Bank of New York Mellon Corp Has $50.08 Million Stock Position in Magnolia Oil & Gas Co. (NYSE:MGY)

Bank of New York Mellon Corp grew its position in shares of Magnolia Oil & Gas Co. (NYSE:MGY - Free Report) by 1.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,976,184 shares of the company's stock after purchasing an additional 36,018 shares during the period. Bank of New York Mellon Corp owned 0.97% of Magnolia Oil & Gas worth $50,077,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. California Public Employees Retirement System boosted its position in Magnolia Oil & Gas by 3.3% during the fourth quarter. California Public Employees Retirement System now owns 341,172 shares of the company's stock worth $7,264,000 after acquiring an additional 10,965 shares during the last quarter. Truist Financial Corp boosted its holdings in shares of Magnolia Oil & Gas by 1.3% during the fourth quarter. Truist Financial Corp now owns 122,272 shares of the company's stock worth $2,603,000 after purchasing an additional 1,521 shares during the last quarter. Russell Investments Group Ltd. grew its position in shares of Magnolia Oil & Gas by 72.9% in the fourth quarter. Russell Investments Group Ltd. now owns 264,677 shares of the company's stock valued at $5,635,000 after purchasing an additional 111,558 shares during the period. Los Angeles Capital Management LLC increased its stake in Magnolia Oil & Gas by 280.6% in the fourth quarter. Los Angeles Capital Management LLC now owns 48,635 shares of the company's stock valued at $1,035,000 after purchasing an additional 35,856 shares during the last quarter. Finally, Gallacher Capital Management LLC purchased a new position in Magnolia Oil & Gas during the fourth quarter worth about $485,000. 94.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MGY has been the subject of several recent analyst reports. Truist Financial lifted their price target on Magnolia Oil & Gas from $34.00 to $35.00 and gave the company a "buy" rating in a report on Friday, August 2nd. Wells Fargo & Company dropped their price target on shares of Magnolia Oil & Gas from $27.00 to $26.00 and set an "equal weight" rating for the company in a research report on Monday, August 5th. Mizuho lifted their price target on shares of Magnolia Oil & Gas from $26.00 to $28.00 and gave the company a "neutral" rating in a report on Monday, May 13th. Wolfe Research assumed coverage on shares of Magnolia Oil & Gas in a research note on Thursday, July 18th. They set an "outperform" rating and a $32.00 price objective for the company. Finally, Benchmark reaffirmed a "hold" rating on shares of Magnolia Oil & Gas in a research report on Thursday, July 18th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, Magnolia Oil & Gas has a consensus rating of "Hold" and an average target price of $28.70.

Magnolia Oil & Gas Stock Down 0.9 %

NYSE MGY traded down $0.22 during trading hours on Friday, hitting $25.61. The company had a trading volume of 2,015,560 shares, compared to its average volume of 1,917,010. The firm's 50 day moving average is $25.53 and its 200 day moving average is $25.06. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.28 and a quick ratio of 1.28. Magnolia Oil & Gas Co. has a fifty-two week low of $19.16 and a fifty-two week high of $27.63. The company has a market capitalization of $5.10 billion, a price-to-earnings ratio of 12.74, a P/E/G ratio of 1.22 and a beta of 2.02.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last posted its earnings results on Wednesday, July 31st. The company reported $0.56 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.51 by $0.05. The business had revenue of $336.73 million during the quarter, compared to analyst estimates of $340.72 million. Magnolia Oil & Gas had a return on equity of 21.18% and a net margin of 29.44%. Sell-side analysts anticipate that Magnolia Oil & Gas Co. will post 2.13 earnings per share for the current fiscal year.

Magnolia Oil & Gas Announces Dividend

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 paid a dividend of $0.13 per share. The ex-dividend date is Friday, August 9th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.03%. Magnolia Oil & Gas's dividend payout ratio is currently 25.87%.

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.