Magnolia Oil & Gas Corp $MGY Shares Sold by Northern Trust Corp

Key Points

• Northern Trust Corp reduced its stake in Magnolia Oil & Gas Corp by 3.9%, owning approximately 1,861,826 shares valued at $47 million.
• Research analysts have mixed ratings on Magnolia Oil & Gas, with four "Buy," eight "Hold," and two "Sell" ratings, while the average price target is $26.67.
• The company announced a quarterly dividend of $0.15 per share with an annualized yield of 2.4%, and reported a revenue of $318.98 million for the last quarter, slightly above expectations.

Northern Trust Corp decreased its stake in Magnolia Oil & Gas Corp (NYSE:MGY - Free Report) by 3.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,861,826 shares of the company's stock after selling 74,572 shares during the period. Northern Trust Corp owned approximately 0.96% of Magnolia Oil & Gas worth $47,030,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in MGY. Susquehanna International Group LLP lifted its stake in shares of Magnolia Oil & Gas by 86.9% in the fourth quarter. Susquehanna International Group LLP now owns 150,512 shares of the company's stock valued at $3,519,000 after purchasing an additional 69,995 shares during the period. Voya Investment Management LLC lifted its stake in shares of Magnolia Oil & Gas by 1.8% in the fourth quarter. Voya Investment Management LLC now owns 56,232 shares of the company's stock valued at $1,315,000 after purchasing an additional 1,019 shares during the period. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Magnolia Oil & Gas in the fourth quarter valued at about $2,324,000. Aquatic Capital Management LLC acquired a new stake in shares of Magnolia Oil & Gas in the fourth quarter valued at about $1,446,000. Finally, Quarry LP lifted its stake in shares of Magnolia Oil & Gas by 1,047.8% in the fourth quarter. Quarry LP now owns 2,135 shares of the company's stock valued at $50,000 after purchasing an additional 1,949 shares during the period. Institutional investors and hedge funds own 94.73% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on MGY. Citigroup restated a "sell" rating on shares of Magnolia Oil & Gas in a research report on Thursday, July 10th. Piper Sandler lifted their price objective on 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 lowered their target price on Magnolia Oil & Gas from $22.00 to $21.00 and set an "underweight" rating on the stock in a report on Monday, June 16th. 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. Finally, William Blair started coverage on Magnolia Oil & Gas in a research report on Monday, August 25th. They issued an "outperform" rating on the stock. Four 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's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $26.67.

Magnolia Oil & Gas Trading Up 0.5%

Shares of 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 were exchanged, compared to its average volume of 2,204,822. Magnolia Oil & Gas Corp has a 52-week low of $19.09 and a 52-week high of $29.02. The company has a fifty day moving average of $23.57 and a 200-day moving average of $22.99. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $4.76 billion, a price-to-earnings ratio of 13.07, a price-to-earnings-growth ratio of 3.28 and a beta of 1.33.

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

Magnolia Oil & Gas Announces Dividend

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