Amalgamated Bank cut its stake in shares of Magnolia Oil & Gas Co. (NYSE:MGY – Get Rating) by 6.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 23,609 shares of the company's stock after selling 1,756 shares during the quarter. Amalgamated Bank's holdings in Magnolia Oil & Gas were worth $558,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently modified their holdings of the company. M&T Bank Corp increased its holdings in shares of Magnolia Oil & Gas by 4.1% during the first quarter. M&T Bank Corp now owns 16,665 shares of the company's stock valued at $394,000 after acquiring an additional 653 shares in the last quarter. Eaton Vance Management bought a new stake in Magnolia Oil & Gas in the 4th quarter worth about $9,435,000. Commonwealth Equity Services LLC bought a new stake in Magnolia Oil & Gas in the 1st quarter worth about $1,107,000. Segantii Capital Management Ltd bought a new stake in Magnolia Oil & Gas in the 1st quarter worth about $8,278,000. Finally, Csenge Advisory Group bought a new stake in Magnolia Oil & Gas in the 1st quarter worth about $494,000. 84.09% of the stock is currently owned by institutional investors.
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Magnolia Oil & Gas Trading Up 0.6 %
Shares of NYSE:MGY opened at $19.81 on Monday. The stock has a market capitalization of $4.31 billion, a price-to-earnings ratio of 5.34 and a beta of 2.10. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.25 and a current ratio of 2.25. The stock's 50-day simple moving average is $22.69 and its two-hundred day simple moving average is $23.63. Magnolia Oil & Gas Co. has a 52-week low of $17.23 and a 52-week high of $30.31.
Magnolia Oil & Gas (NYSE:MGY – Get Rating) last posted its quarterly earnings data on Tuesday, August 2nd. The company reported $1.10 earnings per share for the quarter, missing analysts' consensus estimates of $1.18 by ($0.08). Magnolia Oil & Gas had a net
margin of 46.42% and a return on equity of 63.23%. The company had revenue of $484.65 million for the quarter, compared to analysts' expectations of $459.13 million. Analysts expect that Magnolia Oil & Gas Co. will post 4.87 EPS for the current year.
Magnolia Oil & Gas Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 1st. Stockholders of record on Friday, August 12th were given a dividend of $0.10 per share. The ex-dividend date was Thursday, August 11th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.02%. Magnolia Oil & Gas's payout ratio is currently 5.39%.
Wall Street Analyst Weigh In
Several equities research analysts recently commented on MGY shares. KeyCorp started coverage on Magnolia Oil & Gas in a report on Monday, September 19th. They issued an "overweight" rating and a $28.00 price objective for the company. Wells Fargo & Company lifted their price objective on Magnolia Oil & Gas from $29.00 to $30.00 and gave the stock an "equal weight" rating in a report on Monday, July 11th. MKM Partners reiterated a "buy" rating and issued a $26.00 price objective on shares of Magnolia Oil & Gas in a report on Wednesday, July 20th. Finally, Truist Financial lifted their price objective on Magnolia Oil & Gas from $35.00 to $39.00 and gave the stock a "buy" rating in a report on Tuesday, July 19th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $28.56.
Magnolia Oil & Gas Company Profile
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Magnolia Oil & Gas Corporation 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 Field in South Texas principally comprising the Eagle Ford Shale and the Austin Chalk formation.
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