Magnolia Oil & Gas Corp (NYSE:MGY) Holdings Lowered by Allianz Asset Management GmbH

Key Points

• Allianz Asset Management GmbH reduced its stake in Magnolia Oil & Gas Corp by 55.8%, selling 16,300 shares and retaining 12,900 shares valued at approximately $326,000.
• Magnolia Oil & Gas recently reported a quarterly EPS of $0.43, surpassing analysts' expectations, although its revenue showed a 5.3% decline year-over-year.
• The company announced a quarterly dividend of $0.15 per share, reiterating a 2.6% yield, with a payout ratio of 31.41%.

Allianz Asset Management GmbH lessened its stake in Magnolia Oil & Gas Corp (NYSE:MGY - Free Report) by 55.8% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,900 shares of the company's stock after selling 16,300 shares during the quarter. Allianz Asset Management GmbH's holdings in Magnolia Oil & Gas were worth $326,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in MGY. Gallacher Capital Management LLC acquired a new stake in Magnolia Oil & Gas during the first quarter valued at approximately $549,000. IFP Advisors Inc grew its position in Magnolia Oil & Gas by 13.5% in the 1st quarter. IFP Advisors Inc now owns 12,930 shares of the company's stock worth $328,000 after purchasing an additional 1,540 shares during the last quarter. Jackson Creek Investment Advisors LLC acquired a new stake in shares of Magnolia Oil & Gas during the 1st quarter worth about $1,574,000. Bailard Inc. acquired a new stake in Magnolia Oil & Gas in the 1st quarter valued at about $215,000. Finally, Xponance Inc. boosted its stake in shares of Magnolia Oil & Gas by 6.1% in the 1st quarter. Xponance Inc. now owns 13,051 shares of the company's stock valued at $330,000 after purchasing an additional 752 shares during the last quarter. Institutional investors and hedge funds own 94.73% of the company's stock.

Magnolia Oil & Gas Trading Down 0.8%

MGY stock traded down $0.19 during mid-day trading on Thursday, hitting $23.52. 1,289,318 shares of the company were exchanged, compared to its average volume of 2,705,325. The business has a fifty day simple moving average of $23.34 and a 200-day simple moving average of $23.08. 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 firm has a market capitalization of $4.53 billion, a P/E ratio of 12.33, a PEG ratio of 3.12 and a beta of 1.31.

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 the consensus estimate of $0.40 by $0.03. The business had revenue of $318.98 million for the quarter, compared to analyst estimates of $311.58 million. Magnolia Oil & Gas had a return on equity of 19.34% and a net margin of 27.57%. The business's quarterly revenue was down 5.3% on a year-over-year basis. During the same quarter last year, the company earned $0.51 EPS. On average, equities research analysts predict that Magnolia Oil & Gas Corp will post 2.1 earnings per share for the current fiscal year.

Magnolia Oil & Gas Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Monday, August 11th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 2.6%. The ex-dividend date is Monday, August 11th. Magnolia Oil & Gas's dividend payout ratio is presently 31.41%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. 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 report on Monday, June 16th. Citigroup reaffirmed a "sell" rating on shares of Magnolia Oil & Gas in a research report on Thursday, July 10th. Bank of America raised their price objective on Magnolia Oil & Gas from $23.00 to $25.00 and gave the company a "neutral" rating in a research note on Friday, May 23rd. Susquehanna lowered their price objective on Magnolia Oil & Gas from $31.00 to $30.00 and set a "positive" rating on the stock in a research note on Tuesday, April 22nd. Finally, Piper Sandler lifted their target price on Magnolia Oil & Gas from $24.00 to $25.00 and gave the company a "neutral" rating in a report on Thursday, July 17th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $26.67.

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.