Aberdeen Group plc Sells 74,464 Shares of Magnolia Oil & Gas Corp $MGY

Key Points

• Aberdeen Group plc reduced its shares in Magnolia Oil & Gas Corp by 12.0%, selling 74,464 shares during the second quarter, and now owns approximately 0.28% of the company valued at $12,280,000.
• Magnolia Oil & Gas reported a net margin of 27.57% and quarterly earnings of $0.43 per share, surpassing expectations of $0.40.
• Magnolia Oil & Gas declared a quarterly dividend of $0.15, translating to an annualized dividend of $0.60 with a yield of 2.6%.

Aberdeen Group plc lowered its position in shares of Magnolia Oil & Gas Corp (NYSE:MGY - Free Report) by 12.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 546,267 shares of the company's stock after selling 74,464 shares during the quarter. Aberdeen Group plc owned about 0.28% of Magnolia Oil & Gas worth $12,280,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. State of Wyoming grew its stake in Magnolia Oil & Gas by 8.2% in the first quarter. State of Wyoming now owns 5,777 shares of the company's stock valued at $146,000 after acquiring an additional 440 shares during the period. Farther Finance Advisors LLC lifted its holdings in shares of Magnolia Oil & Gas by 16.8% in the 1st quarter. Farther Finance Advisors LLC now owns 4,366 shares of the company's stock worth $111,000 after purchasing an additional 629 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Magnolia Oil & Gas by 4.8% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 15,470 shares of the company's stock worth $391,000 after purchasing an additional 715 shares in the last quarter. HighTower Advisors LLC grew its position in Magnolia Oil & Gas by 4.9% in the 1st quarter. HighTower Advisors LLC now owns 15,852 shares of the company's stock valued at $400,000 after purchasing an additional 746 shares during the period. Finally, Xponance Inc. increased its stake in Magnolia Oil & Gas by 6.1% during the 1st quarter. Xponance Inc. now owns 13,051 shares of the company's stock valued at $330,000 after purchasing an additional 752 shares in the last quarter. 94.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently commented on MGY. KeyCorp set a $29.00 target price on shares of Magnolia Oil & Gas and gave the stock an "overweight" rating in a research report on Wednesday. Weiss Ratings reissued a "hold (c)" rating on shares of Magnolia Oil & Gas in a report on Wednesday, October 8th. William Blair began coverage on Magnolia Oil & Gas in a research note on Monday, August 25th. They issued an "outperform" rating for the company. Piper Sandler lifted their target price on Magnolia Oil & Gas from $24.00 to $25.00 and gave the company a "neutral" rating in a research report on Thursday, July 17th. Finally, Mizuho decreased their price target on Magnolia Oil & Gas from $26.00 to $25.00 and set a "neutral" rating for the company in a report on Monday, September 15th. Five investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Magnolia Oil & Gas presently has a consensus rating of "Hold" and an average price target of $26.33.

Magnolia Oil & Gas Trading Up 0.7%

Shares of Magnolia Oil & Gas stock opened at $23.24 on Thursday. The firm has a market cap of $4.43 billion, a PE ratio of 12.17, a P/E/G ratio of 3.05 and a beta of 1.24. Magnolia Oil & Gas Corp has a 1 year low of $19.09 and a 1 year high of $29.02. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.44 and a quick ratio of 1.44. The stock has a fifty day moving average price of $23.97 and a 200-day moving average price of $23.04.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.03. Magnolia Oil & Gas had a net margin of 27.57% and a return on equity of 19.34%. The company had revenue of $318.98 million during the quarter, compared to analyst estimates of $311.58 million. During the same quarter in the prior year, the business earned $0.51 earnings per share. The firm's revenue for the quarter was down 5.3% on a year-over-year basis. Equities research analysts anticipate that Magnolia Oil & Gas Corp will post 2.1 EPS for the current year.

Magnolia Oil & Gas Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 11th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend was Monday, August 11th. Magnolia Oil & Gas's payout ratio is 31.41%.

About Magnolia Oil & Gas

Magnolia Oil & Gas Corp. engages in the acquisition, development, exploration, and production of oil and natural gas properties. It operates assets located in the Eagle Ford Shale and Austin Chalk formations in South Texas. The company was founded on February 14, 2017 and is headquartered in Houston, TX.

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