Stifel Financial Corp Reduces Holdings in Magnolia Oil & Gas Co. (NYSE:MGY)

Stifel Financial Corp reduced its position in Magnolia Oil & Gas Co. (NYSE:MGY) by 13.8% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 29,869 shares of the company’s stock after selling 4,774 shares during the period. Stifel Financial Corp’s holdings in Magnolia Oil & Gas were worth $729,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in MGY. American Century Companies Inc. boosted its stake in shares of Magnolia Oil & Gas by 9.9% during the second quarter. American Century Companies Inc. now owns 9,389,368 shares of the company’s stock worth $237,927,000 after buying an additional 847,542 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Magnolia Oil & Gas by 16.1% during the second quarter. Dimensional Fund Advisors LP now owns 4,520,725 shares of the company’s stock worth $114,554,000 after purchasing an additional 627,933 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in shares of Magnolia Oil & Gas by 1.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 3,061,846 shares of the company’s stock worth $74,770,000 after purchasing an additional 50,351 shares during the period. Systematic Financial Management LP boosted its holdings in Magnolia Oil & Gas by 7.5% in the 3rd quarter. Systematic Financial Management LP now owns 2,920,018 shares of the company’s stock valued at $71,307,000 after purchasing an additional 203,514 shares in the last quarter. Finally, Boston Trust Walden Corp boosted its holdings in Magnolia Oil & Gas by 4.4% in the 3rd quarter. Boston Trust Walden Corp now owns 2,823,126 shares of the company’s stock valued at $68,941,000 after purchasing an additional 119,582 shares in the last quarter. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Magnolia Oil & Gas Trading Up 1.1 %

NYSE MGY opened at $23.24 on Thursday. The company has a 50-day moving average of $26.18 and a 200-day moving average of $25.59. 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 Co. has a 12 month low of $19.16 and a 12 month high of $29.02. The company has a market cap of $4.57 billion, a P/E ratio of 11.51, a P/E/G ratio of 1.29 and a beta of 1.99.

Magnolia Oil & Gas (NYSE:MGY) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.04. The company had revenue of $333.14 million during the quarter, compared to analysts’ expectations of $331.45 million. Magnolia Oil & Gas had a net margin of 28.88% and a return on equity of 20.78%. As a group, equities analysts predict that Magnolia Oil & Gas Co. will post 2 earnings per share for the current year.

Magnolia Oil & Gas Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Friday, November 8th were issued a $0.13 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $0.52 annualized dividend and a yield of 2.24%. Magnolia Oil & Gas’s payout ratio is 25.74%.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Truist Financial raised their target price on Magnolia Oil & Gas from $31.00 to $33.00 and gave the company a “buy” rating in a report on Friday, November 1st. Benchmark reaffirmed a “hold” rating on shares of Magnolia Oil & Gas in a report on Tuesday, October 15th. Mizuho upped their price target on shares of Magnolia Oil & Gas from $27.00 to $28.00 and gave the company a “neutral” rating in a report on Monday, December 16th. Siebert Williams Shank lowered Magnolia Oil & Gas from a “buy” rating to a “hold” rating and set a $30.00 target price on the stock. in a research note on Tuesday, October 15th. Finally, Wells Fargo & Company downgraded Magnolia Oil & Gas from an “equal weight” rating to an “underweight” rating and reduced their price objective for the company from $26.00 to $22.00 in a research report on Tuesday, October 1st. Two research analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Magnolia Oil & Gas has a consensus rating of “Hold” and a consensus price target of $27.58.

About Magnolia Oil & Gas

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.