Oak Family Advisors LLC Cuts Stock Holdings in Magnolia Oil & Gas Co. (NYSE:MGY)

Oak Family Advisors LLC trimmed its position in shares of Magnolia Oil & Gas Co. (NYSE:MGY) by 1.5% in the 2nd quarter, Holdings Channel.com reports. The firm owned 78,307 shares of the company’s stock after selling 1,230 shares during the period. Oak Family Advisors LLC’s holdings in Magnolia Oil & Gas were worth $1,984,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Brown Advisory Inc. purchased a new position in shares of Magnolia Oil & Gas during the 4th quarter valued at approximately $694,000. Nordea Investment Management AB increased its holdings in Magnolia Oil & Gas by 37.1% in the 1st quarter. Nordea Investment Management AB now owns 521,702 shares of the company’s stock worth $13,387,000 after acquiring an additional 141,046 shares in the last quarter. Maryland State Retirement & Pension System purchased a new stake in Magnolia Oil & Gas in the 1st quarter worth $1,721,000. Texas Permanent School Fund Corp purchased a new stake in Magnolia Oil & Gas in the 1st quarter worth $4,207,000. Finally, Vanguard Group Inc. increased its holdings in Magnolia Oil & Gas by 16.6% in the 1st quarter. Vanguard Group Inc. now owns 20,757,369 shares of the company’s stock worth $538,654,000 after acquiring an additional 2,956,314 shares in the last quarter. 94.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently commented on MGY. Capital One Financial began coverage on shares of Magnolia Oil & Gas in a report on Tuesday, June 11th. They issued an “overweight” rating and a $28.00 price target for the company. Susquehanna boosted their price target on shares of Magnolia Oil & Gas from $31.00 to $33.00 and gave the stock a “positive” rating in a report on Monday, July 22nd. Mizuho boosted their price target on shares of 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 lowered their target price on shares of Magnolia Oil & Gas from $27.00 to $26.00 and set an “equal weight” rating on the stock in a research note on Monday, August 5th. Finally, Benchmark reaffirmed a “hold” rating on shares of Magnolia Oil & Gas in a research note on Thursday, July 18th. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $28.70.

Magnolia Oil & Gas Stock Performance

Shares of MGY stock remained flat at $24.68 on Thursday. 1,689,250 shares of the stock traded hands, compared to its average volume of 2,709,368. The company’s fifty day moving average price is $25.40 and its 200-day moving average price is $24.77. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $5.00 billion, a PE ratio of 12.28, a PEG ratio of 0.90 and a beta of 2.02. Magnolia Oil & Gas Co. has a 1 year low of $19.16 and a 1 year high of $27.63.

Magnolia Oil & Gas (NYSE:MGY) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.05. The company had revenue of $336.73 million for the quarter, compared to analyst estimates of $340.72 million. Magnolia Oil & Gas had a net margin of 29.44% and a return on equity of 21.18%. On average, equities research analysts anticipate that Magnolia Oil & Gas Co. will post 2.16 EPS for the current fiscal year.

Magnolia Oil & Gas Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th will be issued a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 2.11%. The ex-dividend date is Friday, August 9th. Magnolia Oil & Gas’s payout ratio is currently 25.87%.

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.