Corient Private Wealth LLC Lowers Holdings in Magnolia Oil & Gas Corp $MGY

Corient Private Wealth LLC reduced its stake in shares of Magnolia Oil & Gas Corp (NYSE:MGY) by 48.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,506 shares of the company’s stock after selling 38,903 shares during the quarter. Corient Private Wealth LLC’s holdings in Magnolia Oil & Gas were worth $933,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of MGY. Encompass Capital Advisors LLC bought a new position in shares of Magnolia Oil & Gas during the first quarter worth $53,819,000. American Century Companies Inc. boosted its holdings in shares of Magnolia Oil & Gas by 12.9% during the 2nd quarter. American Century Companies Inc. now owns 11,861,231 shares of the company’s stock valued at $266,641,000 after purchasing an additional 1,358,878 shares during the last quarter. Jane Street Group LLC grew its position in shares of Magnolia Oil & Gas by 1,382.9% during the first quarter. Jane Street Group LLC now owns 1,059,335 shares of the company’s stock valued at $26,759,000 after purchasing an additional 987,896 shares in the last quarter. Millennium Management LLC increased its holdings in shares of Magnolia Oil & Gas by 506.2% in the first quarter. Millennium Management LLC now owns 1,022,836 shares of the company’s stock worth $25,837,000 after purchasing an additional 854,113 shares during the last quarter. Finally, Boston Trust Walden Corp increased its holdings in shares of Magnolia Oil & Gas by 26.0% in the second quarter. Boston Trust Walden Corp now owns 4,003,770 shares of the company’s stock worth $90,005,000 after purchasing an additional 825,162 shares during the last quarter. Institutional investors own 94.73% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on MGY. Mizuho set a $29.00 price target on Magnolia Oil & Gas in a research note on Friday, December 12th. Piper Sandler lowered their target price on Magnolia Oil & Gas from $25.00 to $23.00 and set a “neutral” rating for the company in a research report on Tuesday, November 18th. KeyCorp set a $29.00 price target on shares of Magnolia Oil & Gas and gave the stock an “overweight” rating in a research report on Wednesday, October 15th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Magnolia Oil & Gas in a research report on Wednesday, October 8th. Six research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Magnolia Oil & Gas has an average rating of “Hold” and an average target price of $26.50.

Magnolia Oil & Gas Price Performance

Shares of Magnolia Oil & Gas stock opened at $21.71 on Friday. The stock has a market cap of $4.10 billion, a price-to-earnings ratio of 12.13, a price-to-earnings-growth ratio of 2.94 and a beta of 0.93. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.47 and a current ratio of 1.47. The stock has a 50 day moving average price of $22.60 and a 200-day moving average price of $23.35. Magnolia Oil & Gas Corp has a one year low of $19.09 and a one year high of $26.84.

Magnolia Oil & Gas (NYSE:MGY) last posted its quarterly earnings data on Wednesday, October 29th. The company reported $0.41 EPS for the quarter, hitting the consensus estimate of $0.41. Magnolia Oil & Gas had a net margin of 25.90% and a return on equity of 18.10%. The company had revenue of $324.94 million during the quarter, compared to analyst estimates of $322.52 million. During the same period in the previous year, the firm earned $0.52 earnings per share. Magnolia Oil & Gas’s quarterly revenue was down 2.5% compared to the same quarter last year. Equities analysts expect that Magnolia Oil & Gas Corp will post 2.1 EPS for the current year.

Magnolia Oil & Gas Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Monday, November 10th were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend was Monday, November 10th. Magnolia Oil & Gas’s dividend payout ratio is 33.52%.

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).