Strs Ohio Has $2.01 Million Stake in Magnolia Oil & Gas Corp $MGY

Key Points

• Strs Ohio cut its stake in Magnolia Oil & Gas (NYSE:MGY) by 39.6%, selling 60,200 shares and retaining 91,900 shares valued at $2.01 million at quarter end.
• Company insiders have been significant net sellers—EVP Timothy Yang sold 150,000 shares and CFO Brian Corales sold 33,000, with a total of 338,954 shares worth $9.91 million sold in the last 90 days; insiders now own 0.92% of the stock.
• Magnolia has a market cap of about $5.76 billion and a P/E near 18, and it declared a quarterly dividend of $0.165 (annualized yield ~2.1%) payable June 1 with an ex-dividend date of May 12.

Strs Ohio lessened its position in Magnolia Oil & Gas Corp (NYSE:MGY - Free Report) by 39.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 91,900 shares of the company's stock after selling 60,200 shares during the period. Strs Ohio's holdings in Magnolia Oil & Gas were worth $2,012,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Salomon & Ludwin LLC grew its holdings in shares of Magnolia Oil & Gas by 130.1% during the fourth quarter. Salomon & Ludwin LLC now owns 1,344 shares of the company's stock worth $29,000 after purchasing an additional 760 shares during the last quarter. Mather Group LLC. acquired a new stake in Magnolia Oil & Gas during the 3rd quarter worth approximately $31,000. EverSource Wealth Advisors LLC grew its holdings in Magnolia Oil & Gas by 165.5% during the 2nd 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 last quarter. Torren Management LLC bought a new stake in Magnolia Oil & Gas during the 4th quarter worth approximately $38,000. Finally, First Horizon Corp increased its position in Magnolia Oil & Gas by 159.8% in the 4th quarter. First Horizon Corp now owns 1,889 shares of the company's stock valued at $41,000 after acquiring an additional 1,162 shares during the period. 94.73% of the stock is currently owned by institutional investors.

Magnolia Oil & Gas Stock Performance

Shares of Magnolia Oil & Gas stock opened at $30.88 on Wednesday. The business has a 50-day simple moving average of $29.61 and a 200 day simple moving average of $25.54. Magnolia Oil & Gas Corp has a one year low of $20.45 and a one year high of $32.76. 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 firm has a market capitalization of $5.76 billion, a price-to-earnings ratio of 17.96, a PEG ratio of 1.94 and a beta of 0.75.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last announced its quarterly earnings results on Thursday, February 5th. The company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.01. The business had revenue of $317.63 million for 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 quarterly revenue was down 2.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.44 earnings per share. On average, research analysts anticipate that Magnolia Oil & Gas Corp will post 2.8 earnings per share for the current fiscal year.

Magnolia Oil & Gas Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Tuesday, May 12th will be given a $0.165 dividend. The ex-dividend date of this dividend is Tuesday, May 12th. This represents a $0.66 annualized dividend and a yield of 2.1%. Magnolia Oil & Gas's dividend payout ratio (DPR) is presently 38.37%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Citigroup cut 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 report on Monday, April 13th. KeyCorp increased their price objective on Magnolia Oil & Gas from $30.00 to $38.00 and gave the company an "overweight" rating in a report on Thursday, April 2nd. Siebert Williams Shank downgraded Magnolia Oil & Gas from a "buy" rating to a "hold" rating in a report on Friday, March 6th. BMO Capital Markets started coverage on Magnolia Oil & Gas in a research report on Friday, January 9th. They issued an "outperform" rating and a $27.00 price target on the stock. Finally, Weiss Ratings raised Magnolia Oil & Gas from a "hold (c)" rating to a "hold (c+)" rating in a research note on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, Magnolia Oil & Gas presently has an average rating of "Moderate Buy" and an average price target of $31.08.

Insider Buying and Selling at Magnolia Oil & Gas

In other news, EVP Timothy D. Yang sold 150,000 shares of Magnolia Oil & Gas stock in a transaction dated 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 completion of the transaction, the executive vice president directly owned 526,661 shares in the company, valued at $15,425,900.69. This trade represents a 22.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Brian Corales sold 33,000 shares of the business's stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $29.12, for a total transaction of $960,960.00. Following the sale, the chief financial officer directly owned 184,178 shares of the company's stock, valued at approximately $5,363,263.36. The trade was a 15.19% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 338,954 shares of company stock worth $9,911,733 in the last ninety days. 0.92% of the stock is currently owned by corporate insiders.

Magnolia Oil & Gas Company 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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