Vest Financial LLC Cuts Stake in Magnolia Oil & Gas Corp $MGY

Key Points

• Vest Financial LLC reduced its stake in Magnolia Oil & Gas Corp by 14.1%, selling off 13,096 shares and holding 80,015 shares valued at approximately $1.8 million.
• Magnolia Oil & Gas announced a quarterly dividend of $0.15 per share, leading to an annualized dividend of $0.60 and a dividend yield of 2.6%.
• In its most recent earnings report, Magnolia Oil & Gas posted an EPS of $0.43, exceeding expectations, but reported a 5.3% decline in revenue compared to the same quarter last year.

Vest Financial LLC lowered its position in shares of Magnolia Oil & Gas Corp (NYSE:MGY - Free Report) by 14.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 80,015 shares of the company's stock after selling 13,096 shares during the period. Vest Financial LLC's holdings in Magnolia Oil & Gas were worth $1,799,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in MGY. Opal Wealth Advisors LLC bought a new stake in Magnolia Oil & Gas during the first quarter valued at about $30,000. Farther Finance Advisors LLC boosted its position 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 valued at $111,000 after purchasing an additional 629 shares in the last quarter. GAMMA Investing LLC boosted its position in Magnolia Oil & Gas by 98.6% during the second quarter. GAMMA Investing LLC now owns 5,009 shares of the company's stock valued at $113,000 after purchasing an additional 2,487 shares in the last quarter. Smartleaf Asset Management LLC boosted its position in Magnolia Oil & Gas by 34.3% during the first 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 in the last quarter. Finally, Pacer Advisors Inc. bought a new stake in Magnolia Oil & Gas during the first quarter valued at about $136,000. Hedge funds and other institutional investors own 94.73% of the company's stock.

Magnolia Oil & Gas Price Performance

Shares of NYSE MGY opened at $23.08 on Wednesday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.44 and a current ratio of 1.44. Magnolia Oil & Gas Corp has a fifty-two week low of $19.09 and a fifty-two week high of $29.02. The company has a market cap of $4.40 billion, a PE ratio of 12.08, a P/E/G ratio of 3.08 and a beta of 1.24. The business has a 50-day simple moving average of $23.98 and a two-hundred day simple moving average of $23.04.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported $0.43 EPS for the quarter, topping 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 firm had revenue of $318.98 million during the quarter, compared to the consensus estimate of $311.58 million. During the same quarter in the previous year, the company posted $0.51 earnings per share. The company's revenue was down 5.3% compared to the same quarter last year. As a group, equities analysts expect that Magnolia Oil & Gas Corp will post 2.1 EPS for the current fiscal year.

Magnolia Oil & Gas Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 11th were issued 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 payout ratio is 31.41%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Magnolia Oil & Gas in a research report on Wednesday, October 8th. Mizuho dropped their price objective on Magnolia Oil & Gas from $26.00 to $25.00 and set a "neutral" rating on the stock in a research report on Monday, September 15th. Citigroup reaffirmed a "sell" rating on shares of Magnolia Oil & Gas in a research report on Thursday, July 10th. Piper Sandler raised their price target on Magnolia Oil & Gas from $24.00 to $25.00 and gave the stock a "neutral" rating in a report on Thursday, July 17th. Finally, William Blair assumed coverage on Magnolia Oil & Gas in a report on Monday, August 25th. They issued an "outperform" rating for the company. Four research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $26.09.

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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