Magnolia Oil & Gas Corp $MGY Shares Sold by Systematic Financial Management LP

Key Points

• Systematic Financial Management LP trimmed its Magnolia Oil & Gas stake by 4.3% in Q1, selling 125,626 shares and leaving it with 2.81 million shares valued at about $88.8 million. Magnolia still represents 2.0% of the firm’s portfolio and its second-largest holding.
• Magnolia Oil & Gas reported solid quarterly results, with earnings of $0.54 per share, topping analyst expectations by $0.03, and revenue of $358.5 million, up 2.3% year over year. The company also posted a 24.40% net margin and 16.28% return on equity.
• Analysts are mixed on MGY: recent target cuts came from UBS, Citigroup, and Truist, while Susquehanna raised its price objective. Overall, the stock has a consensus Hold rating with an average price target of $31.42.

Systematic Financial Management LP reduced its position in shares of Magnolia Oil & Gas Corp (NYSE:MGY - Free Report) by 4.3% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,813,278 shares of the company's stock after selling 125,626 shares during the quarter. Magnolia Oil & Gas comprises 2.0% of Systematic Financial Management LP's portfolio, making the stock its 2nd largest holding. Systematic Financial Management LP owned about 1.51% of Magnolia Oil & Gas worth $88,815,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Salomon & Ludwin LLC raised its stake in shares of Magnolia Oil & Gas by 130.1% in the 4th quarter. Salomon & Ludwin LLC now owns 1,344 shares of the company's stock worth $29,000 after buying an additional 760 shares in the last quarter. Valued Wealth Advisors LLC bought a new position in Magnolia Oil & Gas during the first quarter valued at about $29,000. EverSource Wealth Advisors LLC grew its holdings in Magnolia Oil & Gas by 165.5% during the second quarter. EverSource Wealth Advisors LLC now owns 1,386 shares of the company's stock worth $31,000 after acquiring an additional 864 shares during the period. Torren Management LLC acquired a new position in Magnolia Oil & Gas during the fourth quarter worth about $38,000. Finally, Parallel Advisors LLC raised its position in Magnolia Oil & Gas by 79.8% in the fourth quarter. Parallel Advisors LLC now owns 1,769 shares of the company's stock worth $39,000 after acquiring an additional 785 shares in the last quarter. 94.73% of the stock is currently owned by institutional investors and hedge funds.

Magnolia Oil & Gas Price Performance

NYSE MGY opened at $25.78 on Friday. The company has a 50 day simple moving average of $27.11 and a 200-day simple moving average of $27.43. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.10 and a quick ratio of 1.10. The firm has a market capitalization of $4.77 billion, a price-to-earnings ratio of 14.99 and a beta of 0.70. Magnolia Oil & Gas Corp has a 52-week low of $21.07 and a 52-week high of $32.76.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.54 EPS for the quarter, beating analysts' consensus estimates of $0.51 by $0.03. Magnolia Oil & Gas had a net margin of 24.40% and a return on equity of 16.28%. The firm had revenue of $358.51 million for the quarter, compared to the consensus estimate of $349.89 million. During the same period in the previous year, the firm posted $0.54 earnings per share. The firm's revenue was up 2.3% on a year-over-year basis. Equities research analysts predict that Magnolia Oil & Gas Corp will post 2.7 earnings per share for the current fiscal year.

Magnolia Oil & Gas Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Tuesday, May 12th were issued a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a dividend yield of 2.6%. The ex-dividend date was Tuesday, May 12th. Magnolia Oil & Gas's payout ratio is currently 38.37%.

Wall Street Analyst Weigh In

A number of analysts recently commented on MGY shares. UBS Group dropped their target price on shares of Magnolia Oil & Gas from $38.00 to $34.00 and set a "buy" rating on the stock in a report on Friday, July 10th. Weiss Ratings cut shares of Magnolia Oil & Gas from a "hold (c+)" rating to a "hold (c)" rating in a report on Thursday, May 21st. Citigroup decreased their price target on shares of Magnolia Oil & Gas from $35.00 to $32.00 and set a "neutral" rating on the stock in a research report on Monday, April 13th. Truist Financial dropped their price target on Magnolia Oil & Gas from $34.00 to $32.00 and set a "hold" rating on the stock in a report on Tuesday, July 7th. Finally, Susquehanna increased their price objective on Magnolia Oil & Gas from $35.00 to $36.00 and gave the company a "positive" rating in a research report on Tuesday. Eight research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Magnolia Oil & Gas presently has a consensus rating of "Hold" and a consensus price target of $31.42.

About Magnolia Oil & Gas

Magnolia Oil & Gas Corp NYSE: MGY is an independent exploration and production company focused on the acquisition, development and optimization of onshore oil and gas assets in South Texas. Headquartered in Houston, the company concentrates its efforts on the Eagle Ford Shale, where it holds significant working interests in key producing counties.

The company's core operations center on horizontal drilling and multi-stage completions designed to extract light crude oil, natural gas and natural gas liquids (NGLs).

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