Magnolia Oil & Gas Corp $MGY Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC lessened its stake in shares of Magnolia Oil & Gas Corp (NYSE:MGY) by 52.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 43,348 shares of the company’s stock after selling 48,570 shares during the quarter. SG Americas Securities LLC’s holdings in Magnolia Oil & Gas were worth $1,368,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Salomon & Ludwin LLC grew its stake 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 buying an additional 760 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in Magnolia Oil & Gas by 165.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,386 shares of the company’s stock worth $31,000 after acquiring an additional 864 shares in the last quarter. Torren Management LLC purchased a new position in Magnolia Oil & Gas in the 4th quarter worth approximately $38,000. Parallel Advisors LLC boosted its holdings in Magnolia Oil & Gas by 79.8% in the 4th quarter. Parallel Advisors LLC now owns 1,769 shares of the company’s stock worth $39,000 after acquiring an additional 785 shares during the period. Finally, First Horizon Corp grew its position in Magnolia Oil & Gas by 159.8% in the fourth quarter. First Horizon Corp now owns 1,889 shares of the company’s stock valued at $41,000 after acquiring an additional 1,162 shares in the last quarter. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on MGY shares. Citigroup dropped their price objective on shares of Magnolia Oil & Gas from $35.00 to $32.00 and set a “neutral” rating on the stock in a research note on Monday, April 13th. Roth Mkm upgraded shares of Magnolia Oil & Gas from a “neutral” rating to a “buy” rating and set a $31.00 target price for the company in a research note on Monday, June 22nd. Wells Fargo & Company lowered their price target on shares of Magnolia Oil & Gas from $32.00 to $31.00 and set an “equal weight” rating for the company in a report on Wednesday, May 13th. Mizuho lifted their price target on shares of Magnolia Oil & Gas from $33.00 to $35.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 27th. Finally, Zacks Research downgraded shares of Magnolia Oil & Gas from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 19th. Eight research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $31.33.

Magnolia Oil & Gas Trading Down 0.2%

Shares of MGY opened at $25.14 on Friday. Magnolia Oil & Gas Corp has a one year low of $21.07 and a one year high of $32.76. The stock has a 50-day moving average price of $27.97 and a 200 day moving average price of $26.99. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.10 and a current ratio of 1.10. The company has a market capitalization of $4.65 billion, a P/E ratio of 14.62 and a beta of 0.70.

Magnolia Oil & Gas (NYSE:MGY) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $358.51 million for the quarter, compared to the consensus estimate of $349.89 million. During the same period in the previous year, the business earned $0.54 EPS. Magnolia Oil & Gas’s revenue for the quarter was up 2.3% compared to the same quarter last year. Sell-side analysts forecast that Magnolia Oil & Gas Corp will post 2.83 EPS for the current fiscal year.

Magnolia Oil & Gas Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Tuesday, May 12th were given a dividend of $0.165 per share. The ex-dividend date of this dividend was Tuesday, May 12th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 2.6%. 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).