Epoch Investment Partners Inc. Sells 1,054,555 Shares of Magnolia Oil & Gas Corp $MGY

Epoch Investment Partners Inc. reduced its stake in Magnolia Oil & Gas Corp (NYSE:MGY) by 19.8% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,275,509 shares of the company’s stock after selling 1,054,555 shares during the quarter. Magnolia Oil & Gas comprises approximately 0.8% of Epoch Investment Partners Inc.’s holdings, making the stock its 29th largest position. Epoch Investment Partners Inc.’s holdings in Magnolia Oil & Gas were worth $134,978,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in MGY. Valued Wealth Advisors LLC bought a new position in Magnolia Oil & Gas during the 1st quarter valued at approximately $29,000. Salomon & Ludwin LLC boosted its holdings in Magnolia Oil & Gas by 130.1% in the fourth quarter. Salomon & Ludwin LLC now owns 1,344 shares of the company’s stock worth $29,000 after acquiring an additional 760 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Magnolia Oil & Gas by 165.5% in the second quarter. EverSource Wealth Advisors LLC now owns 1,386 shares of the company’s stock worth $31,000 after acquiring an additional 864 shares during the last quarter. Torren Management LLC purchased a new stake in shares of Magnolia Oil & Gas in the fourth quarter worth $38,000. Finally, Parallel Advisors LLC increased its holdings in shares of Magnolia Oil & Gas by 79.8% during the fourth quarter. Parallel Advisors LLC now owns 1,769 shares of the company’s stock valued at $39,000 after acquiring an additional 785 shares in the last quarter. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on MGY shares. Truist Financial lowered their price target on Magnolia Oil & Gas from $34.00 to $32.00 and set a “hold” rating for the company in a research report on Tuesday, July 7th. Mizuho reduced their price objective on shares of Magnolia Oil & Gas from $35.00 to $33.00 and set an “outperform” rating for the company in a research note on Wednesday. Weiss Ratings cut shares of Magnolia Oil & Gas from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, May 21st. Zacks Research cut shares of Magnolia Oil & Gas from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 19th. Finally, KeyCorp reiterated an “overweight” rating on shares of Magnolia Oil & Gas in a research note on Monday, June 29th. Eight research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $31.42.

Magnolia Oil & Gas Trading Down 1.7%

NYSE:MGY opened at $25.33 on Friday. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.19. Magnolia Oil & Gas Corp has a 12 month low of $21.07 and a 12 month high of $32.76. The company has a market cap of $4.69 billion, a PE ratio of 14.73 and a beta of 0.70. The company has a 50 day simple moving average of $27.03 and a two-hundred day simple moving average of $27.42.

Magnolia Oil & Gas (NYSE:MGY) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.03. The firm had revenue of $358.51 million for the quarter, compared to analysts’ expectations of $349.89 million. Magnolia Oil & Gas had a return on equity of 16.28% and a net margin of 24.40%.The company’s revenue was up 2.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.54 EPS. Research analysts forecast that Magnolia Oil & Gas Corp will post 2.7 earnings per share for the current year.

Magnolia Oil & Gas Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Tuesday, May 12th were issued a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend was Tuesday, May 12th. Magnolia Oil & Gas’s dividend payout ratio is currently 38.37%.

Magnolia Oil & Gas 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).