Horizon Investments LLC Decreases Position in Magnolia Oil & Gas Corp $MGY

Horizon Investments LLC lowered its stake in shares of Magnolia Oil & Gas Corp (NYSE:MGY) by 89.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,472 shares of the company’s stock after selling 20,875 shares during the period. Horizon Investments LLC’s holdings in Magnolia Oil & Gas were worth $54,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of MGY. AQR Capital Management LLC grew its stake in Magnolia Oil & Gas by 77.7% in the 1st quarter. AQR Capital Management LLC now owns 56,346 shares of the company’s stock valued at $1,423,000 after buying an additional 24,631 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Magnolia Oil & Gas by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 103,109 shares of the company’s stock valued at $2,605,000 after buying an additional 4,512 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Magnolia Oil & Gas by 8.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 242,880 shares of the company’s stock valued at $6,135,000 after buying an additional 18,447 shares in the last quarter. Intech Investment Management LLC grew its stake in Magnolia Oil & Gas by 11.3% in the 1st quarter. Intech Investment Management LLC now owns 68,814 shares of the company’s stock valued at $1,738,000 after buying an additional 7,008 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in Magnolia Oil & Gas by 165.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,386 shares of the company’s stock valued at $31,000 after buying an additional 864 shares in the last quarter. 94.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Dan F. Smith sold 18,000 shares of Magnolia Oil & Gas stock in a transaction on Monday, March 9th. The shares were sold at an average price of $29.01, for a total transaction of $522,180.00. Following the completion of the sale, the director directly owned 119,204 shares of the company’s stock, valued at approximately $3,458,108.04. The trade was a 13.12% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Edward P. Djerejian sold 18,000 shares of Magnolia Oil & Gas stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $28.98, for a total transaction of $521,640.00. Following the sale, the director directly owned 110,425 shares of the company’s stock, valued at $3,200,116.50. This represents a 14.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 338,954 shares of company stock worth $9,911,733. Company insiders own 0.92% of the company’s stock.

Magnolia Oil & Gas Stock Up 1.5%

MGY opened at $28.23 on Tuesday. The company has a fifty day moving average price of $29.69 and a 200-day moving average price of $25.70. The firm has a market capitalization of $5.26 billion, a P/E ratio of 16.41, a price-to-earnings-growth ratio of 1.71 and a beta of 0.75. 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 one year low of $21.07 and a one 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 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.03. The firm had revenue of $358.51 million during the quarter, compared to analyst estimates of $349.89 million. Magnolia Oil & Gas had a net margin of 24.40% and a return on equity of 16.28%. The business’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.54 EPS. Equities research analysts expect that Magnolia Oil & Gas Corp will post 2.82 earnings per share for the current fiscal year.

Magnolia Oil & Gas Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Tuesday, May 12th will be given a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Tuesday, May 12th. Magnolia Oil & Gas’s payout ratio is 38.37%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on MGY. Piper Sandler lifted their price objective on shares of Magnolia Oil & Gas from $28.00 to $31.00 and gave the company a “neutral” rating in a research note on Thursday, March 12th. Roth Mkm reiterated a “neutral” rating and issued a $32.00 price objective (up from $29.00) on shares of Magnolia Oil & Gas in a research note on Wednesday, April 8th. Bank of America upgraded shares of Magnolia Oil & Gas from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $26.00 to $28.00 in a research note on Friday, January 16th. Truist Financial lifted their price objective on shares of Magnolia Oil & Gas from $33.00 to $34.00 and gave the company a “hold” rating in a research note on Monday, April 27th. Finally, Weiss Ratings upgraded shares of Magnolia Oil & Gas from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, Magnolia Oil & Gas presently has an average rating of “Moderate Buy” and a consensus price target of $31.08.

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).