Brandywine Global Investment Management LLC Trims Stock Holdings in Magnolia Oil & Gas Corp $MGY

Brandywine Global Investment Management LLC reduced its stake in Magnolia Oil & Gas Corp (NYSE:MGY) by 3.5% during the 4th quarter, Holdings Channel reports. The fund owned 731,423 shares of the company’s stock after selling 26,790 shares during the period. Brandywine Global Investment Management LLC’s holdings in Magnolia Oil & Gas were worth $16,011,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Salomon & Ludwin LLC lifted its position in shares of Magnolia Oil & Gas by 130.1% in the fourth quarter. Salomon & Ludwin LLC now owns 1,344 shares of the company’s stock valued at $29,000 after acquiring an additional 760 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in Magnolia Oil & Gas by 165.5% during the second quarter. EverSource Wealth Advisors LLC now owns 1,386 shares of the company’s stock worth $31,000 after buying an additional 864 shares during the period. Torren Management LLC purchased a new position in Magnolia Oil & Gas during the fourth quarter worth about $38,000. Parallel Advisors LLC lifted its position in Magnolia Oil & Gas by 79.8% during the fourth quarter. Parallel Advisors LLC now owns 1,769 shares of the company’s stock worth $39,000 after buying an additional 785 shares during the period. Finally, First Horizon Corp raised its holdings in shares of Magnolia Oil & Gas by 159.8% in the 4th quarter. First Horizon Corp now owns 1,889 shares of the company’s stock worth $41,000 after purchasing an additional 1,162 shares during the period. 94.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on MGY. KeyCorp raised their price objective on Magnolia Oil & Gas from $30.00 to $38.00 and gave the stock an “overweight” rating in a report on Thursday, April 2nd. Wells Fargo & Company lowered their target price on Magnolia Oil & Gas from $32.00 to $31.00 and set an “equal weight” rating for the company in a research note on Wednesday, May 13th. Truist Financial increased their target price on Magnolia Oil & Gas from $33.00 to $34.00 and gave the company a “hold” rating in a research note on Monday, April 27th. UBS Group increased their target price on Magnolia Oil & Gas from $29.00 to $35.00 and gave the company a “buy” rating in a research note on Thursday, March 5th. Finally, Weiss Ratings lowered Magnolia Oil & Gas from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, May 21st. Seven investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $31.42.

Magnolia Oil & Gas Price Performance

Shares of NYSE MGY opened at $28.07 on Tuesday. Magnolia Oil & Gas Corp has a fifty-two week low of $21.07 and a fifty-two week high of $32.76. The business has a 50 day moving average price of $29.25 and a two-hundred day moving average price of $26.54. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.19. The firm has a market cap of $5.19 billion, a PE ratio of 16.32 and a beta of 0.71.

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. Magnolia Oil & Gas had a return on equity of 16.28% and a net margin of 24.40%.The firm had revenue of $358.51 million during the quarter, compared to analyst estimates of $349.89 million. During the same quarter last year, the firm earned $0.54 EPS. Magnolia Oil & Gas’s quarterly revenue was up 2.3% on a year-over-year basis. Sell-side analysts expect that Magnolia Oil & Gas Corp will post 2.82 earnings per share for the current fiscal year.

Magnolia Oil & Gas Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Tuesday, May 12th were given a $0.165 dividend. The ex-dividend date was Tuesday, May 12th. This represents a $0.66 annualized dividend and a dividend yield of 2.4%. Magnolia Oil & Gas’s dividend payout ratio (DPR) is presently 38.37%.

Magnolia Oil & Gas Company Profile

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).