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

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Mariner LLC raised its holdings in shares of Magnolia Oil & Gas by 1.8% during the fourth quarter. Mariner LLC now owns 43,229 shares of the company's stock valued at $1,011,000 after buying an additional 762 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in Magnolia Oil & Gas by 4.8% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 15,470 shares of the company's stock valued at $391,000 after acquiring an additional 715 shares in the last quarter. Foster Victor Wealth Advisors LLC boosted its position in Magnolia Oil & Gas by 7.1% during the 1st quarter. Foster Victor Wealth Advisors LLC now owns 336,917 shares of the company's stock worth $8,511,000 after acquiring an additional 22,402 shares during the period. GF Fund Management CO. LTD. acquired a new position in Magnolia Oil & Gas during the 4th quarter worth $1,370,000. Finally, Northern Trust Corp grew its stake in shares of Magnolia Oil & Gas by 7.3% in the fourth quarter. Northern Trust Corp now owns 1,936,398 shares of the company's stock worth $45,273,000 after purchasing an additional 131,941 shares in the last quarter. Institutional investors own 94.73% of the company's stock.

Magnolia Oil & Gas Stock Down 1.7%

Shares of Magnolia Oil & Gas stock opened at $23.42 on Monday. Magnolia Oil & Gas Corp has a 12-month low of $19.09 and a 12-month high of $29.02. The firm has a market capitalization of $4.51 billion, a PE ratio of 12.26, a price-to-earnings-growth ratio of 3.06 and a beta of 1.31. 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 stock's fifty day moving average is $23.22 and its 200-day moving average is $23.09.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $0.43 EPS for the quarter, beating analysts' consensus estimates of $0.40 by $0.03. Magnolia Oil & Gas had a net margin of 27.57% and a return on equity of 19.34%. The company 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 earned $0.51 earnings per share. The business's quarterly revenue was down 5.3% on a year-over-year basis. Equities analysts anticipate that Magnolia Oil & Gas Corp will post 2.1 earnings per share for the current year.

Magnolia Oil & Gas Announces Dividend

The company also recently announced 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. This represents a $0.60 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend is Monday, August 11th. Magnolia Oil & Gas's payout ratio is 31.41%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on MGY shares. Bank of America lifted 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. Citigroup restated a "sell" rating on shares of Magnolia Oil & Gas in a research report on Thursday, July 10th. Piper Sandler increased their price objective on shares of Magnolia Oil & Gas from $24.00 to $25.00 and gave the company a "neutral" rating in a report on Thursday, July 17th. Susquehanna lowered their price objective on shares of 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, UBS Group reaffirmed a "buy" rating and set a $29.00 price target (up from $26.00) on shares of Magnolia Oil & Gas in a research note on Friday, June 13th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $26.67.

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.

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