Squarepoint Ops LLC Sells 24,473 Shares of Magnolia Oil & Gas Corp $MGY

Squarepoint Ops LLC trimmed its position in Magnolia Oil & Gas Corp (NYSE:MGY) by 5.4% during the second quarter, HoldingsChannel reports. The institutional investor owned 430,380 shares of the company’s stock after selling 24,473 shares during the period. Squarepoint Ops LLC’s holdings in Magnolia Oil & Gas were worth $11,009,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Lido Advisors LLC grew its stake in Magnolia Oil & Gas by 2.4% during the fourth quarter. Lido Advisors LLC now owns 16,197 shares of the company’s stock valued at $382,000 after acquiring an additional 387 shares in the last quarter. Smartleaf Asset Management LLC lifted its stake in Magnolia Oil & Gas by 10.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 4,624 shares of the company’s stock worth $102,000 after purchasing an additional 422 shares in the last quarter. Coldstream Capital Management Inc. boosted its holdings in Magnolia Oil & Gas by 3.1% in the 3rd quarter. Coldstream Capital Management Inc. now owns 15,937 shares of the company’s stock valued at $380,000 after purchasing an additional 482 shares during the period. Allworth Financial LP boosted its holdings in Magnolia Oil & Gas by 11.0% in the 2nd quarter. Allworth Financial LP now owns 5,760 shares of the company’s stock valued at $147,000 after purchasing an additional 571 shares during the period. Finally, Stifel Financial Corp grew its position in shares of Magnolia Oil & Gas by 1.6% during the 4th quarter. Stifel Financial Corp now owns 36,980 shares of the company’s stock valued at $809,000 after purchasing an additional 585 shares in the last quarter. 94.73% of the stock is currently owned by institutional investors.

Insider Transactions at Magnolia Oil & Gas

In other Magnolia Oil & Gas news, Director David Khani purchased 8,000 shares of the business’s stock in a transaction on Friday, August 7th. The stock was acquired at an average cost of $25.00 per share, for a total transaction of $200,000.00. Following the completion of the transaction, the director directly owned 30,622 shares in the company, valued at approximately $765,550. This represents a 35.36% increase in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.92% of the stock is currently owned by insiders.

Magnolia Oil & Gas Trading Up 1.3%

MGY stock opened at $27.77 on Thursday. The company has a market capitalization of $6.58 billion, a PE ratio of 12.18 and a beta of 0.70. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.58 and a current ratio of 1.58. Magnolia Oil & Gas Corp has a one year low of $21.07 and a one year high of $32.76. The company’s 50 day moving average price is $26.12 and its two-hundred day moving average price is $27.84.

Magnolia Oil & Gas (NYSE:MGY) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.06. Magnolia Oil & Gas had a net margin of 28.77% and a return on equity of 21.04%. The company had revenue of $478.81 million during the quarter, compared to analysts’ expectations of $458.10 million. During the same quarter in the prior year, the company earned $0.41 EPS. The firm’s revenue was up 50.1% on a year-over-year basis. As a group, analysts predict that Magnolia Oil & Gas Corp will post 2.91 earnings per share for the current fiscal year.

Magnolia Oil & Gas Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Monday, August 10th were paid a $0.18 dividend. This is a boost from Magnolia Oil & Gas’s previous quarterly dividend of $0.17. This represents a $0.72 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend was Monday, August 10th. Magnolia Oil & Gas’s payout ratio is presently 31.58%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Seaport Research Partners assumed coverage on shares of Magnolia Oil & Gas in a report on Thursday, September 3rd. They issued a “neutral” rating on the stock. Wells Fargo & Company raised Magnolia Oil & Gas to a “hold” rating in a research note on Wednesday, September 2nd. JPMorgan Chase & Co. upgraded Magnolia Oil & Gas from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $32.00 to $33.00 in a research note on Tuesday. Citigroup lowered their price target on Magnolia Oil & Gas from $29.00 to $27.00 and set a “neutral” rating on the stock in a report on Tuesday, August 11th. Finally, UBS Group cut their price target on shares of Magnolia Oil & Gas from $38.00 to $34.00 and set a “buy” rating for the company in a research note on Friday, July 10th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $31.71.

Magnolia Oil & Gas Company 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).