Wasatch Advisors LP Has $90.57 Million Stock Holdings in Magnolia Oil & Gas Co. (NYSE:MGY)

Wasatch Advisors LP decreased its holdings in shares of Magnolia Oil & Gas Co. (NYSE:MGY) by 5.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,490,214 shares of the company’s stock after selling 189,048 shares during the period. Wasatch Advisors LP owned approximately 1.71% of Magnolia Oil & Gas worth $90,571,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Envestnet Portfolio Solutions Inc. purchased a new stake in shares of Magnolia Oil & Gas in the third quarter valued at about $285,000. Envestnet Asset Management Inc. raised its holdings in shares of Magnolia Oil & Gas by 59.7% in the third quarter. Envestnet Asset Management Inc. now owns 325,180 shares of the company’s stock valued at $7,450,000 after purchasing an additional 121,520 shares during the last quarter. Northern Trust Corp raised its holdings in shares of Magnolia Oil & Gas by 2.7% in the third quarter. Northern Trust Corp now owns 1,855,981 shares of the company’s stock valued at $42,521,000 after purchasing an additional 48,396 shares during the last quarter. Natixis Advisors L.P. raised its holdings in shares of Magnolia Oil & Gas by 5.9% in the third quarter. Natixis Advisors L.P. now owns 119,879 shares of the company’s stock valued at $2,746,000 after purchasing an additional 6,678 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC raised its holdings in shares of Magnolia Oil & Gas by 31.2% in the third quarter. O Shaughnessy Asset Management LLC now owns 12,819 shares of the company’s stock valued at $294,000 after purchasing an additional 3,052 shares during the last quarter. Institutional investors and hedge funds own 94.73% of the company’s stock.

Insider Activity at Magnolia Oil & Gas

In related news, Director John B. Walker sold 12,000,000 shares of Magnolia Oil & Gas stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $25.58, for a total value of $306,960,000.00. Following the sale, the director now owns 4,164,961 shares in the company, valued at $106,539,702.38. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.40% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on MGY shares. Wells Fargo & Company increased their price target on shares of Magnolia Oil & Gas from $23.00 to $27.00 and gave the company an “equal weight” rating in a research report on Thursday, April 18th. Citigroup increased their price target on shares of Magnolia Oil & Gas from $18.00 to $22.00 and gave the company a “sell” rating in a research report on Monday, April 15th. Piper Sandler restated a “neutral” rating and set a $29.00 price target on shares of Magnolia Oil & Gas in a research report on Friday, April 19th. Benchmark restated a “hold” rating on shares of Magnolia Oil & Gas in a research report on Tuesday, April 23rd. Finally, Mizuho increased their price target on shares of Magnolia Oil & Gas from $26.00 to $28.00 and gave the company a “neutral” rating in a research report on Monday, May 13th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Magnolia Oil & Gas currently has an average rating of “Hold” and a consensus price target of $28.11.

Magnolia Oil & Gas Price Performance

Shares of MGY stock traded down $0.01 during trading hours on Tuesday, hitting $25.45. 1,916,224 shares of the company’s stock were exchanged, compared to its average volume of 2,881,448. The company has a market capitalization of $5.16 billion, a PE ratio of 12.66, a PEG ratio of 1.42 and a beta of 2.02. Magnolia Oil & Gas Co. has a 12-month low of $19.16 and a 12-month high of $27.33. The business’s 50 day simple moving average is $25.21 and its 200-day simple moving average is $23.61. The company has a current ratio of 1.71, a quick ratio of 1.71 and a debt-to-equity ratio of 0.21.

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

Magnolia Oil & Gas Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Monday, May 13th were issued a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 2.04%. The ex-dividend date of this dividend was Friday, May 10th. Magnolia Oil & Gas’s dividend payout ratio (DPR) is currently 25.87%.

Magnolia Oil & Gas 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.