Teza Capital Management LLC Reduces Holdings in Magnolia Oil & Gas Corp $MGY

Key Points

• Teza Capital Management LLC reduced its stake in Magnolia Oil & Gas Corp by 50.4%, now holding 37,136 shares valued at approximately $938,000.
• Magnolia Oil & Gas reported $0.43 earnings per share for the last quarter, exceeding expectations by $0.03, despite a 5.3% decrease in revenue compared to the previous year.
• The stock has a consensus rating of "Hold" with a target price averaging $26.67, following recent upgrades and downgrades from various analysts.

Teza Capital Management LLC lowered its stake in shares of Magnolia Oil & Gas Corp (NYSE:MGY - Free Report) by 50.4% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 37,136 shares of the company's stock after selling 37,774 shares during the period. Teza Capital Management LLC's holdings in Magnolia Oil & Gas were worth $938,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State of Wyoming lifted its stake in Magnolia Oil & Gas by 8.2% during the first quarter. State of Wyoming now owns 5,777 shares of the company's stock worth $146,000 after purchasing an additional 440 shares in the last quarter. Farther Finance Advisors LLC lifted its stake in Magnolia Oil & Gas by 16.8% during the 1st quarter. Farther Finance Advisors LLC now owns 4,366 shares of the company's stock worth $111,000 after acquiring an additional 629 shares in the last quarter. BOKF NA grew its position in Magnolia Oil & Gas by 3.9% in the 4th quarter. BOKF NA now owns 19,014 shares of the company's stock valued at $473,000 after acquiring an additional 713 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in Magnolia Oil & Gas by 4.8% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 15,470 shares of the company's stock worth $391,000 after purchasing an additional 715 shares during the period. Finally, HighTower Advisors LLC lifted its position in shares of Magnolia Oil & Gas by 4.9% during the first quarter. HighTower Advisors LLC now owns 15,852 shares of the company's stock worth $400,000 after purchasing an additional 746 shares in the last quarter. Hedge funds and other institutional investors own 94.73% of the company's stock.

Analysts Set New Price Targets

MGY has been the topic of several recent research reports. William Blair assumed coverage on shares of Magnolia Oil & Gas in a research note on Monday, August 25th. They set an "outperform" rating on the stock. Citigroup restated a "sell" rating on shares of Magnolia Oil & Gas in a research note on Thursday, July 10th. Bank of America increased their price objective on Magnolia Oil & Gas from $23.00 to $25.00 and gave the company a "neutral" rating in a research note on Friday, May 23rd. Wells Fargo & Company decreased their target price on Magnolia Oil & Gas from $22.00 to $21.00 and set an "underweight" rating for the company in a report on Monday, June 16th. Finally, UBS Group restated a "buy" rating and set a $29.00 price target (up previously from $26.00) on shares of Magnolia Oil & Gas in a report on Friday, June 13th. Four equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Magnolia Oil & Gas currently has an average rating of "Hold" and a consensus target price of $26.67.

Magnolia Oil & Gas Stock Down 0.8%

Shares of MGY stock traded down $0.21 on Friday, reaching $23.93. 550,172 shares of the stock were exchanged, compared to its average volume of 2,610,157. The company has a market capitalization of $4.57 billion, a price-to-earnings ratio of 12.52, a PEG ratio of 3.20 and a beta of 1.33. The business's 50 day moving average price is $23.77 and its 200 day moving average price is $23.02. 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 twelve month low of $19.09 and a twelve month high of $29.02.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.43 earnings per share for the quarter, beating analysts' consensus estimates of $0.40 by $0.03. The company had revenue of $318.98 million for the quarter, compared to analysts' expectations of $311.58 million. Magnolia Oil & Gas had a return on equity of 19.34% and a net margin of 27.57%.Magnolia Oil & Gas's quarterly revenue was down 5.3% on a year-over-year basis. During the same period last year, the firm earned $0.51 earnings per share. As a group, sell-side analysts expect that Magnolia Oil & Gas Corp will post 2.1 earnings per share for the current fiscal year.

Magnolia Oil & Gas Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 11th were paid a dividend of $0.15 per share. The ex-dividend date was Monday, August 11th. This represents a $0.60 annualized dividend and a yield of 2.5%. Magnolia Oil & Gas's payout ratio is presently 31.41%.

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.