Magnolia Oil & Gas Corp $MGY Shares Sold by PDT Partners LLC

Key Points

• PDT Partners LLC has reduced its holdings in Magnolia Oil & Gas Corp by 43.6% during the first quarter, now owning 77,442 shares valued at approximately $1.96 million.
• The company reported a quarterly EPS of $0.43, surpassing analyst expectations, but its revenue was down 5.3% year-over-year.
• Magnolia Oil & Gas declared a quarterly dividend of $0.15 per share, which results in an annualized dividend yield of 2.4%.

PDT Partners LLC trimmed its stake in Magnolia Oil & Gas Corp (NYSE:MGY - Free Report) by 43.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 77,442 shares of the company's stock after selling 59,960 shares during the period. PDT Partners LLC's holdings in Magnolia Oil & Gas were worth $1,956,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Susquehanna International Group LLP raised 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 worth $3,519,000 after acquiring an additional 69,995 shares during the last quarter. Voya Investment Management LLC boosted its holdings 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 buying an additional 1,019 shares during the period. Northern Trust Corp boosted its holdings 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 valued at $45,273,000 after buying an additional 131,941 shares during the period. Lido Advisors LLC acquired a new position in shares of Magnolia Oil & Gas in the fourth quarter valued at approximately $227,000. Finally, BNP Paribas Financial Markets boosted its holdings in shares of Magnolia Oil & Gas by 2.2% in the fourth quarter. BNP Paribas Financial Markets now owns 131,291 shares of the company's stock valued at $3,070,000 after buying an additional 2,799 shares during the period. 94.73% of the stock is owned by institutional investors.

Magnolia Oil & Gas Stock Performance

NYSE MGY traded down $0.10 during trading hours on Monday, hitting $23.53. The company's stock had a trading volume of 358,116 shares, compared to its average volume of 2,621,380. The company's 50 day simple moving average is $23.70 and its two-hundred day simple moving average is $23.01. The company has a market cap of $4.49 billion, a P/E ratio of 12.32, a price-to-earnings-growth ratio of 3.11 and a beta of 1.33. Magnolia Oil & Gas Corp has a 12 month low of $19.09 and a 12 month high of $29.02. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.44 and a quick ratio of 1.44.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported $0.43 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.40 by $0.03. The business had revenue of $318.98 million during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the previous year, the company posted $0.51 EPS. As a group, sell-side analysts expect that Magnolia Oil & Gas Corp will post 2.1 EPS for the current fiscal year.

Magnolia Oil & Gas Dividend Announcement

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

Wall Street Analyst Weigh In

A number of analysts have commented on MGY shares. Bank of America increased their price target 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. William Blair began coverage on shares of Magnolia Oil & Gas in a report on Monday, August 25th. They set an "outperform" rating on the stock. UBS Group reiterated a "buy" rating and set a $29.00 target price (up previously from $26.00) on shares of Magnolia Oil & Gas in a research report on Friday, June 13th. Citigroup restated a "sell" rating on shares of Magnolia Oil & Gas in a report on Thursday, July 10th. Finally, Piper Sandler increased their price target on shares of Magnolia Oil & Gas from $24.00 to $25.00 and gave the company a "neutral" rating in a research report on Thursday, July 17th. Four investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, Magnolia Oil & Gas has an average rating of "Hold" and a consensus price target of $26.67.

About Magnolia Oil & Gas

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.