Thompson Siegel & Walmsley LLC Sells 152,976 Shares of Magnolia Oil & Gas Co. (NYSE:MGY)

Thompson Siegel & Walmsley LLC lowered its position in shares of Magnolia Oil & Gas Co. (NYSE:MGY) by 93.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,420 shares of the company’s stock after selling 152,976 shares during the period. Thompson Siegel & Walmsley LLC’s holdings in Magnolia Oil & Gas were worth $264,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Diamond Hill Capital Management Inc. bought a new stake in Magnolia Oil & Gas in the 2nd quarter worth approximately $14,201,000. Envestnet Asset Management Inc. boosted its stake in shares of Magnolia Oil & Gas by 9.4% in the 2nd quarter. Envestnet Asset Management Inc. now owns 388,289 shares of the company’s stock valued at $9,839,000 after purchasing an additional 33,411 shares in the last quarter. Oppenheimer Asset Management Inc. grew its holdings in shares of Magnolia Oil & Gas by 15.5% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 37,927 shares of the company’s stock valued at $961,000 after purchasing an additional 5,100 shares during the last quarter. Federated Hermes Inc. purchased a new position in shares of Magnolia Oil & Gas in the second quarter worth about $6,686,000. Finally, Nicholas Investment Partners LP increased its stake in Magnolia Oil & Gas by 89.7% in the 2nd quarter. Nicholas Investment Partners LP now owns 138,614 shares of the company’s stock worth $3,512,000 after purchasing an additional 65,532 shares during the period. 94.73% of the stock is currently owned by hedge funds and other institutional investors.

Magnolia Oil & Gas Price Performance

Shares of NYSE MGY opened at $24.21 on Tuesday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.28 and a current ratio of 1.28. The company has a 50 day simple moving average of $25.19 and a two-hundred day simple moving average of $25.22. Magnolia Oil & Gas Co. has a fifty-two week low of $19.16 and a fifty-two week high of $27.63. The company has a market capitalization of $4.82 billion, a price-to-earnings ratio of 12.04, a P/E/G ratio of 1.12 and a beta of 2.00.

Magnolia Oil & Gas (NYSE:MGY) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.05. Magnolia Oil & Gas had a return on equity of 21.18% and a net margin of 29.44%. The business had revenue of $336.73 million during the quarter, compared to analysts’ expectations of $340.72 million. Analysts expect that Magnolia Oil & Gas Co. will post 2.13 EPS for the current fiscal year.

Magnolia Oil & Gas Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were issued a $0.13 dividend. The ex-dividend date was Friday, August 9th. This represents a $0.52 annualized dividend and a yield of 2.15%. Magnolia Oil & Gas’s dividend payout ratio (DPR) is presently 25.87%.

Analysts Set New Price Targets

A number of research firms have issued reports on MGY. Bank of America boosted their price objective on shares of Magnolia Oil & Gas from $28.00 to $29.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Benchmark reaffirmed a “hold” rating on shares of Magnolia Oil & Gas in a research report on Thursday, July 18th. Wolfe Research assumed coverage on Magnolia Oil & Gas in a research report on Thursday, July 18th. They issued an “outperform” rating and a $32.00 price objective on the stock. Susquehanna decreased their target price on Magnolia Oil & Gas from $33.00 to $32.00 and set a “positive” rating for the company in a report on Wednesday, September 4th. Finally, Mizuho cut their price target on shares of Magnolia Oil & Gas from $28.00 to $27.00 and set a “neutral” rating on the stock in a report on Monday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $28.00.

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.