Entropy Technologies LP Sells 14,603 Shares of Magnolia Oil & Gas Corp $MGY

Key Points

• Entropy Technologies LP reduced its stake in Magnolia Oil & Gas Corp by 55.1% in Q1, now holding 11,900 shares valued at $301,000.
• Analyst ratings show mixed sentiment, with Wells Fargo downgrading the stock to "underweight" while UBS upgraded its target price to $29.00, reflecting varied confidence among financial analysts.
• Magnolia Oil & Gas reported a quarterly EPS of $0.43, exceeding estimates, but revenue declined 5.3% year-over-year, indicating potential challenges in maintaining growth.

Entropy Technologies LP cut its stake in shares of Magnolia Oil & Gas Corp (NYSE:MGY - Free Report) by 55.1% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,900 shares of the company's stock after selling 14,603 shares during the period. Entropy Technologies LP's holdings in Magnolia Oil & Gas were worth $301,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of MGY. First Trust Advisors LP raised 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 worth $360,297,000 after purchasing an additional 3,038,709 shares during the period. Janus Henderson Group PLC raised 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 worth $149,559,000 after purchasing an additional 667,973 shares during the period. Ruffer LLP acquired a new position in Magnolia Oil & Gas during the first quarter valued at $6,577,000. Jefferies Financial Group Inc. acquired a new position in Magnolia Oil & Gas during the first quarter valued at $6,503,000. Finally, Charles Schwab Investment Management Inc. raised its position in Magnolia Oil & Gas by 11.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 2,315,012 shares of the company's stock valued at $58,477,000 after buying an additional 238,471 shares during the period. 94.73% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. 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 from $26.00) on shares of Magnolia Oil & Gas in a research report on Friday, June 13th. Bank of America upped their price target on Magnolia Oil & Gas from $23.00 to $25.00 and gave the company a "neutral" rating in a research report on Friday, May 23rd. Piper Sandler upped their price target 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, Susquehanna dropped their price target on Magnolia Oil & Gas from $31.00 to $30.00 and set a "positive" rating on the stock in a research report on Tuesday, April 22nd. Three analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Magnolia Oil & Gas has an average rating of "Hold" and an average price target of $26.67.

Magnolia Oil & Gas Stock Down 0.8%

NYSE MGY traded down $0.1770 on Tuesday, reaching $23.0830. The stock had a trading volume of 203,795 shares, compared to its average volume of 2,656,570. The business has a 50 day moving average price of $23.54 and a 200 day moving average price of $22.95. 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 1 year low of $19.09 and a 1 year high of $29.02. The company has a market capitalization of $4.40 billion, a price-to-earnings ratio of 12.10, a P/E/G ratio of 3.06 and a beta of 1.31.

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

Magnolia Oil & Gas Dividend Announcement

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 dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 2.6%. The ex-dividend date is Monday, August 11th. Magnolia Oil & Gas's dividend payout ratio is 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.