Magnolia Oil & Gas Co. (NYSE:MGY) Shares Sold by Stock Yards Bank & Trust Co.

Stock Yards Bank & Trust Co. cut its holdings in shares of Magnolia Oil & Gas Co. (NYSE:MGY) by 37.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (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 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC lifted its position in shares of Magnolia Oil & Gas by 9.9% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 3,041,390 shares of the company’s stock valued at $64,751,000 after acquiring an additional 274,908 shares during the last quarter. Vest Financial LLC raised its holdings in Magnolia Oil & Gas by 51.4% during the 4th quarter. Vest Financial LLC now owns 606,277 shares of the company’s stock worth $12,908,000 after buying an additional 205,924 shares during the period. VisionPoint Advisory Group LLC lifted its stake in Magnolia Oil & Gas by 112.3% during the third quarter. VisionPoint Advisory Group LLC now owns 1,537 shares of the company’s stock valued at $35,000 after buying an additional 813 shares in the last quarter. Sei Investments Co. boosted its holdings in shares of Magnolia Oil & Gas by 6.2% in the third quarter. Sei Investments Co. now owns 818,397 shares of the company’s stock worth $18,750,000 after buying an additional 47,564 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Magnolia Oil & Gas by 12.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,735,955 shares of the company’s stock worth $39,771,000 after acquiring an additional 195,467 shares in the last quarter. 94.73% of the stock is currently owned by institutional investors.

Magnolia Oil & Gas Trading Up 1.0 %

Shares of NYSE:MGY opened at $25.99 on Wednesday. Magnolia Oil & Gas Co. has a 52-week low of $18.72 and a 52-week high of $27.33. The company has a market cap of $5.31 billion, a P/E ratio of 12.68, a P/E/G ratio of 1.57 and a beta of 2.05. The stock’s 50-day moving average is $24.38 and its 200-day 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.

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

Magnolia Oil & Gas Increases Dividend

The company also recently declared 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 is an increase from Magnolia Oil & Gas’s previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a yield of 2.00%. The ex-dividend date was Thursday, February 15th. Magnolia Oil & Gas’s dividend payout ratio (DPR) is currently 25.37%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on MGY. The Goldman Sachs Group upped their target price on Magnolia Oil & Gas from $24.50 to $28.00 and gave the company a “buy” rating in a report on Tuesday, March 26th. Mizuho lifted their price objective on Magnolia Oil & Gas from $24.00 to $26.00 and gave the company a “neutral” rating in a research report on Thursday, March 14th. Benchmark reaffirmed a “hold” rating on shares of Magnolia Oil & Gas in a research note on Tuesday. Piper Sandler reiterated a “neutral” rating and set a $29.00 price target on shares of Magnolia Oil & Gas in a report on Friday, April 19th. Finally, Susquehanna increased their price objective on Magnolia Oil & Gas from $28.00 to $31.00 and gave the stock a “positive” rating in a report on Monday. One investment 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’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $27.63.

About Magnolia Oil & Gas

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.