Kennedy Capital Management LLC Trims Stake in Magnolia Oil & Gas Co. (NYSE:MGY)

Kennedy Capital Management LLC reduced its stake in shares of Magnolia Oil & Gas Co. (NYSE:MGY) by 6.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 172,342 shares of the company’s stock after selling 12,797 shares during the quarter. Kennedy Capital Management LLC owned 0.08% of Magnolia Oil & Gas worth $4,472,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of MGY. Mather Group LLC. purchased a new stake in shares of Magnolia Oil & Gas during the first quarter worth approximately $27,000. Private Wealth Management Group LLC purchased a new stake in Magnolia Oil & Gas in the 4th quarter valued at $33,000. Lindbrook Capital LLC grew its holdings in shares of Magnolia Oil & Gas by 61.5% during the 1st quarter. Lindbrook Capital LLC now owns 1,647 shares of the company’s stock worth $43,000 after purchasing an additional 627 shares during the period. Fidelis Capital Partners LLC purchased a new position in shares of Magnolia Oil & Gas during the 1st quarter worth $50,000. Finally, Quadrant Capital Group LLC grew its holdings in shares of Magnolia Oil & Gas by 40.4% during the 4th quarter. Quadrant Capital Group LLC now owns 4,623 shares of the company’s stock worth $98,000 after purchasing an additional 1,331 shares during the period. 94.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Magnolia Oil & Gas

In other Magnolia Oil & Gas news, Director John B. Walker sold 12,000,000 shares of Magnolia Oil & Gas stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $25.58, for a total value of $306,960,000.00. Following the completion of the transaction, the director now owns 4,164,961 shares in the company, valued at approximately $106,539,702.38. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.20% of the stock is owned by insiders.

Magnolia Oil & Gas Stock Up 0.9 %

Shares of MGY traded up $0.24 during midday trading on Tuesday, reaching $26.60. 1,784,291 shares of the stock were exchanged, compared to its average volume of 2,759,992. Magnolia Oil & Gas Co. has a 12-month low of $19.16 and a 12-month high of $27.62. The firm has a 50 day simple moving average of $25.41 and a 200-day simple moving average of $24.26. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 0.21. The company has a market cap of $5.39 billion, a price-to-earnings ratio of 13.11, a P/E/G ratio of 0.99 and a beta of 2.02.

Magnolia Oil & Gas (NYSE:MGY) last issued its quarterly earnings data on Tuesday, May 7th. The company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.05. The business had revenue of $319.42 million for the quarter, compared to the consensus estimate of $308.21 million. Magnolia Oil & Gas had a return on equity of 20.41% and a net margin of 30.46%. Research analysts forecast that Magnolia Oil & Gas Co. will post 2.2 EPS for the current year.

Magnolia Oil & Gas Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Friday, August 9th will be paid a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 1.95%. The ex-dividend date of this dividend is Friday, August 9th. Magnolia Oil & Gas’s dividend payout ratio is 25.87%.

Analysts Set New Price Targets

A number of research firms have issued reports on MGY. Citigroup increased their price target on Magnolia Oil & Gas from $18.00 to $22.00 and gave the company a “sell” rating in a research report on Monday, April 15th. Benchmark reaffirmed a “hold” rating on shares of Magnolia Oil & Gas in a report on Thursday, July 18th. Mizuho boosted their price target on Magnolia Oil & Gas from $26.00 to $28.00 and gave the stock a “neutral” rating in a report on Monday, May 13th. Wells Fargo & Company boosted their price target on Magnolia Oil & Gas from $23.00 to $27.00 and gave the stock an “equal weight” rating in a report on Thursday, April 18th. Finally, Susquehanna lifted their price objective on Magnolia Oil & Gas from $31.00 to $33.00 and gave the company a “positive” rating in a research report on Monday, July 22nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Magnolia Oil & Gas has an average rating of “Hold” and a consensus target price of $29.00.

Magnolia Oil & Gas Profile

Magnolia Oil & Gas Corporation, an independent oil and natural gas company, engages in the acquisition, development, exploration, and production of oil, natural gas, and natural gas liquids reserves in the United States. Its properties are located primarily in Karnes County and the Giddings area in South Texas principally comprising the Eagle Ford Shale and the Austin Chalk formation.