Systematic Financial Management LP Sells 125,626 Shares of Magnolia Oil & Gas Corp $MGY

Systematic Financial Management LP cut its position in shares of Magnolia Oil & Gas Corp (NYSE:MGY) by 4.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,813,278 shares of the company’s stock after selling 125,626 shares during the period. Magnolia Oil & Gas accounts for about 2.0% of Systematic Financial Management LP’s investment portfolio, making the stock its 2nd largest position. Systematic Financial Management LP’s holdings in Magnolia Oil & Gas were worth $88,815,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Salomon & Ludwin LLC grew its stake in shares of Magnolia Oil & Gas by 130.1% in the 4th 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. Valued Wealth Advisors LLC bought a new position in Magnolia Oil & Gas during the first quarter valued at approximately $29,000. EverSource Wealth Advisors LLC raised its position in Magnolia Oil & Gas by 165.5% during the second quarter. EverSource Wealth Advisors LLC now owns 1,386 shares of the company’s stock valued at $31,000 after acquiring an additional 864 shares in the last quarter. Torren Management LLC acquired a new stake in Magnolia Oil & Gas in the fourth quarter valued at approximately $38,000. Finally, Parallel Advisors LLC lifted its stake in Magnolia Oil & Gas by 79.8% in the fourth quarter. Parallel Advisors LLC now owns 1,769 shares of the company’s stock valued at $39,000 after acquiring an additional 785 shares during the last quarter. 94.73% of the stock is currently owned by institutional investors and hedge funds.

Magnolia Oil & Gas Stock Up 0.7%

MGY opened at $25.78 on Friday. The business has a 50 day moving average price of $27.11 and a 200 day moving average price of $27.43. Magnolia Oil & Gas Corp has a twelve month low of $21.07 and a twelve month high of $32.76. 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 firm has a market cap of $4.77 billion, a P/E ratio of 14.99 and a beta of 0.70.

Magnolia Oil & Gas (NYSE:MGY) last announced its earnings results on Wednesday, May 6th. The company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $358.51 million during the quarter, compared to analysts’ expectations of $349.89 million. During the same quarter in the prior year, the business earned $0.54 earnings per share. The company’s revenue was up 2.3% on a year-over-year basis. Research analysts forecast that Magnolia Oil & Gas Corp will post 2.7 EPS for the current year.

Magnolia Oil & Gas Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Tuesday, May 12th were paid a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date was Tuesday, May 12th. Magnolia Oil & Gas’s payout ratio is presently 38.37%.

Analyst Ratings Changes

MGY has been the subject of several recent research reports. Mizuho decreased their target price on shares of Magnolia Oil & Gas from $35.00 to $33.00 and set an “outperform” rating for the company in a research report on Wednesday. Citigroup cut their price target on shares of Magnolia Oil & Gas from $35.00 to $32.00 and set a “neutral” rating on the stock in a report on Monday, April 13th. Weiss Ratings lowered shares of Magnolia Oil & Gas from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, May 21st. Zacks Research cut shares of Magnolia Oil & Gas from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 19th. Finally, UBS Group lowered their target price on shares of Magnolia Oil & Gas from $38.00 to $34.00 and set a “buy” rating on the stock in a research report on Friday, July 10th. Eight research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $31.42.

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).