UBS Group AG Reduces Position in Magnolia Oil & Gas Corp $MGY

UBS Group AG lowered its holdings in Magnolia Oil & Gas Corp (NYSE:MGY) by 49.8% in the fourth quarter, HoldingsChannel reports. The firm owned 874,758 shares of the company’s stock after selling 868,663 shares during the period. UBS Group AG’s holdings in Magnolia Oil & Gas were worth $19,148,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of MGY. GAMMA Investing LLC boosted its stake in shares of Magnolia Oil & Gas by 8.0% during the 4th quarter. GAMMA Investing LLC now owns 6,130 shares of the company’s stock valued at $134,000 after buying an additional 453 shares during the last quarter. Coldstream Capital Management Inc. boosted its stake in Magnolia Oil & Gas by 3.1% during the 3rd quarter. Coldstream Capital Management Inc. now owns 15,937 shares of the company’s stock valued at $380,000 after acquiring an additional 482 shares during the last quarter. Amalgamated Bank grew its holdings in Magnolia Oil & Gas by 1.0% during the 3rd quarter. Amalgamated Bank now owns 53,307 shares of the company’s stock worth $1,272,000 after acquiring an additional 552 shares in the last quarter. Lazard Asset Management LLC increased its position in shares of Magnolia Oil & Gas by 0.4% in the 2nd quarter. Lazard Asset Management LLC now owns 167,071 shares of the company’s stock worth $3,755,000 after purchasing an additional 671 shares during the last quarter. Finally, Smartleaf Asset Management LLC raised its stake in shares of Magnolia Oil & Gas by 19.7% in the 3rd quarter. Smartleaf Asset Management LLC now owns 4,202 shares of the company’s stock valued at $102,000 after purchasing an additional 691 shares in the last quarter. 94.73% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Benchmark reissued a “hold” rating on shares of Magnolia Oil & Gas in a report on Wednesday, January 21st. Roth Mkm reiterated a “neutral” rating and issued a $32.00 target price (up from $29.00) on shares of Magnolia Oil & Gas in a research report on Wednesday, April 8th. Susquehanna dropped their price target on Magnolia Oil & Gas from $30.00 to $28.00 and set a “positive” rating on the stock in a research report on Monday, January 26th. UBS Group raised their price objective on Magnolia Oil & Gas from $29.00 to $35.00 and gave the stock a “buy” rating in a research note on Thursday, March 5th. Finally, Piper Sandler lifted their price objective on shares of Magnolia Oil & Gas from $28.00 to $31.00 and gave the stock a “neutral” rating in a report on Thursday, March 12th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, Magnolia Oil & Gas presently has a consensus rating of “Moderate Buy” and a consensus price target of $31.08.

Magnolia Oil & Gas Stock Performance

Shares of MGY stock opened at $28.23 on Tuesday. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.19. The business has a 50 day moving average of $29.69 and a two-hundred day moving average of $25.70. The company has a market cap of $5.26 billion, a P/E ratio of 16.41, a PEG ratio of 1.71 and a beta of 0.75. Magnolia Oil & Gas Corp has a 52 week low of $21.07 and a 52 week high of $32.76.

Magnolia Oil & Gas (NYSE:MGY) last announced its quarterly earnings results 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 business had revenue of $358.51 million for the quarter, compared to the consensus estimate of $349.89 million. During the same quarter last year, the business posted $0.54 EPS. The business’s revenue was up 2.3% on a year-over-year basis. As a group, analysts anticipate that Magnolia Oil & Gas Corp will post 2.82 EPS for the current year.

Magnolia Oil & Gas Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Tuesday, May 12th will be given a dividend of $0.165 per share. The ex-dividend date is Tuesday, May 12th. This represents a $0.66 annualized dividend and a dividend yield of 2.3%. Magnolia Oil & Gas’s dividend payout ratio is currently 38.37%.

Insiders Place Their Bets

In other Magnolia Oil & Gas news, CFO Brian Corales sold 33,000 shares of the firm’s stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $29.12, for a total value of $960,960.00. Following the sale, the chief financial officer owned 184,178 shares in the company, valued at approximately $5,363,263.36. This trade represents a 15.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Christopher G. Stavros sold 119,954 shares of the business’s stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $29.29, for a total value of $3,513,452.66. Following the transaction, the chief executive officer owned 883,592 shares of the company’s stock, valued at approximately $25,880,409.68. This represents a 11.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 338,954 shares of company stock worth $9,911,733. 0.92% of the stock is owned by company insiders.

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).