Magnolia Oil & Gas Corp $MGY Position Trimmed by Boston Trust Walden Corp

Boston Trust Walden Corp trimmed its holdings in shares of Magnolia Oil & Gas Corp (NYSE:MGY) by 22.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,227,906 shares of the company’s stock after selling 940,179 shares during the period. Magnolia Oil & Gas accounts for 0.8% of Boston Trust Walden Corp’s portfolio, making the stock its 20th biggest position. Boston Trust Walden Corp’s holdings in Magnolia Oil & Gas were worth $101,905,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Janney Montgomery Scott LLC acquired a new stake in shares of Magnolia Oil & Gas during the 1st quarter worth approximately $232,000. Pictet Asset Management Holding SA lifted its holdings in shares of Magnolia Oil & Gas by 7.7% in the 1st quarter. Pictet Asset Management Holding SA now owns 31,206 shares of the company’s stock worth $985,000 after purchasing an additional 2,225 shares during the last quarter. Louisiana State Employees Retirement System acquired a new position in Magnolia Oil & Gas during the 1st quarter valued at approximately $2,532,000. Ritholtz Wealth Management boosted its position in Magnolia Oil & Gas by 33.8% during the 1st quarter. Ritholtz Wealth Management now owns 15,994 shares of the company’s stock valued at $505,000 after purchasing an additional 4,038 shares during the period. Finally, Campbell Newman Asset Management Inc. boosted its position in Magnolia Oil & Gas by 1.8% during the 1st quarter. Campbell Newman Asset Management Inc. now owns 96,831 shares of the company’s stock valued at $3,057,000 after purchasing an additional 1,732 shares during the period. 94.73% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

MGY has been the topic of several analyst reports. Siebert Williams Shank lowered Magnolia Oil & Gas from a “buy” rating to a “hold” rating in a research report on Friday, March 6th. Truist Financial boosted their price target on shares of Magnolia Oil & Gas from $33.00 to $34.00 and gave the company a “hold” rating in a report on Monday, April 27th. Mizuho upped their price target on shares of Magnolia Oil & Gas from $33.00 to $35.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 27th. Wells Fargo & Company dropped their price objective on shares of Magnolia Oil & Gas from $32.00 to $31.00 and set an “equal weight” rating on the stock in a report on Wednesday, May 13th. Finally, Weiss Ratings downgraded shares of Magnolia Oil & Gas from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, May 21st. Eight analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, Magnolia Oil & Gas has a consensus rating of “Hold” and a consensus target price of $31.33.

Magnolia Oil & Gas Trading Up 0.6%

NYSE:MGY opened at $25.14 on Friday. The stock has a market cap of $4.65 billion, a price-to-earnings ratio of 14.62 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. Magnolia Oil & Gas Corp has a 1 year low of $21.07 and a 1 year high of $32.76. The business has a fifty day moving average of $28.05 and a 200-day moving average of $27.00.

Magnolia Oil & Gas (NYSE:MGY) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.03. The business had revenue of $358.51 million for the quarter, compared to analysts’ expectations of $349.89 million. Magnolia Oil & Gas had a net margin of 24.40% and a return on equity of 16.28%. The company’s revenue was up 2.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.54 earnings per share. Equities analysts predict that Magnolia Oil & Gas Corp will post 2.83 earnings per share for the current year.

Magnolia Oil & Gas Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 1st. Shareholders 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 annualized dividend and a yield of 2.6%. Magnolia Oil & Gas’s dividend payout ratio (DPR) is presently 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).