Pacer Advisors Inc. Sells 37,259 Shares of Magnolia Oil & Gas Corp $MGY

Pacer Advisors Inc. lowered its position in shares of Magnolia Oil & Gas Corp (NYSE:MGY) by 5.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 589,486 shares of the company’s stock after selling 37,259 shares during the period. Pacer Advisors Inc. owned about 0.32% of Magnolia Oil & Gas worth $12,904,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in MGY. Salomon & Ludwin LLC lifted its stake in Magnolia Oil & Gas by 130.1% in the fourth quarter. Salomon & Ludwin LLC now owns 1,344 shares of the company’s stock worth $29,000 after acquiring an additional 760 shares during the period. EverSource Wealth Advisors LLC increased its position in Magnolia Oil & Gas by 165.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,386 shares of the company’s stock valued at $31,000 after purchasing an additional 864 shares during the period. Torren Management LLC purchased a new position in Magnolia Oil & Gas during the 4th quarter valued at about $38,000. Parallel Advisors LLC raised its holdings 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 valued at $39,000 after purchasing an additional 785 shares in the last quarter. Finally, First Horizon Corp raised its holdings 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 valued at $41,000 after purchasing an additional 1,162 shares in the last quarter. 94.73% of the stock is currently owned by institutional investors.

Magnolia Oil & Gas Stock Performance

Shares of Magnolia Oil & Gas stock opened at $26.40 on Friday. The company has a market capitalization of $4.88 billion, a PE ratio of 15.35 and a beta of 0.71. The company has a 50-day simple moving average of $28.51 and a two-hundred day simple moving average of $26.78. Magnolia Oil & Gas Corp has a one year low of $21.07 and a one year high of $32.76. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.10 and a current ratio of 1.10.

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 analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $349.89 million. During the same period last year, the business earned $0.54 EPS. The company’s revenue was up 2.3% compared to the same quarter last year. Research analysts expect that Magnolia Oil & Gas Corp will post 2.82 EPS for the current fiscal year.

Magnolia Oil & Gas Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Tuesday, May 12th were paid a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 2.5%. The ex-dividend date was Tuesday, May 12th. Magnolia Oil & Gas’s dividend payout ratio (DPR) is 38.37%.

Analysts Set New Price Targets

MGY has been the topic of a number of recent research reports. Zacks Research downgraded shares of Magnolia Oil & Gas from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 19th. Roth Mkm reissued 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. KeyCorp boosted their price objective on shares of Magnolia Oil & Gas from $30.00 to $38.00 and gave the stock an “overweight” rating in a research note on Thursday, April 2nd. Mizuho upped their target price on Magnolia Oil & Gas from $33.00 to $35.00 and gave the stock an “outperform” rating in a report on Wednesday, May 27th. Finally, Siebert Williams Shank cut Magnolia Oil & Gas from a “buy” rating to a “hold” rating in a research report on Friday, March 6th. Seven research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, Magnolia Oil & Gas currently has a consensus rating of “Hold” and an average price target of $31.42.

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).