Wedge Capital Management L L P NC Sells 993 Shares of Magnolia Oil & Gas Co. (NYSE:MGY)

Wedge Capital Management L L P NC reduced its position in Magnolia Oil & Gas Co. (NYSE:MGY) by 1.0% in the 4th quarter, Holdings Channel reports. The firm owned 102,361 shares of the company’s stock after selling 993 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Magnolia Oil & Gas were worth $2,393,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of MGY. Harbor Capital Advisors Inc. bought a new position in shares of Magnolia Oil & Gas during the 3rd quarter worth about $25,000. First Horizon Advisors Inc. raised its position in Magnolia Oil & Gas by 64.7% in the third quarter. First Horizon Advisors Inc. now owns 1,008 shares of the company’s stock worth $25,000 after purchasing an additional 396 shares in the last quarter. GAMMA Investing LLC lifted its stake in Magnolia Oil & Gas by 62.4% during the third quarter. GAMMA Investing LLC now owns 2,609 shares of the company’s stock worth $64,000 after purchasing an additional 1,002 shares during the period. Covestor Ltd boosted its holdings in Magnolia Oil & Gas by 36.8% during the third quarter. Covestor Ltd now owns 2,986 shares of the company’s stock valued at $73,000 after purchasing an additional 804 shares in the last quarter. Finally, Truvestments Capital LLC bought a new stake in shares of Magnolia Oil & Gas in the 3rd quarter valued at approximately $90,000. Institutional investors and hedge funds own 94.73% of the company’s stock.

Magnolia Oil & Gas Stock Down 0.2 %

NYSE MGY opened at $26.54 on Monday. The stock has a market capitalization of $5.22 billion, a P/E ratio of 13.14, a price-to-earnings-growth ratio of 1.25 and a beta of 2.00. Magnolia Oil & Gas Co. has a 52 week low of $19.16 and a 52 week high of $29.02. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.47 and a current ratio of 1.47. The stock has a fifty day moving average of $25.60 and a 200-day moving average of $25.52.

Magnolia Oil & Gas (NYSE:MGY) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.04. Magnolia Oil & Gas had a return on equity of 20.78% and a net margin of 28.88%. The firm had revenue of $333.14 million during the quarter, compared to analyst estimates of $331.45 million. On average, equities research analysts forecast that Magnolia Oil & Gas Co. will post 2 EPS for the current year.

Magnolia Oil & Gas Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Friday, November 8th were paid a $0.13 dividend. The ex-dividend date was Friday, November 8th. This represents a $0.52 dividend on an annualized basis and a yield of 1.96%. Magnolia Oil & Gas’s payout ratio is presently 25.74%.

Analyst Upgrades and Downgrades

Several analysts recently commented on MGY shares. Bank of America reaffirmed a “neutral” rating and issued a $28.00 price target (down previously from $29.00) on shares of Magnolia Oil & Gas in a research note on Monday, January 13th. Truist Financial boosted their target price on shares of Magnolia Oil & Gas from $33.00 to $34.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Wells Fargo & Company cut shares of Magnolia Oil & Gas from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $26.00 to $22.00 in a research report on Tuesday, October 1st. Siebert Williams Shank cut shares of Magnolia Oil & Gas from a “buy” rating to a “hold” rating and set a $30.00 price objective on the stock. in a research note on Tuesday, October 15th. Finally, Mizuho lifted their target price on shares of Magnolia Oil & Gas from $27.00 to $28.00 and gave the company a “neutral” rating in a research note on Monday, December 16th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $27.58.

Magnolia Oil & Gas Company Profile

Magnolia Oil & Gas Corp. engages in the acquisition, development, exploration, and production of oil and natural gas properties. It operates assets located in the Eagle Ford Shale and Austin Chalk formations in South Texas. The company was founded on February 14, 2017 and is headquartered in Houston, TX.