Stock Yards Bank & Trust Co. Sells 10,000 Shares of Magnolia Oil & Gas Co. (NYSE:MGY)

Stock Yards Bank & Trust Co. decreased its position in Magnolia Oil & Gas Co. (NYSE:MGY) by 37.5% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 16,681 shares of the company’s stock after selling 10,000 shares during the period. Stock Yards Bank & Trust Co.’s holdings in Magnolia Oil & Gas were worth $355,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. SG Americas Securities LLC raised its position in Magnolia Oil & Gas by 537.3% during the 3rd quarter. SG Americas Securities LLC now owns 41,187 shares of the company’s stock valued at $944,000 after purchasing an additional 34,724 shares during the last quarter. Commonwealth Equity Services LLC raised its stake in Magnolia Oil & Gas by 7.8% in the third quarter. Commonwealth Equity Services LLC now owns 115,205 shares of the company’s stock worth $2,639,000 after buying an additional 8,365 shares in the last quarter. Raymond James & Associates grew its holdings in shares of Magnolia Oil & Gas by 12.4% during the 3rd quarter. Raymond James & Associates now owns 371,743 shares of the company’s stock worth $8,517,000 after acquiring an additional 41,037 shares during the period. Argent Capital Management LLC boosted its position in shares of Magnolia Oil & Gas by 29.0% during the third quarter. Argent Capital Management LLC now owns 14,818 shares of the company’s stock valued at $339,000 after purchasing an additional 3,332 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in Magnolia Oil & Gas by 4.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,302,941 shares of the company’s stock valued at $29,850,000 after acquiring an additional 55,922 shares during the period. 94.73% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on MGY shares. Mizuho raised their target price on shares of Magnolia Oil & Gas from $24.00 to $26.00 and gave the company a “neutral” rating in a research note on Thursday, March 14th. Bank of America began coverage on Magnolia Oil & Gas in a research note on Tuesday, February 27th. They issued a “buy” rating and a $25.00 target price on the stock. Truist Financial lifted their price target on Magnolia Oil & Gas from $32.00 to $33.00 and gave the stock a “buy” rating in a research report on Friday, February 16th. Susquehanna raised their price objective on shares of Magnolia Oil & Gas from $28.00 to $31.00 and gave the company a “positive” rating in a research note on Monday. Finally, Wells Fargo & Company lifted their target price on shares of Magnolia Oil & Gas from $23.00 to $27.00 and gave the stock an “equal weight” rating in a report on Thursday, April 18th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $27.63.

Magnolia Oil & Gas Stock Up 1.0 %

Magnolia Oil & Gas stock opened at $25.99 on Wednesday. The business’s 50-day simple moving average is $24.38 and its two-hundred day simple moving average is $22.45. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.88 and a current ratio of 1.88. The company has a market cap of $5.31 billion, a PE ratio of 12.68, a PEG ratio of 1.57 and a beta of 2.05. Magnolia Oil & Gas Co. has a fifty-two week low of $18.72 and a fifty-two week high of $27.33.

Magnolia Oil & Gas (NYSE:MGY) last posted its earnings results on Wednesday, February 14th. The company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.04). Magnolia Oil & Gas had a net margin of 31.65% and a return on equity of 21.21%. The company had revenue of $322.63 million during the quarter, compared to analyst estimates of $324.95 million. Equities analysts anticipate that Magnolia Oil & Gas Co. will post 2.09 EPS for the current year.

Magnolia Oil & Gas Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 16th were issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 2.00%. This is a boost from Magnolia Oil & Gas’s previous quarterly dividend of $0.12. The ex-dividend date was Thursday, February 15th. Magnolia Oil & Gas’s dividend payout ratio (DPR) is 25.37%.

Magnolia Oil & Gas Company 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.