Magnolia Oil & Gas Corp $MGY Shares Sold by Pacer Advisors Inc.

Pacer Advisors Inc. trimmed its stake in shares of Magnolia Oil & Gas Corp (NYSE:MGY) by 98.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,603 shares of the company’s stock after selling 579,883 shares during the period. Pacer Advisors Inc.’s holdings in Magnolia Oil & Gas were worth $303,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. AQR Capital Management LLC grew its stake in Magnolia Oil & Gas by 77.7% in the 1st quarter. AQR Capital Management LLC now owns 56,346 shares of the company’s stock valued at $1,423,000 after acquiring an additional 24,631 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Magnolia Oil & Gas by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 103,109 shares of the company’s stock worth $2,605,000 after acquiring an additional 4,512 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Magnolia Oil & Gas by 8.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 242,880 shares of the company’s stock valued at $6,135,000 after purchasing an additional 18,447 shares during the period. Intech Investment Management LLC grew its holdings in Magnolia Oil & Gas by 11.3% in the 1st quarter. Intech Investment Management LLC now owns 68,814 shares of the company’s stock valued at $1,738,000 after buying an additional 7,008 shares during the period. Finally, EverSource Wealth Advisors LLC grew its holdings in Magnolia Oil & Gas by 165.5% in the second quarter. EverSource Wealth Advisors LLC now owns 1,386 shares of the company’s stock valued at $31,000 after purchasing an additional 864 shares during the period. Institutional investors and hedge funds own 94.73% of the company’s stock.

Magnolia Oil & Gas Price Performance

Shares of NYSE:MGY opened at $26.07 on Wednesday. The firm’s 50 day moving average is $26.12 and its two-hundred day moving average is $27.67. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $4.82 billion, a P/E ratio of 11.43 and a beta of 0.72. 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, August 5th. The company reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.06. Magnolia Oil & Gas had a return on equity of 21.04% and a net margin of 28.77%.The company had revenue of $478.81 million during the quarter, compared to analyst estimates of $458.10 million. During the same quarter in the previous year, the firm posted $0.41 EPS. The firm’s quarterly revenue was up 50.1% on a year-over-year basis. Analysts anticipate that Magnolia Oil & Gas Corp will post 2.8 earnings per share for the current year.

Magnolia Oil & Gas Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Monday, August 10th will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 2.8%. This is a boost from Magnolia Oil & Gas’s previous quarterly dividend of $0.17. The ex-dividend date is Monday, August 10th. Magnolia Oil & Gas’s payout ratio is 31.58%.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Zacks Research lowered Magnolia Oil & Gas from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 19th. Citigroup lowered their price target on shares of Magnolia Oil & Gas from $29.00 to $27.00 and set a “neutral” rating for the company in a report on Tuesday. Roth Capital dropped their price objective on Magnolia Oil & Gas from $30.00 to $29.00 and set a “buy” rating on the stock in a report on Thursday, July 23rd. Wells Fargo & Company dropped their target price on shares of Magnolia Oil & Gas from $32.00 to $31.00 and set an “equal weight” rating for the company in a research report on Wednesday, May 13th. Finally, Wall Street Zen upgraded Magnolia Oil & Gas from a “hold” rating to a “buy” rating in a report on Saturday. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $31.17.

Insider Activity

In related news, Director David M. Khani acquired 8,000 shares of the stock in a transaction that occurred on Friday, August 7th. The shares were acquired at an average price of $25.00 per share, for a total transaction of $200,000.00. Following the completion of the purchase, the director directly owned 30,622 shares of the company’s stock, valued at $765,550. The trade was a 35.36% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 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).