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

SIR Capital Management L.P. lowered its position in Magnolia Oil & Gas Corp (NYSE:MGY) by 41.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,010,794 shares of the company’s stock after selling 729,367 shares during the period. Magnolia Oil & Gas makes up approximately 2.4% of SIR Capital Management L.P.’s investment portfolio, making the stock its 14th biggest holding. SIR Capital Management L.P. owned approximately 0.54% of Magnolia Oil & Gas worth $22,126,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its stake in Magnolia Oil & Gas by 4.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 6,634,362 shares of the company’s stock worth $145,230,000 after purchasing an additional 264,649 shares during the last quarter. TD Asset Management Inc lifted its holdings in Magnolia Oil & Gas by 26.6% during the 4th quarter. TD Asset Management Inc now owns 5,671,819 shares of the company’s stock valued at $124,156,000 after buying an additional 1,193,458 shares in the last quarter. Wellington Management Group LLP lifted its holdings in Magnolia Oil & Gas by 2.2% during the 3rd quarter. Wellington Management Group LLP now owns 5,225,168 shares of the company’s stock valued at $124,725,000 after buying an additional 113,458 shares in the last quarter. Boston Trust Walden Corp lifted its holdings in Magnolia Oil & Gas by 5.7% during the 4th quarter. Boston Trust Walden Corp now owns 4,168,085 shares of the company’s stock valued at $91,239,000 after buying an additional 225,349 shares in the last quarter. Finally, Epoch Investment Partners Inc. lifted its holdings in Magnolia Oil & Gas by 58.7% during the 3rd quarter. Epoch Investment Partners Inc. now owns 4,138,626 shares of the company’s stock valued at $98,789,000 after buying an additional 1,531,061 shares in the last quarter. Institutional investors own 94.73% of the company’s stock.

Magnolia Oil & Gas Trading Up 1.3%

Shares of MGY opened at $27.59 on Friday. Magnolia Oil & Gas Corp has a 1-year low of $21.07 and a 1-year high of $32.76. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.10 and a quick ratio of 1.10. The firm has a market capitalization of $5.10 billion, a price-to-earnings ratio of 16.04 and a beta of 0.71. The company has a 50-day moving average of $28.92 and a 200 day moving average of $26.65.

Magnolia Oil & Gas (NYSE:MGY) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.51 by $0.03. Magnolia Oil & Gas had a net margin of 24.40% and a return on equity of 16.28%. The business had revenue of $358.51 million during the quarter, compared to analyst estimates of $349.89 million. During the same quarter in the previous year, the business posted $0.54 EPS. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. On average, research analysts expect that Magnolia Oil & Gas Corp will post 2.82 EPS for the current year.

Magnolia Oil & Gas Announces Dividend

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

Analyst Upgrades and Downgrades

MGY has been the subject of a number of research analyst reports. Zacks Research lowered shares of Magnolia Oil & Gas from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 19th. Wells Fargo & Company decreased their price objective on shares of Magnolia Oil & Gas from $32.00 to $31.00 and set an “equal weight” rating for the company in a report on Wednesday, May 13th. KeyCorp lifted their price objective on shares of Magnolia Oil & Gas from $30.00 to $38.00 and gave the company an “overweight” rating in a report on Thursday, April 2nd. 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 report on Monday, April 27th. Finally, 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 report on Thursday, March 12th. Seven analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $31.42.

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).