Cambiar Investors LLC Reduces Position in Magnolia Oil & Gas Corp $MGY

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 decreased 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 Form 13F filing with the SEC. The institutional investor owned 489,866 shares of the company's stock after selling 68,822 shares during the period. Cambiar Investors LLC owned 0.25% of Magnolia Oil & Gas worth $12,374,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in MGY. First Trust Advisors LP increased its position in shares of Magnolia Oil & Gas by 24.6% during the fourth quarter. First Trust Advisors LP now owns 15,410,496 shares of the company's stock valued at $360,297,000 after acquiring an additional 3,038,709 shares in the last quarter. Nuveen LLC bought a new stake in shares of Magnolia Oil & Gas during the first quarter valued at approximately $21,066,000. Janus Henderson Group PLC increased its position in shares of Magnolia Oil & Gas by 11.7% during the fourth quarter. Janus Henderson Group PLC now owns 6,396,875 shares of the company's stock valued at $149,559,000 after acquiring an additional 667,973 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Magnolia Oil & Gas by 12.5% during the first quarter. Dimensional Fund Advisors LP now owns 5,365,892 shares of the company's stock valued at $135,541,000 after acquiring an additional 597,845 shares in the last quarter. Finally, American Century Companies Inc. increased its position in shares of Magnolia Oil & Gas by 5.7% during the first quarter. American Century Companies Inc. now owns 10,502,353 shares of the company's stock valued at $265,289,000 after acquiring an additional 562,223 shares in the last quarter. Institutional investors own 94.73% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Citigroup reissued a "sell" rating on shares of Magnolia Oil & Gas in a research report on Thursday, July 10th. UBS Group reissued 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 for the company in a research report on Monday, June 16th. Piper Sandler lifted their target price 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. Finally, Bank of America lifted their target price on shares of Magnolia Oil & Gas from $23.00 to $25.00 and gave the stock a "neutral" rating in a research report on Friday, May 23rd. Three 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 company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $26.67.

Magnolia Oil & Gas Stock Performance

NYSE:MGY traded up $0.8130 during trading hours on Friday, reaching $24.1730. The company had a trading volume of 640,487 shares, compared to its average volume of 2,635,160. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.20. Magnolia Oil & Gas Corp has a 52 week low of $19.09 and a 52 week high of $29.02. The firm has a market cap of $4.61 billion, a price-to-earnings ratio of 12.66, a PEG ratio of 3.00 and a beta of 1.31. The firm's 50 day moving average price is $23.51 and its 200-day moving average price is $22.95.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.03. The business had revenue of $318.98 million for the quarter, compared to analysts' expectations 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 quarter last year, the company posted $0.51 EPS. On average, analysts forecast that Magnolia Oil & Gas Corp will post 2.1 EPS for the current year.

Magnolia Oil & Gas Dividend Announcement

The firm 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 dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 2.5%. The ex-dividend date is Monday, August 11th. Magnolia Oil & Gas's dividend payout ratio (DPR) is currently 31.41%.

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.