Sterling Capital Management LLC Sells 47,578 Shares of Magnolia Oil & Gas Corp $MGY

Sterling Capital Management LLC decreased its holdings in shares of Magnolia Oil & Gas Corp (NYSE:MGY) by 55.6% in the 1st quarter, Holdings Channel reports. The firm owned 37,994 shares of the company’s stock after selling 47,578 shares during the period. Sterling Capital Management LLC’s holdings in Magnolia Oil & Gas were worth $1,199,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of MGY. Salomon & Ludwin LLC increased its holdings in shares of Magnolia Oil & Gas by 130.1% in the 4th quarter. Salomon & Ludwin LLC now owns 1,344 shares of the company’s stock worth $29,000 after buying an additional 760 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of 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 acquiring an additional 864 shares during the last quarter. Torren Management LLC bought a new stake in shares of Magnolia Oil & Gas during the 4th quarter worth $38,000. Parallel Advisors LLC grew its position in Magnolia Oil & Gas by 79.8% in the fourth quarter. Parallel Advisors LLC now owns 1,769 shares of the company’s stock worth $39,000 after acquiring an additional 785 shares in the last quarter. Finally, First Horizon Corp increased its stake in Magnolia Oil & Gas by 159.8% in the fourth quarter. First Horizon Corp now owns 1,889 shares of the company’s stock valued at $41,000 after acquiring an additional 1,162 shares during the last quarter. 94.73% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on MGY. KeyCorp restated an “overweight” rating on shares of Magnolia Oil & Gas in a research report on Monday. Roth Mkm upgraded Magnolia Oil & Gas from a “neutral” rating to a “buy” rating and set a $31.00 price objective on the stock in a report on Monday, June 22nd. Weiss Ratings lowered Magnolia Oil & Gas from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, May 21st. Zacks Research cut Magnolia Oil & Gas from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 19th. Finally, Mizuho raised their price target on Magnolia Oil & Gas from $33.00 to $35.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 27th. Eight investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $31.33.

Magnolia Oil & Gas Stock Down 3.9%

Shares of NYSE:MGY opened at $25.74 on Tuesday. The stock’s 50-day moving average is $28.22 and its 200 day moving average is $26.95. The company has a market cap of $4.76 billion, a PE ratio of 14.97 and a beta of 0.71. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.10 and a quick ratio of 1.10. Magnolia Oil & Gas Corp has a 1 year low of $21.07 and a 1 year high of $32.76.

Magnolia Oil & Gas (NYSE:MGY) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.03. The business had revenue of $358.51 million for the quarter, compared to analysts’ expectations of $349.89 million. Magnolia Oil & Gas had a net margin of 24.40% and a return on equity of 16.28%. The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.54 earnings per share. Sell-side analysts anticipate that Magnolia Oil & Gas Corp will post 2.83 EPS for the current year.

Magnolia Oil & Gas Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Tuesday, May 12th were paid a dividend of $0.165 per share. The ex-dividend date of this dividend was Tuesday, May 12th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 2.6%. Magnolia Oil & Gas’s payout ratio is presently 38.37%.

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).