Magnolia Oil & Gas Co. (NYSE:MGY) Shares Sold by Phocas Financial Corp.

Phocas Financial Corp. lowered its holdings in Magnolia Oil & Gas Co. (NYSE:MGY) by 79.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,920 shares of the company’s stock after selling 92,881 shares during the period. Phocas Financial Corp.’s holdings in Magnolia Oil & Gas were worth $559,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Soros Fund Management LLC purchased a new position in Magnolia Oil & Gas in the 3rd quarter worth about $18,120,000. Barclays PLC grew its holdings in shares of Magnolia Oil & Gas by 62.5% during the third quarter. Barclays PLC now owns 1,653,736 shares of the company’s stock valued at $40,383,000 after buying an additional 636,049 shares in the last quarter. State Street Corp raised its position in Magnolia Oil & Gas by 4.2% during the third quarter. State Street Corp now owns 10,700,257 shares of the company’s stock valued at $261,300,000 after buying an additional 435,326 shares during the period. Centiva Capital LP lifted its stake in Magnolia Oil & Gas by 767.6% in the 3rd quarter. Centiva Capital LP now owns 487,148 shares of the company’s stock worth $11,896,000 after acquiring an additional 430,996 shares in the last quarter. Finally, Vest Financial LLC boosted its position in Magnolia Oil & Gas by 39.0% during the 4th quarter. Vest Financial LLC now owns 1,521,004 shares of the company’s stock worth $35,561,000 after acquiring an additional 426,572 shares during the period. Institutional investors and hedge funds own 94.73% of the company’s stock.

Magnolia Oil & Gas Price Performance

MGY opened at $23.31 on Wednesday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.42 and a quick ratio of 1.47. The stock has a market capitalization of $4.58 billion, a P/E ratio of 12.08, a price-to-earnings-growth ratio of 3.01 and a beta of 1.98. The company’s 50 day simple moving average is $24.19 and its 200-day simple moving average is $25.23. Magnolia Oil & Gas Co. has a one year low of $21.61 and a one year high of $29.02.

Magnolia Oil & Gas (NYSE:MGY) last released its earnings results on Tuesday, February 18th. The company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.03. Magnolia Oil & Gas had a net margin of 27.82% and a return on equity of 20.74%. The company had revenue of $326.61 million for the quarter, compared to the consensus estimate of $327.40 million. Sell-side analysts anticipate that Magnolia Oil & Gas Co. will post 2.1 earnings per share for the current fiscal year.

Magnolia Oil & Gas Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Friday, February 14th will be paid a dividend of $0.15 per share. The ex-dividend date is Friday, February 14th. This is a boost from Magnolia Oil & Gas’s previous quarterly dividend of $0.13. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.57%. Magnolia Oil & Gas’s payout ratio is 31.09%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on MGY shares. Johnson Rice downgraded Magnolia Oil & Gas from a “moderate buy” rating to a “hold” rating in a report on Tuesday, January 28th. Bank of America reiterated a “neutral” rating and issued a $28.00 price objective (down previously from $29.00) on shares of Magnolia Oil & Gas in a research note on Monday, January 13th. Mizuho increased their target price on shares of Magnolia Oil & Gas from $27.00 to $28.00 and gave the stock a “neutral” rating in a research report on Monday, December 16th. The Goldman Sachs Group downgraded shares of Magnolia Oil & Gas from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $27.00 to $26.00 in a research note on Friday, January 31st. Finally, Truist Financial boosted their target price on Magnolia Oil & Gas from $33.00 to $34.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat, Magnolia Oil & Gas presently has an average rating of “Hold” and a consensus price target of $27.58.

About Magnolia Oil & Gas

Magnolia Oil & Gas Corp. engages in the acquisition, development, exploration, and production of oil and natural gas properties. It operates assets located in the Eagle Ford Shale and Austin Chalk formations in South Texas. The company was founded on February 14, 2017 and is headquartered in Houston, TX.