Nordea Investment Management AB Decreases Stock Position in Magnolia Oil & Gas Corp $MGY

Key Points

• Nordea Investment Management AB trimmed its stake in Magnolia Oil & Gas by 15.4% in Q4, leaving it with 377,982 shares worth about $8.24 million (0.20% of the company).
• Significant insider selling occurred recently: Director Dan F. Smith sold 18,000 shares and EVP Timothy D. Yang sold 150,000 shares on March 9, and insiders have sold 338,954 shares (~$9.91M) over the past 90 days, leaving insiders with 1.20% ownership.
• Dividend and results: Magnolia raised its quarterly dividend to $0.165 (annualized $0.66, ~2.1% yield); Q4 EPS of $0.37 beat estimates slightly while revenue missed, and analysts hold a consensus "Hold" with an average price target of $29.27.

Nordea Investment Management AB lessened its stake in shares of Magnolia Oil & Gas Corp (NYSE:MGY - Free Report) by 15.4% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 377,982 shares of the company's stock after selling 68,680 shares during the period. Nordea Investment Management AB owned 0.20% of Magnolia Oil & Gas worth $8,238,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. CWA Asset Management Group LLC purchased a new position in shares of Magnolia Oil & Gas during the fourth quarter valued at about $632,000. GAMMA Investing LLC lifted its position in shares of Magnolia Oil & Gas by 8.0% in the fourth quarter. GAMMA Investing LLC now owns 6,130 shares of the company's stock worth $134,000 after buying an additional 453 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Magnolia Oil & Gas by 34.8% during the third quarter. JPMorgan Chase & Co. now owns 858,972 shares of the company's stock valued at $20,504,000 after buying an additional 221,920 shares during the last quarter. CIBC Bancorp USA Inc. bought a new position in Magnolia Oil & Gas during the third quarter valued at approximately $474,000. Finally, Coldstream Capital Management Inc. grew its holdings in Magnolia Oil & Gas by 3.1% during the 3rd quarter. Coldstream Capital Management Inc. now owns 15,937 shares of the company's stock valued at $380,000 after buying an additional 482 shares in the last quarter. Hedge funds and other institutional investors own 94.73% of the company's stock.

Magnolia Oil & Gas Trading Up 0.5%

Shares of NYSE MGY opened at $31.44 on Thursday. Magnolia Oil & Gas Corp has a 1-year low of $19.09 and a 1-year high of $31.66. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.54 and a quick ratio of 1.54. The business's 50 day moving average is $27.09 and its two-hundred day moving average is $24.39. The stock has a market capitalization of $5.86 billion, a P/E ratio of 18.28, a PEG ratio of 2.61 and a beta of 0.89.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last posted its quarterly earnings data on Thursday, February 5th. The company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.01. The business had revenue of $317.63 million during the quarter, compared to analyst estimates of $322.18 million. Magnolia Oil & Gas had a return on equity of 16.67% and a net margin of 24.79%.The company's revenue for the quarter was down 2.8% on a year-over-year basis. During the same period last year, the company earned $0.44 EPS. As a group, research analysts expect that Magnolia Oil & Gas Corp will post 2.1 EPS for the current year.

Magnolia Oil & Gas Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 2nd. Investors of record on Tuesday, February 10th were given a $0.165 dividend. This is a boost from Magnolia Oil & Gas's previous quarterly dividend of $0.15. This represents a $0.66 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date was Tuesday, February 10th. Magnolia Oil & Gas's dividend payout ratio is 38.37%.

Insider Buying and Selling

In other Magnolia Oil & Gas news, Director Dan F. Smith sold 18,000 shares of Magnolia Oil & Gas stock in a transaction on Monday, March 9th. The shares were sold at an average price of $29.01, for a total transaction of $522,180.00. Following the completion of the transaction, the director directly owned 119,204 shares of the company's stock, valued at $3,458,108.04. The trade was a 13.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Timothy D. Yang sold 150,000 shares of the business's stock in a transaction on Monday, March 9th. The shares were sold at an average price of $29.29, for a total transaction of $4,393,500.00. Following the transaction, the executive vice president owned 526,661 shares in the company, valued at $15,425,900.69. This trade represents a 22.17% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 338,954 shares of company stock valued at $9,911,733 over the last 90 days. 1.20% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts have issued reports on MGY shares. KeyCorp lifted their price objective on Magnolia Oil & Gas from $29.00 to $30.00 and gave the stock an "overweight" rating in a research note on Monday, February 9th. Weiss Ratings reiterated a "hold (c)" rating on shares of Magnolia Oil & Gas in a research report on Thursday, January 22nd. Susquehanna cut their target price on shares of Magnolia Oil & Gas from $30.00 to $28.00 and set a "positive" rating for the company in a report on Monday, January 26th. Benchmark restated a "hold" rating on shares of Magnolia Oil & Gas in a research report on Wednesday, January 21st. Finally, Zacks Research upgraded shares of Magnolia Oil & Gas from a "strong sell" rating to a "hold" rating in a research report on Wednesday, February 11th. Eight research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $29.27.

Magnolia Oil & Gas Profile

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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