UBS Group AG Decreases Position in Magnolia Oil & Gas Corp $MGY

Key Points

• UBS Group AG cut its stake in Magnolia Oil & Gas by 49.8% in the fourth quarter, selling 868,663 shares and leaving it with 874,758 shares valued at about $19.1 million.
• Magnolia Oil & Gas beat earnings and revenue estimates in its latest quarterly report, posting EPS of $0.54 versus $0.51 expected and revenue of $358.5 million versus $349.9 million expected.
• The company continues to pay a dividend and has mixed Wall Street sentiment, with a quarterly dividend of $0.165 per share and a consensus analyst rating of “Moderate Buy” with a target price of $31.08.

UBS Group AG lowered its position in Magnolia Oil & Gas Corp (NYSE:MGY - Free Report) by 49.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 874,758 shares of the company's stock after selling 868,663 shares during the quarter. UBS Group AG owned 0.46% of Magnolia Oil & Gas worth $19,148,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Salomon & Ludwin LLC grew its stake in Magnolia Oil & Gas by 130.1% in the 4th quarter. Salomon & Ludwin LLC now owns 1,344 shares of the company's stock valued at $29,000 after acquiring an additional 760 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in Magnolia Oil & Gas by 165.5% during the second 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. First Horizon Corp lifted its holdings in shares of Magnolia Oil & Gas by 159.8% in the fourth quarter. First Horizon Corp now owns 1,889 shares of the company's stock valued at $41,000 after purchasing an additional 1,162 shares in the last quarter. Geneos Wealth Management Inc. grew its position in shares of Magnolia Oil & Gas by 90.5% in the second quarter. Geneos Wealth Management Inc. now owns 2,212 shares of the company's stock valued at $50,000 after purchasing an additional 1,051 shares during the last quarter. Finally, Exchange Traded Concepts LLC acquired a new stake in shares of Magnolia Oil & Gas in the fourth quarter valued at approximately $54,000. Institutional investors and hedge funds own 94.73% of the company's stock.

Wall Street Analysts Forecast Growth

MGY has been the topic of several recent research reports. Weiss Ratings upgraded Magnolia Oil & Gas from a "hold (c)" rating to a "hold (c+)" rating in a research report on Wednesday, April 29th. Citigroup cut their price target on Magnolia Oil & Gas from $35.00 to $32.00 and set a "neutral" rating for the company in a report on Monday, April 13th. The Goldman Sachs Group raised their price objective on Magnolia Oil & Gas from $23.00 to $26.00 and gave the stock a "neutral" rating in a report on Wednesday, February 11th. Truist Financial lifted their price objective on Magnolia Oil & Gas from $33.00 to $34.00 and gave the company a "hold" rating in a research report on Monday, April 27th. Finally, Susquehanna dropped their target price on Magnolia Oil & Gas from $30.00 to $28.00 and set a "positive" rating for the company in a research note on Monday, January 26th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and nine have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $31.08.

Magnolia Oil & Gas Stock Performance

NYSE:MGY opened at $28.23 on Tuesday. The company has a market cap of $5.26 billion, a P/E ratio of 16.41, a P/E/G ratio of 1.71 and a beta of 0.75. The firm's 50 day moving average is $29.69 and its two-hundred day moving average is $25.70. Magnolia Oil & Gas Corp has a fifty-two week low of $21.07 and a fifty-two week high of $32.76. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.19.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last issued its earnings results on Wednesday, May 6th. The company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.03. The business had revenue of $358.51 million for the quarter, compared to analyst estimates of $349.89 million. Magnolia Oil & Gas had a return on equity of 16.28% and a net margin of 24.40%.The business's quarterly revenue was up 2.3% on a year-over-year basis. During the same period last year, the company posted $0.54 EPS. Analysts expect that Magnolia Oil & Gas Corp will post 2.82 EPS for the current year.

Magnolia Oil & Gas Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Tuesday, May 12th will be paid a $0.165 dividend. The ex-dividend date is Tuesday, May 12th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 2.3%. Magnolia Oil & Gas's dividend payout ratio (DPR) is 38.37%.

Insider Buying and Selling at Magnolia Oil & Gas

In related news, CEO Christopher G. Stavros sold 119,954 shares of the firm's stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $29.29, for a total transaction of $3,513,452.66. Following the sale, the chief executive officer directly owned 883,592 shares in the company, valued at approximately $25,880,409.68. This trade represents a 11.95% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Brian Corales sold 33,000 shares of the company's stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $29.12, for a total value of $960,960.00. Following the completion of the transaction, the chief financial officer owned 184,178 shares of the company's stock, valued at approximately $5,363,263.36. This represents a 15.19% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 338,954 shares of company stock worth $9,911,733. Insiders own 0.92% of the company's stock.

Magnolia Oil & Gas 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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