10th. Finally, KeyCorp set a $29.00 price objective on shares of Magnolia Oil & Gas and gave the company an "overweight" rating in a research note on Wednesday. Five analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $26.33.

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.

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