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Magnolia Oil & Gas Corp (NYSE:MGY) Shares Sold by Victory Capital Management Inc.

Magnolia Oil & Gas logo with Energy background

Victory Capital Management Inc. lowered its stake in Magnolia Oil & Gas Corp (NYSE:MGY - Free Report) by 6.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,382,053 shares of the company's stock after selling 290,547 shares during the period. Victory Capital Management Inc. owned approximately 2.26% of Magnolia Oil & Gas worth $110,691,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. OneDigital Investment Advisors LLC boosted its position in shares of Magnolia Oil & Gas by 3.0% during the fourth quarter. OneDigital Investment Advisors LLC now owns 15,768 shares of the company's stock valued at $369,000 after buying an additional 464 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of Magnolia Oil & Gas by 1.4% during the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 40,783 shares of the company's stock valued at $954,000 after buying an additional 564 shares during the period. Summit Investment Advisors Inc. boosted its position in shares of Magnolia Oil & Gas by 3.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 18,119 shares of the company's stock valued at $424,000 after buying an additional 574 shares during the period. Farther Finance Advisors LLC boosted its position in shares of 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 buying an additional 629 shares during the period. Finally, BOKF NA boosted its position in shares of Magnolia Oil & Gas by 3.9% during the fourth quarter. BOKF NA now owns 19,014 shares of the company's stock valued at $473,000 after buying an additional 713 shares during the period. Hedge funds and other institutional investors own 94.73% of the company's stock.

Magnolia Oil & Gas Stock Up 0.1%

Shares of MGY traded up $0.02 during midday trading on Friday, hitting $23.12. 2,599,778 shares of the company's stock traded hands, compared to its average volume of 2,384,698. Magnolia Oil & Gas Corp has a 1 year low of $19.09 and a 1 year high of $29.02. The firm's fifty day moving average is $22.93 and its 200-day moving average is $23.17. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $4.45 billion, a price-to-earnings ratio of 11.50, a price-to-earnings-growth ratio of 3.05 and a beta of 1.28.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.55 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 firm had revenue of $350.30 million during the quarter, compared to analyst estimates of $337.83 million. During the same quarter in the prior year, the business posted $0.46 EPS. The business's revenue for the quarter was up 9.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Magnolia Oil & Gas Corp will post 2.1 earnings per share for the current year.

Magnolia Oil & Gas Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 12th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Monday, May 12th. This represents a $0.60 annualized dividend and a dividend yield of 2.60%. Magnolia Oil & Gas's dividend payout ratio is presently 29.85%.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. UBS Group restated a "buy" rating and set a $29.00 target price (up previously from $26.00) on shares of Magnolia Oil & Gas in a research report on Friday, June 13th. Piper Sandler lifted their price target on shares of Magnolia Oil & Gas from $24.00 to $25.00 and gave the company a "neutral" rating in a research note on Thursday. Citigroup reaffirmed a "sell" rating on shares of Magnolia Oil & Gas in a research note on Thursday, July 10th. Bank of America lifted their price target on shares of Magnolia Oil & Gas from $23.00 to $25.00 and gave the company a "neutral" rating in a research note on Friday, May 23rd. Finally, Wells Fargo & Company decreased their price target on shares of Magnolia Oil & Gas from $22.00 to $21.00 and set an "underweight" rating for the company in a research note on Monday, June 16th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $27.08.

Read Our Latest Research Report on MGY

Magnolia Oil & Gas Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Magnolia Oil & Gas (NYSE:MGY)

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