KBC Group NV Sells 2,652 Shares of Magnolia Oil & Gas Corp $MGY

KBC Group NV decreased its position in Magnolia Oil & Gas Corp (NYSE:MGY) by 34.2% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,105 shares of the company’s stock after selling 2,652 shares during the period. KBC Group NV’s holdings in Magnolia Oil & Gas were worth $115,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. Encompass Capital Advisors LLC purchased a new position in shares of Magnolia Oil & Gas in the 1st quarter worth approximately $53,819,000. Jane Street Group LLC lifted its holdings in Magnolia Oil & Gas by 1,382.9% during the first quarter. Jane Street Group LLC now owns 1,059,335 shares of the company’s stock worth $26,759,000 after acquiring an additional 987,896 shares during the period. Millennium Management LLC lifted its holdings in Magnolia Oil & Gas by 506.2% during the first quarter. Millennium Management LLC now owns 1,022,836 shares of the company’s stock worth $25,837,000 after acquiring an additional 854,113 shares during the period. Nuveen LLC purchased a new position in Magnolia Oil & Gas in the first quarter worth $21,066,000. Finally, Boston Trust Walden Corp grew its stake in Magnolia Oil & Gas by 26.0% in the 2nd quarter. Boston Trust Walden Corp now owns 4,003,770 shares of the company’s stock valued at $90,005,000 after purchasing an additional 825,162 shares during the period. Institutional investors own 94.73% of the company’s stock.

Magnolia Oil & Gas Price Performance

MGY opened at $22.83 on Friday. The firm has a 50-day moving average price of $23.25 and a 200-day moving average price of $23.28. Magnolia Oil & Gas Corp has a twelve month low of $19.09 and a twelve month high of $29.02. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $4.31 billion, a price-to-earnings ratio of 12.75, a PEG ratio of 3.03 and a beta of 1.18.

Magnolia Oil & Gas (NYSE:MGY) last announced its quarterly earnings results on Wednesday, October 29th. The company reported $0.41 EPS for the quarter, meeting analysts’ consensus estimates of $0.41. Magnolia Oil & Gas had a net margin of 25.90% and a return on equity of 18.10%. The company had revenue of $324.94 million for the quarter, compared to analysts’ expectations of $322.52 million. During the same period in the prior year, the company posted $0.52 EPS. Magnolia Oil & Gas’s revenue was down 2.5% compared to the same quarter last year. Equities analysts expect that Magnolia Oil & Gas Corp will post 2.1 EPS for the current year.

Magnolia Oil & Gas Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Monday, November 10th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend is Monday, November 10th. Magnolia Oil & Gas’s dividend payout ratio (DPR) is presently 33.52%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on MGY shares. Piper Sandler lowered their target price on Magnolia Oil & Gas from $25.00 to $23.00 and set a “neutral” rating on the stock in a research note on Tuesday. KeyCorp set a $29.00 price objective on shares of Magnolia Oil & Gas and gave the stock an “overweight” rating in a research report on Wednesday, October 15th. Mizuho increased their target price on shares of Magnolia Oil & Gas from $25.00 to $26.00 and gave the company a “neutral” rating in a research report on Thursday, October 30th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Magnolia Oil & Gas in a report on Wednesday, October 8th. Finally, William Blair assumed coverage on Magnolia Oil & Gas in a research note on Monday, August 25th. They issued an “outperform” rating on the stock. Five research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Magnolia Oil & Gas presently has an average rating of “Hold” and a consensus price target of $26.25.

Magnolia Oil & Gas Profile

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.