Systematic Financial Management LP Has $75.52 Million Stock Position 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 decreased its position in shares of Magnolia Oil & Gas Corp (NYSE:MGY - Free Report) by 1.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,989,746 shares of the company's stock after selling 43,529 shares during the quarter. Magnolia Oil & Gas comprises approximately 2.2% of Systematic Financial Management LP's investment portfolio, making the stock its biggest holding. Systematic Financial Management LP owned about 1.54% of Magnolia Oil & Gas worth $75,521,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Smartleaf Asset Management LLC boosted its stake in Magnolia Oil & Gas by 34.3% during the 1st quarter. Smartleaf Asset Management LLC now owns 5,072 shares of the company's stock worth $128,000 after acquiring an additional 1,295 shares during the last quarter. Osterweis Capital Management Inc. boosted its stake in Magnolia Oil & Gas by 33.5% during the 1st quarter. Osterweis Capital Management Inc. now owns 641,637 shares of the company's stock worth $16,208,000 after acquiring an additional 161,125 shares during the last quarter. Hsbc Holdings PLC bought a new position in Magnolia Oil & Gas during the 1st quarter worth approximately $506,000. Quantbot Technologies LP boosted its stake in Magnolia Oil & Gas by 11.8% during the 1st quarter. Quantbot Technologies LP now owns 231,297 shares of the company's stock worth $5,843,000 after acquiring an additional 24,427 shares during the last quarter. Finally, Algert Global LLC bought a new position in Magnolia Oil & Gas during the 1st quarter worth approximately $1,549,000. Institutional investors own 94.73% of the company's stock.

Magnolia Oil & Gas Stock Up 2.5%

Shares of NYSE MGY traded up $0.61 during midday trading on Wednesday, reaching $24.75. The company's stock had a trading volume of 2,246,814 shares, compared to its average volume of 2,641,825. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.20. 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 $4.72 billion, a price-to-earnings ratio of 12.96, a PEG ratio of 3.16 and a beta of 1.31. The stock has a 50 day simple moving average of $23.52 and a 200-day simple moving average of $22.96.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last posted its quarterly earnings data 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. 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 for the quarter, compared to the consensus estimate of $311.58 million. During the same period last year, the company earned $0.51 earnings per share. The firm's revenue was down 5.3% compared to the same quarter last year. Equities research analysts predict that Magnolia Oil & Gas Corp will post 2.1 earnings per share for the current year.

Magnolia Oil & Gas Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Monday, August 11th will be issued a $0.15 dividend. 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 dividend payout ratio (DPR) is 31.41%.

Wall Street Analyst Weigh In

Several brokerages have commented on MGY. UBS Group restated a "buy" rating and set a $29.00 target price (up from $26.00) on shares of Magnolia Oil & Gas in a report on Friday, June 13th. Bank of America raised their target price on shares of Magnolia Oil & Gas from $23.00 to $25.00 and gave the stock a "neutral" rating in a report on Friday, May 23rd. Piper Sandler raised their target price on shares of Magnolia Oil & Gas from $24.00 to $25.00 and gave the stock a "neutral" rating in a report on Thursday, July 17th. William Blair began coverage on shares of Magnolia Oil & Gas in a report on Monday. They set an "outperform" rating on the stock. Finally, Citigroup restated a "sell" rating on shares of Magnolia Oil & Gas in a report on Thursday, July 10th. Four analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $26.67.

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.