Epoch Investment Partners Inc. Sells 1,054,555 Shares of Magnolia Oil & Gas Corp $MGY

Epoch Investment Partners Inc. cut its stake in shares of Magnolia Oil & Gas Corp (NYSE:MGY) by 19.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,275,509 shares of the company’s stock after selling 1,054,555 shares during the quarter. Magnolia Oil & Gas accounts for about 0.8% of Epoch Investment Partners Inc.’s investment portfolio, making the stock its 29th largest holding. Epoch Investment Partners Inc. owned approximately 2.29% of Magnolia Oil & Gas worth $134,978,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. State Street Corp lifted its position in Magnolia Oil & Gas by 1.4% in the fourth quarter. State Street Corp now owns 8,800,807 shares of the company’s stock valued at $192,650,000 after purchasing an additional 125,707 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Magnolia Oil & Gas by 5.9% in the first quarter. Dimensional Fund Advisors LP now owns 7,028,781 shares of the company’s stock worth $221,910,000 after purchasing an additional 394,419 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in shares of Magnolia Oil & Gas by 790.8% in the first quarter. Arrowstreet Capital Limited Partnership now owns 6,263,808 shares of the company’s stock worth $197,748,000 after purchasing an additional 5,560,619 shares during the last quarter. TD Asset Management Inc increased its stake in shares of Magnolia Oil & Gas by 26.6% in the fourth quarter. TD Asset Management Inc now owns 5,671,819 shares of the company’s stock worth $124,156,000 after buying an additional 1,193,458 shares during the period. Finally, Wellington Management Group LLP increased its stake in shares of Magnolia Oil & Gas by 2.2% in the third quarter. Wellington Management Group LLP now owns 5,225,168 shares of the company’s stock worth $124,725,000 after buying an additional 113,458 shares during the period. 94.73% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Wells Fargo & Company dropped their price target on shares of Magnolia Oil & Gas from $32.00 to $31.00 and set an “equal weight” rating for the company in a research report on Wednesday, May 13th. Susquehanna boosted their price objective on shares of Magnolia Oil & Gas from $35.00 to $36.00 and gave the company a “positive” rating in a research report on Tuesday. Citigroup dropped their target price on shares of Magnolia Oil & Gas from $35.00 to $32.00 and set a “neutral” rating for the company in a report on Monday, April 13th. Zacks Research cut Magnolia Oil & Gas from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 19th. Finally, Mizuho reduced their price target on Magnolia Oil & Gas from $35.00 to $33.00 and set an “outperform” rating on the stock in a report on Wednesday. Eight investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Magnolia Oil & Gas has a consensus rating of “Hold” and an average target price of $31.42.

Magnolia Oil & Gas Stock Down 1.7%

Shares of NYSE:MGY opened at $25.33 on Friday. The firm has a market capitalization of $4.69 billion, a P/E ratio of 14.73 and a beta of 0.70. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.10 and a current ratio of 1.10. The stock has a 50 day moving average price of $27.03 and a 200-day moving average price of $27.42. Magnolia Oil & Gas Corp has a 52-week low of $21.07 and a 52-week high of $32.76.

Magnolia Oil & Gas (NYSE:MGY) last released 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. The company had revenue of $358.51 million for the quarter, compared to analyst estimates of $349.89 million. Magnolia Oil & Gas had a return on equity of 16.28% and a net margin of 24.40%.The firm’s revenue was up 2.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.54 earnings per share. As a group, equities research analysts anticipate that Magnolia Oil & Gas Corp will post 2.7 EPS for the current fiscal year.

Magnolia Oil & Gas Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Tuesday, May 12th were given a dividend of $0.165 per share. The ex-dividend date of this dividend was Tuesday, May 12th. This represents a $0.66 annualized dividend and a yield of 2.6%. Magnolia Oil & Gas’s dividend payout ratio (DPR) is currently 38.37%.

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).