SIR Capital Management L.P. Sells 729,367 Shares of Magnolia Oil & Gas Corp $MGY

SIR Capital Management L.P. lowered its holdings in Magnolia Oil & Gas Corp (NYSE:MGY) by 41.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,010,794 shares of the company’s stock after selling 729,367 shares during the quarter. Magnolia Oil & Gas makes up 2.4% of SIR Capital Management L.P.’s portfolio, making the stock its 14th biggest position. SIR Capital Management L.P.’s holdings in Magnolia Oil & Gas were worth $22,126,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of MGY. Salomon & Ludwin LLC raised 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 valued at $29,000 after purchasing an additional 760 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Magnolia Oil & Gas by 165.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,386 shares of the company’s stock worth $31,000 after buying an additional 864 shares during the last quarter. Torren Management LLC purchased a new position in shares of Magnolia Oil & Gas in the 4th quarter worth approximately $38,000. Parallel Advisors LLC grew its position in shares of Magnolia Oil & Gas by 79.8% in the 4th quarter. Parallel Advisors LLC now owns 1,769 shares of the company’s stock worth $39,000 after buying an additional 785 shares during the last quarter. Finally, First Horizon Corp grew its position in shares of Magnolia Oil & Gas by 159.8% in the 4th quarter. First Horizon Corp now owns 1,889 shares of the company’s stock worth $41,000 after buying an additional 1,162 shares during the last quarter. Institutional investors own 94.73% of the company’s stock.

Analysts Set New Price Targets

MGY has been the topic of a number of analyst reports. Zacks Research downgraded shares of Magnolia Oil & Gas from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 19th. Siebert Williams Shank downgraded shares of Magnolia Oil & Gas from a “buy” rating to a “hold” rating in a research report on Friday, March 6th. Wells Fargo & Company cut their price objective on shares of Magnolia Oil & Gas from $32.00 to $31.00 and set an “equal weight” rating on the stock in a research report on Wednesday, May 13th. Citigroup cut their price objective on shares of Magnolia Oil & Gas from $35.00 to $32.00 and set a “neutral” rating on the stock in a research report on Monday, April 13th. Finally, Piper Sandler lifted their price objective on shares of Magnolia Oil & Gas from $28.00 to $31.00 and gave the stock a “neutral” rating in a research report on Thursday, March 12th. Seven investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $31.42.

Magnolia Oil & Gas Stock Up 1.3%

Shares of Magnolia Oil & Gas stock opened at $27.59 on Friday. The firm’s 50 day moving average price is $28.92 and its 200-day moving average price is $26.65. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.19. Magnolia Oil & Gas Corp has a 52-week low of $21.07 and a 52-week high of $32.76. The company has a market cap of $5.10 billion, a P/E ratio of 16.04 and a beta of 0.71.

Magnolia Oil & Gas (NYSE:MGY) last released its earnings results on Wednesday, May 6th. The company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.03. The company had revenue of $358.51 million for the quarter, compared to the consensus estimate of $349.89 million. Magnolia Oil & Gas had a net margin of 24.40% and a return on equity of 16.28%. Magnolia Oil & Gas’s revenue was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.54 EPS. On average, sell-side analysts predict that Magnolia Oil & Gas Corp will post 2.82 EPS for the current fiscal year.

Magnolia Oil & Gas Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Tuesday, May 12th were given a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend was Tuesday, May 12th. Magnolia Oil & Gas’s payout ratio is currently 38.37%.

Magnolia Oil & Gas 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).