Magnolia Oil & Gas Corp $MGY Shares Sold by Cambiar Investors LLC

Key Points

• Cambiar Investors LLC decreased its stake in Magnolia Oil & Gas by 12.3%, now holding approximately 0.25% of the company valued at $12.37 million.
• Magnolia Oil & Gas recently declared a quarterly dividend of $0.15 per share, resulting in an annualized dividend yield of 2.5%.
• Analysts have mixed ratings on Magnolia Oil & Gas, with a consensus price target of $26.67, and two analysts rating it as a sell.

Cambiar Investors LLC cut its holdings in shares of Magnolia Oil & Gas Corp (NYSE:MGY - Free Report) by 12.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 489,866 shares of the company's stock after selling 68,822 shares during the quarter. Cambiar Investors LLC owned 0.25% of Magnolia Oil & Gas worth $12,374,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of MGY. LPL Financial LLC raised its position in Magnolia Oil & Gas by 55.8% during the 4th quarter. LPL Financial LLC now owns 32,102 shares of the company's stock worth $751,000 after buying an additional 11,493 shares during the last quarter. Wells Fargo & Company MN raised its position in Magnolia Oil & Gas by 22.8% during the 4th quarter. Wells Fargo & Company MN now owns 259,038 shares of the company's stock worth $6,056,000 after buying an additional 48,145 shares during the last quarter. Envestnet Asset Management Inc. raised its position in Magnolia Oil & Gas by 2.6% during the 4th quarter. Envestnet Asset Management Inc. now owns 406,671 shares of the company's stock worth $9,508,000 after buying an additional 10,327 shares during the last quarter. Bank of Montreal Can raised its position in Magnolia Oil & Gas by 6.9% during the 4th quarter. Bank of Montreal Can now owns 40,309 shares of the company's stock worth $942,000 after buying an additional 2,596 shares during the last quarter. Finally, Summit Investment Advisors Inc. raised its position in Magnolia Oil & Gas by 3.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 18,119 shares of the company's stock worth $424,000 after buying an additional 574 shares during the last quarter. 94.73% of the stock is owned by hedge funds and other institutional investors.

Magnolia Oil & Gas Stock Up 0.8%

Shares of NYSE:MGY traded up $0.1750 during trading hours on Thursday, reaching $23.3350. The stock had a trading volume of 908,576 shares, compared to its average volume of 2,647,870. Magnolia Oil & Gas Corp has a 1 year low of $19.09 and a 1 year high of $29.02. The firm's 50 day moving average is $23.52 and its 200-day moving average is $22.95. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.44 and a current ratio of 1.44. The stock has a market capitalization of $4.45 billion, a price-to-earnings ratio of 12.22, a P/E/G ratio of 2.99 and a beta of 1.31.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $0.43 EPS for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $311.58 million. During the same period in the prior year, the firm posted $0.51 EPS. The company's quarterly revenue was down 5.3% compared to the same quarter last year. Research analysts predict that Magnolia Oil & Gas Corp will post 2.1 earnings per share for the current fiscal year.

Magnolia Oil & Gas Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Monday, August 11th will be paid a $0.15 dividend. The ex-dividend date is Monday, August 11th. This represents a $0.60 dividend on an annualized basis and a yield of 2.6%. Magnolia Oil & Gas's payout ratio is currently 31.41%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on MGY shares. Bank of America raised their price objective on shares of Magnolia Oil & Gas from $23.00 to $25.00 and gave the stock a "neutral" rating in a research note on Friday, May 23rd. Piper Sandler boosted 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. Wells Fargo & Company reduced their target price on shares of Magnolia Oil & Gas from $22.00 to $21.00 and set an "underweight" rating on the stock in a research note on Monday, June 16th. UBS Group reaffirmed a "buy" rating and set a $29.00 target price (up from $26.00) on shares of Magnolia Oil & Gas in a research note on Friday, June 13th. Finally, Citigroup reissued a "sell" rating on shares of Magnolia Oil & Gas in a research note on Thursday, July 10th. Three investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Magnolia Oil & Gas currently has a consensus rating of "Hold" and an average price target of $26.67.

Magnolia Oil & Gas Company Profile

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.