Magnolia Oil & Gas Corp $MGY Shares Sold by Pacer Advisors Inc.

Pacer Advisors Inc. reduced its holdings in shares of Magnolia Oil & Gas Corp (NYSE:MGY) by 5.9% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 589,486 shares of the company’s stock after selling 37,259 shares during the quarter. Pacer Advisors Inc.’s holdings in Magnolia Oil & Gas were worth $12,904,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. TD Asset Management Inc lifted its holdings in shares of Magnolia Oil & Gas by 55.7% during the third quarter. TD Asset Management Inc now owns 4,478,361 shares of the company’s stock worth $106,898,000 after purchasing an additional 1,601,809 shares during the period. Epoch Investment Partners Inc. boosted its position in Magnolia Oil & Gas by 58.7% in the third quarter. Epoch Investment Partners Inc. now owns 4,138,626 shares of the company’s stock valued at $98,789,000 after buying an additional 1,531,061 shares during the last quarter. HITE Hedge Asset Management LLC increased its holdings in Magnolia Oil & Gas by 661.5% in the 4th quarter. HITE Hedge Asset Management LLC now owns 1,454,388 shares of the company’s stock worth $31,837,000 after buying an additional 1,263,407 shares during the period. Arrowstreet Capital Limited Partnership increased its holdings in Magnolia Oil & Gas by 192.4% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,401,279 shares of the company’s stock worth $33,449,000 after buying an additional 921,970 shares during the period. Finally, Voloridge Investment Management LLC increased its holdings in Magnolia Oil & Gas by 116.4% in the 4th quarter. Voloridge Investment Management LLC now owns 969,487 shares of the company’s stock worth $21,222,000 after buying an additional 521,459 shares during the period. 94.73% of the stock is currently owned by hedge funds and other institutional investors.

Magnolia Oil & Gas Stock Down 0.0%

Magnolia Oil & Gas stock opened at $26.40 on Friday. The firm has a market cap of $4.88 billion, a price-to-earnings ratio of 15.35 and a beta of 0.71. Magnolia Oil & Gas Corp has a 52 week low of $21.07 and a 52 week high of $32.76. The business’s 50-day moving average price is $28.51 and its 200 day moving average price is $26.78. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.19.

Magnolia Oil & Gas (NYSE:MGY) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.03. Magnolia Oil & Gas had a return on equity of 16.28% and a net margin of 24.40%.The company had revenue of $358.51 million during the quarter, compared to analysts’ expectations of $349.89 million. During the same period last year, the business earned $0.54 earnings per share. Magnolia Oil & Gas’s quarterly revenue was up 2.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Magnolia Oil & Gas Corp will post 2.82 earnings per share for the current year.

Magnolia Oil & Gas Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Tuesday, May 12th were paid a dividend of $0.165 per share. The ex-dividend date of this dividend was Tuesday, May 12th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 2.5%. Magnolia Oil & Gas’s dividend payout ratio (DPR) is presently 38.37%.

Analyst Ratings Changes

Several analysts have commented on the stock. Citigroup decreased their price objective on shares of Magnolia Oil & Gas from $35.00 to $32.00 and set a “neutral” rating for the company in a research note on Monday, April 13th. Truist Financial increased their price objective on shares of Magnolia Oil & Gas from $33.00 to $34.00 and gave the stock a “hold” rating in a research note on Monday, April 27th. Weiss Ratings cut shares of Magnolia Oil & Gas from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, May 21st. Piper Sandler boosted their target price on shares of Magnolia Oil & Gas from $28.00 to $31.00 and gave the company a “neutral” rating in a research report on Thursday, March 12th. Finally, Zacks Research downgraded shares of Magnolia Oil & Gas from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 19th. Seven research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $31.42.

Magnolia Oil & Gas Profile

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).