Systematic Financial Management LP Decreases Stake in Magnolia Oil & Gas Corp $MGY

Key Points

• Systematic Financial Management LP reduced its stake in Magnolia Oil & Gas Corp by 1.4%, holding approximately $75.52 million worth of shares, which represents 2.2% of its investment portfolio.
• Magnolia Oil & Gas announced a quarterly dividend of $0.15 per share, which corresponds to an annualized payout of $0.60 and a dividend yield of 2.5%.
• Various analysts have mixed ratings on Magnolia Oil & Gas, with a consensus average rating of "Hold" and an average target price of $26.67.

Systematic Financial Management LP cut its stake in Magnolia Oil & Gas Corp (NYSE:MGY - Free Report) by 1.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,989,746 shares of the company's stock after selling 43,529 shares during the quarter. Magnolia Oil & Gas comprises about 2.2% of Systematic Financial Management LP's investment portfolio, making the stock its biggest position. Systematic Financial Management LP owned 1.54% of Magnolia Oil & Gas worth $75,521,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also made changes to their positions in the company. Mariner LLC boosted its holdings in Magnolia Oil & Gas by 1.8% in the fourth quarter. Mariner LLC now owns 43,229 shares of the company's stock worth $1,011,000 after purchasing an additional 762 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Magnolia Oil & Gas by 1.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,768,047 shares of the company's stock worth $111,475,000 after purchasing an additional 86,166 shares during the period. MetLife Investment Management LLC boosted its holdings in Magnolia Oil & Gas by 5.7% in the fourth quarter. MetLife Investment Management LLC now owns 105,622 shares of the company's stock worth $2,469,000 after purchasing an additional 5,736 shares during the period. OneDigital Investment Advisors LLC boosted its holdings in Magnolia Oil & Gas by 3.0% in the fourth quarter. OneDigital Investment Advisors LLC now owns 15,768 shares of the company's stock worth $369,000 after purchasing an additional 464 shares during the period. Finally, Susquehanna International Group LLP boosted its holdings in 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 purchasing an additional 69,995 shares during the period. Institutional investors and hedge funds own 94.73% of the company's stock.

Analysts Set New Price Targets

A number of research firms have issued reports on MGY. Citigroup reiterated a "sell" rating on shares of Magnolia Oil & Gas in a research note on Thursday, July 10th. Wells Fargo & Company cut 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 research note on Monday, June 16th. Bank of America boosted their price target on shares of Magnolia Oil & Gas from $23.00 to $25.00 and gave the stock a "neutral" rating in a research report on Friday, May 23rd. Piper Sandler boosted their price target on shares of Magnolia Oil & Gas from $24.00 to $25.00 and gave the stock a "neutral" rating in a research report on Thursday, July 17th. Finally, William Blair started coverage on shares of Magnolia Oil & Gas in a research report on Monday. They issued an "outperform" rating on the stock. Four equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Magnolia Oil & Gas has an average rating of "Hold" and a consensus target price of $26.67.

Magnolia Oil & Gas Stock Performance

Shares of MGY stock traded up $0.13 during trading hours on Thursday, reaching $24.87. 729,273 shares of the company's stock were exchanged, compared to its average volume of 2,629,835. Magnolia Oil & Gas Corp has a fifty-two week low of $19.09 and a fifty-two week high of $29.02. The stock has a market capitalization of $4.74 billion, a P/E ratio of 13.03, a P/E/G ratio of 3.16 and a beta of 1.31. The business has a fifty day moving average price of $23.53 and a 200-day moving average price of $22.98. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.20.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $0.43 EPS for the quarter, topping analysts' consensus estimates of $0.40 by $0.03. Magnolia Oil & Gas had a return on equity of 19.34% and a net margin of 27.57%.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 previous year, the company earned $0.51 earnings per share. The company's quarterly revenue was down 5.3% compared to the same quarter last year. Analysts predict that Magnolia Oil & Gas Corp will post 2.1 EPS for the current fiscal year.

Magnolia Oil & Gas Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Monday, August 11th will be issued a dividend of $0.15 per share. The ex-dividend date is Monday, August 11th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.4%. Magnolia Oil & Gas's payout ratio is 31.41%.

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.