Aberdeen Group plc Sells 31,058 Shares of Magnolia Oil & Gas Corp $MGY

Aberdeen Group plc lessened its stake in Magnolia Oil & Gas Corp (NYSE:MGY) by 5.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 515,209 shares of the company’s stock after selling 31,058 shares during the period. Aberdeen Group plc owned 0.27% of Magnolia Oil & Gas worth $12,458,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Magnolia Oil & Gas by 236.2% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,190 shares of the company’s stock valued at $27,000 after purchasing an additional 836 shares in the last quarter. Mather Group LLC. purchased a new stake in shares of Magnolia Oil & Gas during the third quarter valued at $31,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Magnolia Oil & Gas in the second quarter valued at about $30,000. EverSource Wealth Advisors LLC raised its holdings in shares of 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 purchasing an additional 864 shares during the last quarter. Finally, Geneos Wealth Management Inc. lifted its holdings in shares of Magnolia Oil & Gas by 90.5% in the 2nd quarter. Geneos Wealth Management Inc. now owns 2,212 shares of the company’s stock valued at $50,000 after buying an additional 1,051 shares during the period. 94.73% of the stock is owned by institutional investors.

Magnolia Oil & Gas Stock Performance

NYSE:MGY opened at $27.08 on Friday. The company has a fifty day moving average of $23.70 and a 200-day moving average of $23.54. Magnolia Oil & Gas Corp has a twelve month low of $19.09 and a twelve month high of $27.47. The firm has a market capitalization of $5.11 billion, a P/E ratio of 15.74 and a beta of 0.96. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 0.20.

Magnolia Oil & Gas (NYSE:MGY) last issued its earnings results on Thursday, February 5th. The company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.36 by $0.01. Magnolia Oil & Gas had a return on equity of 16.67% and a net margin of 24.79%.The company had revenue of $317.63 million during the quarter, compared to the consensus estimate of $322.18 million. During the same period last year, the business posted $0.44 EPS. The firm’s revenue for the quarter was down 2.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Magnolia Oil & Gas Corp will post 2.1 EPS for the current year.

Magnolia Oil & Gas Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Tuesday, February 10th will be paid a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 2.4%. This is a positive change from Magnolia Oil & Gas’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Tuesday, February 10th. Magnolia Oil & Gas’s payout ratio is 38.37%.

Analyst Upgrades and Downgrades

MGY has been the subject of a number of recent analyst reports. Benchmark reaffirmed a “hold” rating on shares of Magnolia Oil & Gas in a report on Wednesday, January 21st. Citigroup raised their price objective on Magnolia Oil & Gas from $25.00 to $29.00 and gave the company a “neutral” rating in a report on Wednesday. Roth Mkm restated a “buy” rating on shares of Magnolia Oil & Gas in a report on Tuesday, February 10th. BMO Capital Markets started coverage on Magnolia Oil & Gas in a report on Friday, January 9th. They set an “outperform” rating and a $27.00 price target on the stock. Finally, Wells Fargo & Company set a $25.00 price objective on Magnolia Oil & Gas in a report on Monday. Eight research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, Magnolia Oil & Gas has an average rating of “Moderate Buy” and a consensus target price of $27.58.

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).