Squarepoint Ops LLC Cuts Position in Magnolia Oil & Gas Corp $MGY

Squarepoint Ops LLC cut its holdings in Magnolia Oil & Gas Corp (NYSE:MGY) by 5.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 430,380 shares of the company’s stock after selling 24,473 shares during the period. Squarepoint Ops LLC owned about 0.18% of Magnolia Oil & Gas worth $11,009,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of MGY. Valued Wealth Advisors LLC bought a new position in Magnolia Oil & Gas in the 1st quarter valued at $29,000. EverSource Wealth Advisors LLC raised its stake in shares of 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 purchasing an additional 864 shares during the period. Harbor Investment Advisory LLC purchased a new position in shares of Magnolia Oil & Gas in the 2nd quarter worth about $39,000. Parallel Advisors LLC boosted its holdings in shares of 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 buying an additional 785 shares during the last quarter. Finally, Geneos Wealth Management Inc. grew its position in Magnolia Oil & Gas by 90.5% during the second quarter. Geneos Wealth Management Inc. now owns 2,212 shares of the company’s stock valued at $50,000 after buying an additional 1,051 shares during the period. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Magnolia Oil & Gas Price Performance

NYSE MGY opened at $27.77 on Thursday. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 0.18. The company has a market cap of $6.58 billion, a PE ratio of 12.18 and a beta of 0.70. Magnolia Oil & Gas Corp has a 52 week low of $21.07 and a 52 week high of $32.76. The firm’s 50-day simple moving average is $26.12 and its two-hundred day simple moving average is $27.84.

Magnolia Oil & Gas (NYSE:MGY) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.06. The company had revenue of $478.81 million for the quarter, compared to analyst estimates of $458.10 million. Magnolia Oil & Gas had a net margin of 28.77% and a return on equity of 21.04%. The company’s quarterly revenue was up 50.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.41 earnings per share. Research analysts predict that Magnolia Oil & Gas Corp will post 2.91 earnings per share for the current year.

Magnolia Oil & Gas Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Monday, August 10th were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend was Monday, August 10th. This is a positive change from Magnolia Oil & Gas’s previous quarterly dividend of $0.17. Magnolia Oil & Gas’s payout ratio is presently 31.58%.

Insider Transactions at Magnolia Oil & Gas

In related news, Director David Khani bought 8,000 shares of the company’s stock in a transaction on Friday, August 7th. The shares were purchased at an average price of $25.00 per share, for a total transaction of $200,000.00. Following the completion of the transaction, the director directly owned 30,622 shares in the company, valued at approximately $765,550. The trade was a 35.36% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.92% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Citigroup decreased their price objective 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, August 11th. Zacks Research cut shares of Magnolia Oil & Gas from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 19th. Weiss Ratings upgraded shares of Magnolia Oil & Gas from a “hold (c)” rating to a “buy (b-)” rating in a research note on Tuesday, August 11th. Susquehanna lifted their price target on shares of Magnolia Oil & Gas from $36.00 to $37.00 and gave the stock a “positive” rating in a report on Tuesday, August 11th. Finally, Wall Street Zen upgraded Magnolia Oil & Gas from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $31.71.

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).