AlphaQuest LLC Sells 70,582 Shares of Magnolia Oil & Gas Corp $MGY

Key Points

• AlphaQuest LLC has significantly reduced its stake in Magnolia Oil & Gas Corp by selling 70,582 shares, representing an 80.6% decrease, leaving it with only 17,019 shares valued at approximately $430,000.
• Magnolia Oil & Gas is preparing to distribute a quarterly dividend of $0.15, yielding 2.5%, to shareholders of record on August 11th.
• Following earnings results that beat expectations, analysts have set a consensus target price of $26.67 for Magnolia Oil & Gas, with ratings ranging from "Buy" to "Sell."

AlphaQuest LLC lessened its position in Magnolia Oil & Gas Corp (NYSE:MGY - Free Report) by 80.6% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 17,019 shares of the company's stock after selling 70,582 shares during the period. AlphaQuest LLC's holdings in Magnolia Oil & Gas were worth $430,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Opal Wealth Advisors LLC acquired a new position in Magnolia Oil & Gas during the 1st quarter worth about $30,000. Quarry LP lifted its position in Magnolia Oil & Gas by 1,047.8% during the 4th quarter. Quarry LP now owns 2,135 shares of the company's stock worth $50,000 after buying an additional 1,949 shares in the last quarter. Parallel Advisors LLC lifted its position in Magnolia Oil & Gas by 122.8% during the 1st quarter. Parallel Advisors LLC now owns 2,308 shares of the company's stock worth $58,000 after buying an additional 1,272 shares in the last quarter. Farther Finance Advisors LLC lifted its position in Magnolia Oil & Gas by 16.8% during the 1st quarter. Farther Finance Advisors LLC now owns 4,366 shares of the company's stock worth $111,000 after buying an additional 629 shares in the last quarter. Finally, Pacer Advisors Inc. acquired a new position in Magnolia Oil & Gas during the 1st quarter worth about $136,000. Institutional investors and hedge funds own 94.73% of the company's stock.

Magnolia Oil & Gas Trading Up 0.5%

Magnolia Oil & Gas stock traded up $0.13 during trading hours on Monday, reaching $24.96. 2,589,278 shares of the company's stock traded hands, compared to its average volume of 2,204,822. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.44 and a current ratio of 1.44. Magnolia Oil & Gas Corp has a fifty-two week low of $19.09 and a fifty-two week high of $29.02. The firm has a market capitalization of $4.76 billion, a price-to-earnings ratio of 13.07, a PEG ratio of 3.28 and a beta of 1.33. The firm's 50 day moving average is $23.60 and its 200-day moving average is $23.00.

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

Magnolia Oil & Gas Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Monday, August 11th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Monday, August 11th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.4%. Magnolia Oil & Gas's dividend payout ratio is 31.41%.

Analysts Set New Price Targets

Several research analysts recently issued reports on MGY shares. Piper Sandler upped their price target on shares of Magnolia Oil & Gas from $24.00 to $25.00 and gave the stock a "neutral" rating in a research report on Thursday, July 17th. Citigroup reiterated a "sell" rating on shares of Magnolia Oil & Gas in a research report on Thursday, July 10th. UBS Group reiterated a "buy" rating and set a $29.00 price target (up previously from $26.00) on shares of Magnolia Oil & Gas in a research report on Friday, June 13th. Wells Fargo & Company reduced their price target on shares of Magnolia Oil & Gas from $22.00 to $21.00 and set an "underweight" rating on the stock in a research report on Monday, June 16th. Finally, Bank of America upped their target price on shares of Magnolia Oil & Gas from $23.00 to $25.00 and gave the company a "neutral" rating in a research report on Friday, May 23rd. Four research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $26.67.

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.