Commonwealth Equity Services LLC Has $2.89 Million Stake in Magnolia Oil & Gas Co. (NYSE:MGY)

Commonwealth Equity Services LLC reduced its position in shares of Magnolia Oil & Gas Co. (NYSE:MGY) by 2.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 111,336 shares of the company’s stock after selling 2,951 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Magnolia Oil & Gas were worth $2,889,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Envestnet Asset Management Inc. boosted its position in Magnolia Oil & Gas by 59.7% during the 3rd quarter. Envestnet Asset Management Inc. now owns 325,180 shares of the company’s stock worth $7,450,000 after acquiring an additional 121,520 shares during the period. Northern Trust Corp lifted its position in Magnolia Oil & Gas by 2.7% in the 3rd quarter. Northern Trust Corp now owns 1,855,981 shares of the company’s stock worth $42,521,000 after buying an additional 48,396 shares in the last quarter. Natixis Advisors L.P. boosted its stake in shares of Magnolia Oil & Gas by 5.9% during the 3rd quarter. Natixis Advisors L.P. now owns 119,879 shares of the company’s stock valued at $2,746,000 after buying an additional 6,678 shares during the period. O Shaughnessy Asset Management LLC grew its holdings in shares of Magnolia Oil & Gas by 31.2% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 12,819 shares of the company’s stock valued at $294,000 after acquiring an additional 3,052 shares in the last quarter. Finally, Trexquant Investment LP acquired a new position in shares of Magnolia Oil & Gas in the third quarter worth $444,000. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Magnolia Oil & Gas Stock Performance

Shares of NYSE MGY traded down $0.59 during trading hours on Friday, hitting $25.40. 291,269 shares of the company’s stock were exchanged, compared to its average volume of 2,846,118. The stock has a market capitalization of $5.15 billion, a price-to-earnings ratio of 12.68, a PEG ratio of 1.45 and a beta of 2.02. The company’s 50-day moving average price is $25.20 and its 200-day moving average price is $23.64. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.71 and a quick ratio of 1.71. Magnolia Oil & Gas Co. has a 1-year low of $19.16 and a 1-year high of $27.33.

Magnolia Oil & Gas (NYSE:MGY) last announced its quarterly earnings data on Tuesday, May 7th. The company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.05. The business had revenue of $319.42 million for the quarter, compared to the consensus estimate of $308.21 million. Magnolia Oil & Gas had a net margin of 30.46% and a return on equity of 20.41%. On average, sell-side analysts expect that Magnolia Oil & Gas Co. will post 2.25 earnings per share for the current fiscal year.

Magnolia Oil & Gas Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Monday, May 13th were given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date was Friday, May 10th. Magnolia Oil & Gas’s dividend payout ratio is currently 25.87%.

Insider Activity at Magnolia Oil & Gas

In other news, Director John B. Walker sold 12,000,000 shares of Magnolia Oil & Gas stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $25.58, for a total transaction of $306,960,000.00. Following the sale, the director now owns 4,164,961 shares of the company’s stock, valued at approximately $106,539,702.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.40% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

MGY has been the topic of a number of recent research reports. Wells Fargo & Company boosted their target price on Magnolia Oil & Gas from $23.00 to $27.00 and gave the company an “equal weight” rating in a research note on Thursday, April 18th. Susquehanna raised their price objective on shares of Magnolia Oil & Gas from $28.00 to $31.00 and gave the company a “positive” rating in a research report on Monday, April 22nd. Capital One Financial started coverage on shares of Magnolia Oil & Gas in a research report on Tuesday, June 11th. They issued an “overweight” rating and a $28.00 target price for the company. Truist Financial lifted their price objective on shares of Magnolia Oil & Gas from $33.00 to $35.00 and gave the company a “buy” rating in a research note on Friday, May 31st. Finally, The Goldman Sachs Group increased their target price on shares of Magnolia Oil & Gas from $24.50 to $28.00 and gave the stock a “buy” rating in a research report on Tuesday, March 26th. One analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Magnolia Oil & Gas currently has a consensus rating of “Hold” and a consensus price target of $28.11.

Magnolia Oil & Gas Company Profile

Magnolia Oil & Gas Corporation, an independent oil and natural gas company, engages in the acquisition, development, exploration, and production of oil, natural gas, and natural gas liquids reserves in the United States. Its properties are located primarily in Karnes County and the Giddings area in South Texas principally comprising the Eagle Ford Shale and the Austin Chalk formation.