Jacobs Levy Equity Management Inc. Has $1.15 Million Stake in Magnolia Oil & Gas Corp $MGY

Key Points

• Jacobs Levy Equity Management Inc. significantly reduced its stake in Magnolia Oil & Gas by selling 250,315 shares, representing a decrease of 84.7%, which left them with 45,364 shares valued at approximately $1.15 million.
• Magnolia Oil & Gas reported a quarterly earnings per share of $0.43, exceeding analyst expectations of $0.40, despite a 5.3% decline in revenue year-over-year.
• The company recently declared a quarterly dividend of $0.15 per share, resulting in an annualized dividend yield of 2.5% and a payout ratio of 31.41%.

Jacobs Levy Equity Management Inc. lowered its position in Magnolia Oil & Gas Corp (NYSE:MGY - Free Report) by 84.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 45,364 shares of the company's stock after selling 250,315 shares during the quarter. Jacobs Levy Equity Management Inc.'s holdings in Magnolia Oil & Gas were worth $1,146,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Opal Wealth Advisors LLC acquired a new stake in shares of Magnolia Oil & Gas in the first quarter valued at approximately $30,000. Parallel Advisors LLC lifted its holdings in Magnolia Oil & Gas by 122.8% in the first quarter. Parallel Advisors LLC now owns 2,308 shares of the company's stock worth $58,000 after purchasing an additional 1,272 shares during the period. Farther Finance Advisors LLC lifted its holdings in Magnolia Oil & Gas by 16.8% in the first quarter. Farther Finance Advisors LLC now owns 4,366 shares of the company's stock worth $111,000 after purchasing an additional 629 shares during the period. Smartleaf Asset Management LLC lifted its holdings in Magnolia Oil & Gas by 34.3% in the first quarter. Smartleaf Asset Management LLC now owns 5,072 shares of the company's stock worth $128,000 after purchasing an additional 1,295 shares during the period. Finally, Pacer Advisors Inc. acquired a new stake in Magnolia Oil & Gas in the first quarter worth about $136,000. Institutional investors and hedge funds own 94.73% of the company's stock.

Analyst Ratings Changes

MGY has been the topic of a number of research analyst reports. Wells Fargo & Company lowered their price objective 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. Citigroup reiterated a "sell" rating on shares of Magnolia Oil & Gas in a research note on Thursday, July 10th. UBS Group reiterated a "buy" rating and set a $29.00 price objective (up previously from $26.00) on shares of Magnolia Oil & Gas in a research note on Friday, June 13th. Bank of America raised their price objective on shares of Magnolia Oil & Gas from $23.00 to $25.00 and gave the company a "neutral" rating in a research note on Friday, May 23rd. Finally, Piper Sandler raised their price objective on shares of Magnolia Oil & Gas from $24.00 to $25.00 and gave the company a "neutral" rating in a research note on Thursday, July 17th. Four research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $26.42.

Magnolia Oil & Gas Price Performance

NYSE:MGY traded up $0.06 during trading hours on Wednesday, reaching $24.67. 2,157,392 shares of the company's stock were exchanged, compared to its average volume of 2,048,061. The company has a market capitalization of $4.71 billion, a P/E ratio of 12.91, a price-to-earnings-growth ratio of 3.24 and a beta of 1.33. Magnolia Oil & Gas Corp has a 12 month low of $19.09 and a 12 month high of $29.02. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.20. The business's 50-day simple moving average is $23.85 and its two-hundred day simple moving average is $23.04.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported $0.43 earnings per share for the quarter, topping analysts' consensus estimates of $0.40 by $0.03. The firm had revenue of $318.98 million during 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 firm's revenue for the quarter was down 5.3% compared to the same quarter last year. During the same period last year, the firm posted $0.51 earnings per share. Sell-side analysts expect that Magnolia Oil & Gas Corp will post 2.1 EPS for the current fiscal year.

Magnolia Oil & Gas Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 11th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date was Monday, August 11th. Magnolia Oil & Gas's dividend payout ratio (DPR) is presently 31.41%.

Magnolia Oil & Gas 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.