Jefferies Financial Group Inc. Sells 24,447 Shares of Magnolia Oil & Gas Corp $MGY

Jefferies Financial Group Inc. reduced its holdings in shares of Magnolia Oil & Gas Corp (NYSE:MGY) by 18.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 107,158 shares of the company’s stock after selling 24,447 shares during the quarter. Jefferies Financial Group Inc.’s holdings in Magnolia Oil & Gas were worth $2,558,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in 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 acquiring an additional 836 shares in the last quarter. Mather Group LLC. acquired a new position in Magnolia Oil & Gas during the 3rd quarter valued at about $31,000. EverSource Wealth Advisors LLC increased its holdings in Magnolia Oil & Gas by 165.5% during the 2nd 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. increased its holdings in Magnolia Oil & Gas by 90.5% during the 2nd 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. Finally, Nisa Investment Advisors LLC raised its stake in shares of Magnolia Oil & Gas by 31.5% in the third 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 last quarter. 94.73% of the stock is owned by institutional investors.

Magnolia Oil & Gas Stock Performance

Shares of MGY stock opened at $28.74 on Wednesday. The firm has a market cap of $5.36 billion, a price-to-earnings ratio of 16.71 and a beta of 0.89. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.54 and a current ratio of 1.54. Magnolia Oil & Gas Corp has a 52 week low of $19.09 and a 52 week high of $29.74. The firm’s 50-day simple moving average is $25.31 and its two-hundred day simple moving average is $23.95.

Magnolia Oil & Gas (NYSE:MGY) last released its earnings results on Thursday, February 5th. The company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $322.18 million. During the same period in the prior year, the firm earned $0.44 EPS. The company’s revenue was down 2.8% compared to the same quarter last year. As a group, equities analysts forecast that Magnolia Oil & Gas Corp will post 2.1 earnings per share for the current year.

Magnolia Oil & Gas Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 2nd. Investors of record on Tuesday, February 10th were paid a $0.165 dividend. The ex-dividend date was Tuesday, February 10th. This is a positive change from Magnolia Oil & Gas’s previous quarterly dividend of $0.15. This represents a $0.66 annualized dividend and a yield of 2.3%. Magnolia Oil & Gas’s dividend payout ratio (DPR) is currently 38.37%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on MGY. UBS Group raised their target price on Magnolia Oil & Gas from $29.00 to $35.00 and gave the company a “buy” rating in a report on Thursday, March 5th. BMO Capital Markets assumed coverage on Magnolia Oil & Gas in a report on Friday, January 9th. They set an “outperform” rating and a $27.00 price target for the company. Citigroup increased their price target on Magnolia Oil & Gas from $25.00 to $29.00 and gave the company a “neutral” rating in a research report on Wednesday, February 18th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Magnolia Oil & Gas in a report on Thursday, January 22nd. Finally, Siebert Williams Shank lowered shares of Magnolia Oil & Gas from a “buy” rating to a “hold” rating in a research note on Friday, March 6th. Eight equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $28.18.

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).