Citigroup Inc. Sells 153,243 Shares of Magnolia Oil & Gas Corp $MGY

Citigroup Inc. trimmed its position in Magnolia Oil & Gas Corp (NYSE:MGY) by 43.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 196,804 shares of the company’s stock after selling 153,243 shares during the period. Citigroup Inc. owned 0.10% of Magnolia Oil & Gas worth $4,698,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Heartland Advisors Inc. grew its position in shares of Magnolia Oil & Gas by 92.1% in the 3rd quarter. Heartland Advisors Inc. now owns 576,290 shares of the company’s stock worth $13,756,000 after buying an additional 276,290 shares during the period. GSA Capital Partners LLP boosted its stake in Magnolia Oil & Gas by 106.4% during the third quarter. GSA Capital Partners LLP now owns 51,488 shares of the company’s stock worth $1,229,000 after acquiring an additional 26,547 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Magnolia Oil & Gas by 34.8% in the third quarter. JPMorgan Chase & Co. now owns 858,972 shares of the company’s stock worth $20,504,000 after purchasing an additional 221,920 shares during the period. State of New Jersey Common Pension Fund D increased its stake in shares of Magnolia Oil & Gas by 5.0% during the third quarter. State of New Jersey Common Pension Fund D now owns 91,056 shares of the company’s stock valued at $2,174,000 after purchasing an additional 4,301 shares in the last quarter. Finally, Public Sector Pension Investment Board increased its stake in shares of Magnolia Oil & Gas by 10.9% during the third quarter. Public Sector Pension Investment Board now owns 804,492 shares of the company’s stock valued at $19,203,000 after purchasing an additional 79,202 shares in the last quarter. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Magnolia Oil & Gas Price Performance

MGY opened at $28.43 on Wednesday. The company’s 50-day simple moving average is $24.60 and its two-hundred day simple moving average is $23.76. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.54 and a current ratio of 1.54. The stock has a market capitalization of $5.30 billion, a P/E ratio of 16.53 and a beta of 0.89. Magnolia Oil & Gas Corp has a 52-week low of $19.09 and a 52-week high of $29.10.

Magnolia Oil & Gas (NYSE:MGY) last released its quarterly earnings data on Thursday, February 5th. The company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.01. Magnolia Oil & Gas had a net margin of 24.79% and a return on equity of 16.67%. The firm had revenue of $317.63 million during the quarter, compared to analysts’ expectations of $322.18 million. During the same period in the previous year, the company earned $0.44 earnings per share. The firm’s quarterly revenue was down 2.8% on a year-over-year basis. As a group, analysts predict that Magnolia Oil & Gas Corp will post 2.1 EPS for the current 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 paid a $0.165 dividend. This is an increase from Magnolia Oil & Gas’s previous quarterly dividend of $0.15. The ex-dividend date was Tuesday, February 10th. 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%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on MGY. Roth Mkm restated a “buy” rating on shares of Magnolia Oil & Gas in a research note on Tuesday, February 10th. The Goldman Sachs Group increased their target price on Magnolia Oil & Gas from $23.00 to $26.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 11th. Benchmark reaffirmed a “hold” rating on shares of Magnolia Oil & Gas in a research report on Wednesday, January 21st. Weiss Ratings reissued a “hold (c)” rating on shares of Magnolia Oil & Gas in a research report on Thursday, January 22nd. Finally, Wells Fargo & Company set a $25.00 price objective on shares of Magnolia Oil & Gas in a research note on Monday, February 16th. Eight analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average 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).