Stephens Investment Management Group LLC Trims Stock Holdings in Magnolia Oil & Gas Corp $MGY

Stephens Investment Management Group LLC lowered its position in shares of Magnolia Oil & Gas Corp (NYSE:MGY) by 6.0% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 2,157,166 shares of the company’s stock after selling 138,581 shares during the period. Stephens Investment Management Group LLC’s holdings in Magnolia Oil & Gas were worth $51,492,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. AQR Capital Management LLC increased its stake in shares of Magnolia Oil & Gas by 77.7% in the 1st quarter. AQR Capital Management LLC now owns 56,346 shares of the company’s stock worth $1,423,000 after acquiring an additional 24,631 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Magnolia Oil & Gas by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 103,109 shares of the company’s stock worth $2,605,000 after purchasing an additional 4,512 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Magnolia Oil & Gas by 8.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 242,880 shares of the company’s stock valued at $6,135,000 after purchasing an additional 18,447 shares in the last quarter. Intech Investment Management LLC increased its stake in shares of Magnolia Oil & Gas by 11.3% during the first quarter. Intech Investment Management LLC now owns 68,814 shares of the company’s stock valued at $1,738,000 after purchasing an additional 7,008 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Magnolia Oil & Gas by 290.1% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 60,355 shares of the company’s stock valued at $1,408,000 after purchasing an additional 44,885 shares during the last quarter. Institutional investors own 94.73% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on MGY shares. Citigroup upgraded Magnolia Oil & Gas from a “neutral” rating to a “buy” rating and upped their price target for the stock from $19.00 to $25.00 in a research note on Wednesday. Bank of America raised Magnolia Oil & Gas from a “neutral” rating to a “buy” rating and increased their target price for the stock from $26.00 to $28.00 in a research note on Friday. KeyCorp set a $29.00 price target on Magnolia Oil & Gas and gave the stock an “overweight” rating in a research report on Wednesday, October 15th. Piper Sandler dropped their price target on shares of Magnolia Oil & Gas from $25.00 to $23.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 18th. Finally, BMO Capital Markets assumed coverage on shares of Magnolia Oil & Gas in a research note on Friday, January 9th. They set an “outperform” rating and a $27.00 price objective for the company. Eight equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $26.67.

Magnolia Oil & Gas Stock Up 0.5%

MGY stock opened at $22.60 on Friday. The stock has a market capitalization of $4.26 billion, a P/E ratio of 12.63, a P/E/G ratio of 3.43 and a beta of 0.92. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.47 and a quick ratio of 1.47. Magnolia Oil & Gas Corp has a 1-year low of $19.09 and a 1-year high of $26.84. The business has a fifty day moving average price of $22.47 and a 200-day moving average price of $23.20.

Magnolia Oil & Gas (NYSE:MGY) last released its quarterly earnings data on Wednesday, October 29th. The company reported $0.41 EPS for the quarter, meeting the consensus estimate of $0.41. Magnolia Oil & Gas had a return on equity of 18.10% and a net margin of 25.90%.The company had revenue of $324.94 million for the quarter, compared to analysts’ expectations of $322.52 million. During the same period last year, the firm posted $0.52 earnings per share. Magnolia Oil & Gas’s revenue was down 2.5% compared to the same quarter last year. Equities analysts forecast that Magnolia Oil & Gas Corp will post 2.1 earnings per share for the current fiscal year.

Magnolia Oil & Gas Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Monday, November 10th were given a dividend of $0.15 per share. The ex-dividend date was Monday, November 10th. This represents a $0.60 dividend on an annualized basis and a yield of 2.7%. Magnolia Oil & Gas’s dividend payout ratio is 33.52%.

About Magnolia Oil & Gas

Magnolia Oil & Gas Corp (NYSE: MGY) is an independent exploration and production company focused on the acquisition, development and optimization of onshore oil and gas assets in South Texas. Headquartered in Houston, the company concentrates its efforts on the Eagle Ford Shale, where it holds significant working interests in key producing counties.

The company’s core operations center on horizontal drilling and multi-stage completions designed to extract light crude oil, natural gas and natural gas liquids (NGLs).