Magnolia Oil & Gas Corp $MGY Shares Sold by Rafferty Asset Management LLC

Rafferty Asset Management LLC cut its holdings in Magnolia Oil & Gas Corp (NYSE:MGY) by 20.0% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 179,677 shares of the company’s stock after selling 44,852 shares during the period. Rafferty Asset Management LLC’s holdings in Magnolia Oil & Gas were worth $4,289,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Fox Run Management L.L.C. acquired a new stake in Magnolia Oil & Gas during the third quarter worth about $206,000. TD Asset Management Inc boosted its stake in Magnolia Oil & Gas by 55.7% in the third quarter. TD Asset Management Inc now owns 4,478,361 shares of the company’s stock valued at $106,898,000 after acquiring an additional 1,601,809 shares during the period. AXQ Capital LP bought a new position in shares of Magnolia Oil & Gas during the third quarter valued at approximately $205,000. Semanteon Capital Management LP acquired a new stake in shares of Magnolia Oil & Gas during the 3rd quarter worth approximately $567,000. Finally, Heartland Advisors Inc. raised its position in shares of Magnolia Oil & Gas by 92.1% during the 3rd quarter. Heartland Advisors Inc. now owns 576,290 shares of the company’s stock worth $13,756,000 after purchasing an additional 276,290 shares during the period. Institutional investors own 94.73% of the company’s stock.

Magnolia Oil & Gas Price Performance

Shares of MGY opened at $28.43 on Wednesday. Magnolia Oil & Gas Corp has a one year low of $19.09 and a one year high of $29.10. The stock’s fifty day moving average is $24.60 and its 200-day moving average is $23.76. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.54 and a current ratio of 1.54. The firm has a market capitalization of $5.30 billion, a price-to-earnings ratio of 16.53 and a beta of 0.89.

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

Magnolia Oil & Gas Increases Dividend

The business also recently disclosed 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 is a boost from Magnolia Oil & Gas’s previous quarterly dividend of $0.15. 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. Magnolia Oil & Gas’s dividend payout ratio (DPR) is 38.37%.

Wall Street Analysts Forecast Growth

MGY has been the subject of a number of analyst reports. Piper Sandler boosted their price objective on Magnolia Oil & Gas from $23.00 to $26.00 and gave the company a “neutral” rating in a research report on Tuesday, February 10th. Roth Mkm reissued a “buy” rating on shares of Magnolia Oil & Gas in a report on Tuesday, February 10th. Zacks Research raised shares of Magnolia Oil & Gas from a “strong sell” rating to a “hold” rating in a report on Wednesday, February 11th. Weiss Ratings reiterated a “hold (c)” rating on shares of Magnolia Oil & Gas in a research report on Thursday, January 22nd. Finally, Mizuho set a $30.00 target price on shares of Magnolia Oil & Gas in a research report on Friday, February 6th. Eight research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $27.58.

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).