Zurcher Kantonalbank Zurich Cantonalbank Sells 2,795 Shares of Magnolia Oil & Gas Co. (NYSE:MGY)

Zurcher Kantonalbank Zurich Cantonalbank cut its stake in shares of Magnolia Oil & Gas Co. (NYSE:MGY) by 7.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,825 shares of the company’s stock after selling 2,795 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Magnolia Oil & Gas were worth $720,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of MGY. Oak Family Advisors LLC raised its holdings in Magnolia Oil & Gas by 1.6% during the 4th quarter. Oak Family Advisors LLC now owns 80,587 shares of the company’s stock valued at $1,716,000 after buying an additional 1,275 shares during the period. Phocas Financial Corp. increased its position in Magnolia Oil & Gas by 2.0% during the fourth quarter. Phocas Financial Corp. now owns 131,894 shares of the company’s stock valued at $2,808,000 after acquiring an additional 2,592 shares during the last quarter. Cerity Partners LLC bought a new position in Magnolia Oil & Gas during the fourth quarter valued at $267,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of Magnolia Oil & Gas by 9.9% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 3,041,390 shares of the company’s stock worth $64,751,000 after acquiring an additional 274,908 shares during the last quarter. Finally, Arlington Trust Co LLC purchased a new position in shares of Magnolia Oil & Gas during the 4th quarter worth about $113,000. 94.73% of the stock is owned by institutional investors.

Magnolia Oil & Gas Stock Up 0.4 %

Shares of Magnolia Oil & Gas stock opened at $26.44 on Tuesday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.88 and a quick ratio of 1.88. The stock has a market cap of $5.40 billion, a price-to-earnings ratio of 12.90, a PEG ratio of 1.61 and a beta of 2.05. The firm’s 50-day moving average is $24.80 and its two-hundred day moving average is $22.55. Magnolia Oil & Gas Co. has a 1 year low of $18.72 and a 1 year high of $27.33.

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 the consensus estimate of $0.54 by ($0.04). The business had revenue of $322.63 million during the quarter, compared to analysts’ expectations of $324.95 million. Magnolia Oil & Gas had a return on equity of 21.21% and a net margin of 31.65%. As a group, research analysts expect that Magnolia Oil & Gas Co. will post 2.09 earnings per share for the current fiscal year.

Magnolia Oil & Gas Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 16th were issued a $0.13 dividend. The ex-dividend date was Thursday, February 15th. This is an increase from Magnolia Oil & Gas’s previous quarterly dividend of $0.12. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.97%. Magnolia Oil & Gas’s dividend payout ratio (DPR) is currently 25.37%.

Analyst Ratings Changes

MGY has been the topic of several recent analyst reports. The Goldman Sachs Group increased their price target on Magnolia Oil & Gas from $24.50 to $28.00 and gave the stock a “buy” rating in a report on Tuesday, March 26th. Wells Fargo & Company increased their target price on Magnolia Oil & Gas from $23.00 to $27.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 18th. Citigroup boosted their target price on shares of Magnolia Oil & Gas from $18.00 to $22.00 and gave the company a “sell” rating in a research note on Monday, April 15th. Susquehanna raised their price target on shares of Magnolia Oil & Gas from $28.00 to $31.00 and gave the stock a “positive” rating in a research note on Monday, April 22nd. Finally, Benchmark reiterated a “hold” rating on shares of Magnolia Oil & Gas in a report on Tuesday, April 23rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Magnolia Oil & Gas currently has an average rating of “Hold” and a consensus target price of $27.63.

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.