Magnolia Oil & Gas Corp $MGY Shares Sold by Teza Capital Management LLC

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

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. American Century Companies Inc. increased its position in shares of Magnolia Oil & Gas by 5.7% during the first quarter. American Century Companies Inc. now owns 10,502,353 shares of the company's stock valued at $265,289,000 after acquiring an additional 562,223 shares in the last quarter. Janus Henderson Group PLC lifted its position in shares of Magnolia Oil & Gas by 11.7% during the 4th quarter. Janus Henderson Group PLC now owns 6,396,875 shares of the company's stock valued at $149,559,000 after buying an additional 667,973 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Magnolia Oil & Gas by 12.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 5,365,892 shares of the company's stock worth $135,541,000 after purchasing an additional 597,845 shares in the last quarter. Boston Trust Walden Corp lifted its holdings in Magnolia Oil & Gas by 2.8% in the 1st quarter. Boston Trust Walden Corp now owns 3,178,608 shares of the company's stock worth $80,292,000 after purchasing an additional 88,021 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in Magnolia Oil & Gas by 3.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,175,387 shares of the company's stock worth $81,004,000 after purchasing an additional 110,961 shares in the last quarter. Hedge funds and other institutional investors own 94.73% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on MGY shares. UBS Group reaffirmed a "buy" rating and set a $29.00 price objective (up from $26.00) on shares of Magnolia Oil & Gas in a report on Friday, June 13th. Citigroup reaffirmed a "sell" rating on shares of Magnolia Oil & Gas in a report on Thursday, July 10th. Bank of America upped their price objective on Magnolia Oil & Gas from $23.00 to $25.00 and gave the stock a "neutral" rating in a report on Friday, May 23rd. William Blair initiated coverage on Magnolia Oil & Gas in a research note on Monday, August 25th. They issued an "outperform" rating for the company. Finally, Piper Sandler raised their price objective on Magnolia Oil & Gas from $24.00 to $25.00 and gave the company a "neutral" rating in a report on Thursday, July 17th. Four 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 company. According to data from MarketBeat.com, Magnolia Oil & Gas currently has an average rating of "Hold" and a consensus price target of $26.67.

Magnolia Oil & Gas Trading Down 0.5%

Shares of MGY stock traded down $0.11 on Tuesday, hitting $23.33. The stock had a trading volume of 1,585,677 shares, compared to its average volume of 1,963,034. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.44 and a quick ratio of 1.44. The firm has a market capitalization of $4.45 billion, a P/E ratio of 12.21, a P/E/G ratio of 3.09 and a beta of 1.33. Magnolia Oil & Gas Corp has a 1 year low of $19.09 and a 1 year high of $29.02. The company's 50 day moving average price is $23.73 and its 200-day moving average price is $23.01.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $0.43 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $311.58 million. During the same quarter in the prior year, the business earned $0.51 EPS. Magnolia Oil & Gas's revenue was down 5.3% on a year-over-year basis. Analysts anticipate that Magnolia Oil & Gas Corp will post 2.1 earnings per share for the current year.

Magnolia Oil & Gas Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 11th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend was Monday, August 11th. Magnolia Oil & Gas's dividend payout ratio is currently 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.