SG Americas Securities LLC Trims Position in Magnolia Oil & Gas Corp $MGY

SG Americas Securities LLC decreased its stake in shares of Magnolia Oil & Gas Corp (NYSE:MGY) by 17.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 91,918 shares of the company’s stock after selling 19,600 shares during the quarter. SG Americas Securities LLC’s holdings in Magnolia Oil & Gas were worth $2,012,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Mather Group LLC. purchased a new position in shares of Magnolia Oil & Gas during the third quarter worth approximately $31,000. EverSource Wealth Advisors LLC grew its stake in Magnolia Oil & Gas by 165.5% in 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 in the last quarter. Geneos Wealth Management Inc. grew its stake 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 worth $50,000 after purchasing an additional 1,051 shares in the last quarter. Nisa Investment Advisors LLC increased its holdings in Magnolia Oil & Gas by 31.5% during the 3rd quarter. Nisa Investment Advisors LLC now owns 3,003 shares of the company’s stock worth $72,000 after purchasing an additional 720 shares during the period. Finally, Osaic Holdings Inc. increased its holdings in Magnolia Oil & Gas by 160.0% during the 2nd 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 period. 94.73% of the stock is owned by hedge funds and other institutional investors.

Magnolia Oil & Gas Stock Down 0.0%

Shares of NYSE MGY opened at $31.03 on Monday. Magnolia Oil & Gas Corp has a 12-month low of $19.09 and a 12-month high of $32.76. The stock’s fifty day simple moving average is $28.26 and its two-hundred day simple moving average is $24.76. The stock has a market capitalization of $5.78 billion, a PE ratio of 18.04, a price-to-earnings-growth ratio of 2.18 and a beta of 0.83. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 0.20.

Magnolia Oil & Gas (NYSE:MGY) last released its quarterly earnings results on Thursday, February 5th. The company reported $0.37 EPS for the quarter, topping 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 firm had revenue of $317.63 million during the quarter, compared to analyst estimates of $322.18 million. During the same period in the previous year, the company posted $0.44 EPS. The business’s revenue for the quarter was down 2.8% compared to the same quarter last year. As a group, analysts expect that Magnolia Oil & Gas Corp will post 2.1 EPS for the current fiscal year.

Magnolia Oil & Gas Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 2nd. Stockholders of record on Tuesday, February 10th were issued a $0.165 dividend. The ex-dividend date was Tuesday, February 10th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 2.1%. This is an increase from Magnolia Oil & Gas’s previous quarterly dividend of $0.15. Magnolia Oil & Gas’s dividend payout ratio (DPR) is 38.37%.

Analyst Ratings Changes

MGY has been the subject of several research reports. Zacks Research upgraded Magnolia Oil & Gas from a “hold” rating to a “strong-buy” rating in a report on Thursday, March 26th. Mizuho set a $30.00 price target on Magnolia Oil & Gas in a research note on Friday, February 6th. BMO Capital Markets started coverage on shares of Magnolia Oil & Gas in a research note on Friday, January 9th. They issued an “outperform” rating and a $27.00 price objective for the company. Siebert Williams Shank cut shares of Magnolia Oil & Gas from a “buy” rating to a “hold” rating in a report on Friday, March 6th. Finally, Wells Fargo & Company set a $25.00 target price on shares of Magnolia Oil & Gas in a research report on Monday, February 16th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Magnolia Oil & Gas presently has an average rating of “Moderate Buy” and an average target price of $30.55.

Insider Transactions at Magnolia Oil & Gas

In other news, CFO Brian Corales sold 33,000 shares of Magnolia Oil & Gas stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $29.12, for a total value of $960,960.00. Following the transaction, the chief financial officer owned 184,178 shares of the company’s stock, valued at $5,363,263.36. The trade was a 15.19% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Christopher G. Stavros sold 119,954 shares of the stock in a transaction that occurred on Monday, March 9th. The shares were 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 of the company’s stock, valued at $25,880,409.68. The trade was a 11.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 338,954 shares of company stock worth $9,911,733. 1.20% of the stock is owned by corporate insiders.

About Magnolia Oil & Gas

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).