Systematic Financial Management LP Has $68.84 Million Holdings in Magnolia Oil & Gas Co. (NYSE:MGY)

Systematic Financial Management LP trimmed its holdings in shares of Magnolia Oil & Gas Co. (NYSE:MGY) by 5.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,716,504 shares of the company’s stock after selling 151,185 shares during the period. Magnolia Oil & Gas comprises about 2.1% of Systematic Financial Management LP’s portfolio, making the stock its 2nd largest position. Systematic Financial Management LP owned approximately 1.36% of Magnolia Oil & Gas worth $68,836,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the business. Principal Financial Group Inc. boosted its position in Magnolia Oil & Gas by 25.1% during the 4th quarter. Principal Financial Group Inc. now owns 64,881 shares of the company’s stock valued at $1,381,000 after acquiring an additional 13,025 shares in the last quarter. Trexquant Investment LP boosted its position in Magnolia Oil & Gas by 80.0% during the fourth quarter. Trexquant Investment LP now owns 34,840 shares of the company’s stock valued at $742,000 after purchasing an additional 15,480 shares in the last quarter. TFO Wealth Partners LLC grew its stake in Magnolia Oil & Gas by 248,083.3% in the fourth quarter. TFO Wealth Partners LLC now owns 14,891 shares of the company’s stock valued at $317,000 after purchasing an additional 14,885 shares during the last quarter. Rafferty Asset Management LLC raised its holdings in Magnolia Oil & Gas by 4.2% in the fourth quarter. Rafferty Asset Management LLC now owns 272,737 shares of the company’s stock worth $5,807,000 after purchasing an additional 10,930 shares in the last quarter. Finally, First Trust Advisors LP lifted its position in shares of Magnolia Oil & Gas by 20.2% during the fourth quarter. First Trust Advisors LP now owns 10,126,891 shares of the company’s stock valued at $215,602,000 after buying an additional 1,704,982 shares during the last quarter. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Insiders Place Their Bets

In related news, Director Ltd. Enervest sold 7,000,000 shares of Magnolia Oil & Gas stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $25.86, for a total value of $181,020,000.00. Following the completion of the transaction, the director now owns 2,099,403 shares in the company, valued at approximately $54,290,561.58. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 1.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Bank of America lifted their price objective on shares of Magnolia Oil & Gas from $28.00 to $29.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Truist Financial upped their price target on Magnolia Oil & Gas from $34.00 to $35.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Capital One Financial started coverage on Magnolia Oil & Gas in a research report on Tuesday, June 11th. They issued an “overweight” rating and a $28.00 price objective for the company. Mizuho reduced their target price on Magnolia Oil & Gas from $28.00 to $27.00 and set a “neutral” rating on the stock in a research report on Monday, September 16th. Finally, Wells Fargo & Company lowered their price target on Magnolia Oil & Gas from $27.00 to $26.00 and set an “equal weight” rating for the company in a report on Monday, August 5th. One research analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $28.00.

Magnolia Oil & Gas Trading Up 2.4 %

Shares of Magnolia Oil & Gas stock opened at $24.27 on Friday. The stock has a market cap of $4.83 billion, a PE ratio of 12.07, a price-to-earnings-growth ratio of 1.27 and a beta of 2.00. The firm has a fifty day moving average price of $24.94 and a 200 day moving average price of $25.30. Magnolia Oil & Gas Co. has a 1 year low of $19.16 and a 1 year high of $27.63. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.28 and a quick ratio of 1.28.

Magnolia Oil & Gas (NYSE:MGY) last issued its earnings results on Wednesday, July 31st. The company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.05. Magnolia Oil & Gas had a return on equity of 21.18% and a net margin of 29.44%. The firm had revenue of $336.73 million for the quarter, compared to the consensus estimate of $340.72 million. Equities research analysts predict that Magnolia Oil & Gas Co. will post 2.04 earnings per share for the current year.

Magnolia Oil & Gas Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were issued a $0.13 dividend. The ex-dividend date was Friday, August 9th. This represents a $0.52 dividend on an annualized basis and a yield of 2.14%. Magnolia Oil & Gas’s payout ratio is 25.87%.

Magnolia Oil & Gas Company Profile

Magnolia Oil & Gas Corporation, an independent oil and natural gas company, engages in the acquisition, development, exploration, and production of oil, natural gas, and natural gas liquids reserves in the United States. Its properties are located primarily in Karnes County and the Giddings area in South Texas principally comprising the Eagle Ford Shale and the Austin Chalk formation.