Magnolia Oil & Gas Co. (NYSE:MGY) Shares Sold by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC cut its holdings in shares of Magnolia Oil & Gas Co. (NYSE:MGY) by 2.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 111,336 shares of the company’s stock after selling 2,951 shares during the quarter. Commonwealth Equity Services LLC owned about 0.05% of Magnolia Oil & Gas worth $2,889,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Mather Group LLC. purchased a new stake in shares of Magnolia Oil & Gas in the first quarter valued at approximately $27,000. Private Wealth Management Group LLC purchased a new position in shares of Magnolia Oil & Gas during the 4th quarter worth $33,000. VisionPoint Advisory Group LLC boosted its position in shares of Magnolia Oil & Gas by 112.3% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 1,537 shares of the company’s stock valued at $35,000 after acquiring an additional 813 shares during the last quarter. Lindbrook Capital LLC grew its holdings in shares of Magnolia Oil & Gas by 61.5% in the first quarter. Lindbrook Capital LLC now owns 1,647 shares of the company’s stock valued at $43,000 after purchasing an additional 627 shares during the period. Finally, Quadrant Capital Group LLC increased its position in Magnolia Oil & Gas by 40.4% during the fourth quarter. Quadrant Capital Group LLC now owns 4,623 shares of the company’s stock worth $98,000 after purchasing an additional 1,331 shares during the last quarter. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Magnolia Oil & Gas Stock Down 2.3 %

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

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

Magnolia Oil & Gas Announces Dividend

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

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. The Goldman Sachs Group increased their price target on shares of Magnolia Oil & Gas from $24.50 to $28.00 and gave the company a “buy” rating in a research note on Tuesday, March 26th. Mizuho upped their price target on Magnolia Oil & Gas from $26.00 to $28.00 and gave the company a “neutral” rating in a research note on Monday, May 13th. Truist Financial increased their price target on Magnolia Oil & Gas from $33.00 to $35.00 and gave the stock a “buy” rating in a report on Friday, May 31st. Capital One Financial began coverage on shares of Magnolia Oil & Gas in a report on Tuesday, June 11th. They issued an “overweight” rating and a $28.00 price objective on the stock. Finally, Benchmark reiterated a “hold” rating on shares of Magnolia Oil & Gas in a research report on Tuesday, April 23rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Magnolia Oil & Gas has an average rating of “Hold” and a consensus price target of $28.11.

Insider Activity

In related news, Director John B. Walker sold 12,000,000 shares of the business’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $25.58, for a total transaction of $306,960,000.00. Following the completion of the transaction, the director now owns 4,164,961 shares in the company, valued at $106,539,702.38. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 1.40% of the company’s stock.

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.