Corient Private Wealth LLC Decreases Stock Holdings in Magnolia Oil & Gas Corp $MGY

Corient Private Wealth LLC decreased its stake in shares of Magnolia Oil & Gas Corp (NYSE:MGY) by 48.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 41,506 shares of the company’s stock after selling 38,903 shares during the period. Corient Private Wealth LLC’s holdings in Magnolia Oil & Gas were worth $933,000 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. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Magnolia Oil & Gas by 236.2% during the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,190 shares of the company’s stock valued at $27,000 after buying an additional 836 shares during the period. Caitong International Asset Management Co. Ltd purchased a new stake in Magnolia Oil & Gas during the second quarter valued at $30,000. EverSource Wealth Advisors LLC increased 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 valued at $31,000 after acquiring an additional 864 shares during the last quarter. Geneos Wealth Management Inc. lifted its holdings in 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 acquiring an additional 1,051 shares during the period. Finally, Osaic Holdings Inc. boosted its position in Magnolia Oil & Gas by 160.0% in the second quarter. Osaic Holdings Inc. now owns 4,363 shares of the company’s stock worth $100,000 after purchasing an additional 2,685 shares during the last quarter. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Magnolia Oil & Gas Trading Down 0.4%

Magnolia Oil & Gas stock opened at $21.71 on Friday. Magnolia Oil & Gas Corp has a 12-month low of $19.09 and a 12-month high of $26.84. The firm has a market capitalization of $4.10 billion, a price-to-earnings ratio of 12.13, a P/E/G ratio of 2.94 and a beta of 0.93. The firm has a 50 day moving average of $22.60 and a 200 day moving average of $23.35. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.20.

Magnolia Oil & Gas (NYSE:MGY) last issued its quarterly earnings results on Wednesday, October 29th. The company reported $0.41 earnings per share for the quarter, meeting the consensus estimate of $0.41. The business had revenue of $324.94 million for the quarter, compared to the consensus estimate of $322.52 million. Magnolia Oil & Gas had a net margin of 25.90% and a return on equity of 18.10%. The company’s revenue for the quarter was down 2.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.52 earnings per share. As a group, research analysts predict 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 declared a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Monday, November 10th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date was Monday, November 10th. Magnolia Oil & Gas’s dividend payout ratio is presently 33.52%.

Analysts Set New Price Targets

MGY has been the topic of several recent research reports. KeyCorp set a $29.00 price objective on shares of Magnolia Oil & Gas and gave the stock an “overweight” rating in a research note on Wednesday, October 15th. Piper Sandler reduced their target price on shares of Magnolia Oil & Gas from $25.00 to $23.00 and set a “neutral” rating for the company in a report on Tuesday, November 18th. Mizuho set a $29.00 price target on shares of Magnolia Oil & Gas in a research note on Friday, December 12th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Magnolia Oil & Gas in a research report on Wednesday, October 8th. Six investment analysts have rated the stock with a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Magnolia Oil & Gas has an average rating of “Hold” and a consensus price target of $26.50.

Magnolia Oil & Gas Company 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).