Victory Capital Management Inc. Has $94.49 Million Stock Holdings in Magnolia Oil & Gas Corp $MGY

Victory Capital Management Inc. decreased its holdings in shares of Magnolia Oil & Gas Corp (NYSE:MGY) by 8.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,958,502 shares of the company’s stock after selling 381,122 shares during the quarter. Victory Capital Management Inc. owned about 2.10% of Magnolia Oil & Gas worth $94,489,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Magnolia Oil & Gas by 236.2% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,190 shares of the company’s stock worth $27,000 after purchasing an additional 836 shares during the last quarter. Mather Group LLC. bought a new stake in Magnolia Oil & Gas during the 3rd quarter worth about $31,000. EverSource Wealth Advisors LLC lifted its position in Magnolia Oil & Gas by 165.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,386 shares of the company’s stock worth $31,000 after buying an additional 864 shares in the last quarter. Geneos Wealth Management Inc. boosted its stake in shares of Magnolia Oil & Gas by 90.5% during the 2nd quarter. Geneos Wealth Management Inc. now owns 2,212 shares of the company’s stock worth $50,000 after buying an additional 1,051 shares during the last quarter. Finally, Nisa Investment Advisors LLC grew its holdings in shares of Magnolia Oil & Gas by 31.5% in the 3rd quarter. Nisa Investment Advisors LLC now owns 3,003 shares of the company’s stock valued at $72,000 after acquiring an additional 720 shares in the last quarter. 94.73% of the stock is owned by institutional investors and hedge funds.

Magnolia Oil & Gas Stock Performance

Shares of MGY opened at $28.65 on Thursday. Magnolia Oil & Gas Corp has a 1 year low of $19.09 and a 1 year high of $29.10. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.54 and a quick ratio of 1.54. The stock’s fifty day moving average price is $24.74 and its two-hundred day moving average price is $23.79. The firm has a market cap of $5.34 billion, a PE ratio of 16.66 and a beta of 0.89.

Magnolia Oil & Gas (NYSE:MGY) last announced its quarterly earnings data on Thursday, February 5th. The company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.01. The company had revenue of $317.63 million during the quarter, compared to analyst estimates of $322.18 million. Magnolia Oil & Gas had a return on equity of 16.67% and a net margin of 24.79%.The firm’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.44 EPS. On average, equities research analysts forecast that Magnolia Oil & Gas Corp will post 2.1 EPS for the current year.

Magnolia Oil & Gas Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 2nd. Investors of record on Tuesday, February 10th were paid a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date was Tuesday, February 10th. This is an increase from Magnolia Oil & Gas’s previous quarterly dividend of $0.15. Magnolia Oil & Gas’s dividend payout ratio is currently 38.37%.

Analyst Ratings Changes

MGY has been the topic of several analyst reports. Benchmark reiterated a “hold” rating on shares of Magnolia Oil & Gas in a report on Wednesday, January 21st. Wells Fargo & Company set a $25.00 price objective on Magnolia Oil & Gas in a research note on Monday, February 16th. Citigroup increased their price objective on Magnolia Oil & Gas from $25.00 to $29.00 and gave the company a “neutral” rating in a report on Wednesday, February 18th. BMO Capital Markets began coverage on shares of Magnolia Oil & Gas in a report on Friday, January 9th. They set an “outperform” rating and a $27.00 target price on the stock. Finally, UBS Group reaffirmed a “buy” rating and set a $29.00 price target on shares of Magnolia Oil & Gas in a research report on Friday, January 9th. Eight analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $27.45.

About Magnolia Oil & Gas

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).