Northpointe Capital LLC Decreases Stake in Magnolia Oil & Gas Corp (MGY)

Northpointe Capital LLC lowered its position in shares of Magnolia Oil & Gas Corp (NYSE:MGY) by 90.7% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 31,022 shares of the company’s stock after selling 301,697 shares during the quarter. Northpointe Capital LLC’s holdings in Magnolia Oil & Gas were worth $372,000 as of its most recent filing with the SEC.

Other large investors have also recently modified their holdings of the company. Tibra Equities Europe Ltd purchased a new stake in shares of Magnolia Oil & Gas during the 1st quarter worth about $2,745,000. Point72 Asset Management L.P. purchased a new stake in shares of Magnolia Oil & Gas during the 3rd quarter worth about $15,707,000. Vanguard Group Inc. purchased a new stake in shares of Magnolia Oil & Gas during the 3rd quarter worth about $113,312,000. Credit Suisse AG purchased a new stake in shares of Magnolia Oil & Gas during the 3rd quarter worth about $156,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in shares of Magnolia Oil & Gas during the 3rd quarter worth about $7,428,000. Institutional investors and hedge funds own 63.84% of the company’s stock.

In other Magnolia Oil & Gas news, Chairman Stephen I. Chazen bought 25,000 shares of the business’s stock in a transaction on Wednesday, March 6th. The shares were bought at an average cost of $12.31 per share, with a total value of $307,750.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

MGY has been the subject of a number of analyst reports. ValuEngine upgraded Magnolia Oil & Gas from a “sell” rating to a “hold” rating in a report on Wednesday, January 2nd. Johnson Rice initiated coverage on Magnolia Oil & Gas in a report on Monday, January 7th. They issued a “buy” rating and a $17.00 price target for the company. Oppenheimer initiated coverage on Magnolia Oil & Gas in a report on Tuesday, January 8th. They issued an “outperform” rating and a $15.00 price target for the company. Citigroup initiated coverage on Magnolia Oil & Gas in a report on Wednesday, January 9th. They issued a “positive” rating and a $16.00 price target for the company. Finally, Susquehanna Bancshares initiated coverage on Magnolia Oil & Gas in a report on Wednesday, January 9th. They issued a “positive” rating and a $16.00 price target for the company. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $16.30.

Shares of MGY traded up $0.10 during trading on Wednesday, reaching $13.43. The company’s stock had a trading volume of 13,396 shares, compared to its average volume of 966,232. Magnolia Oil & Gas Corp has a twelve month low of $9.88 and a twelve month high of $15.23. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.14.

Magnolia Oil & Gas (NYSE:MGY) last announced its earnings results on Monday, February 25th. The company reported $0.22 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.29 by ($0.07). The business had revenue of $255.06 million during the quarter, compared to the consensus estimate of $267.36 million. Equities analysts forecast that Magnolia Oil & Gas Corp will post 0.76 EPS for the current year.

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Magnolia Oil & Gas Profile

Magnolia Oil & Gas Corporation engages in the business of acquisition, development, exploration, and production of oil, natural gas, and natural gas liquids reserves in the United States. The company has oil and natural gas properties located primarily in Karnes County and the Giddings Field in South Texas primarily comprising the Eagle Ford Shale and the Austin Chalk formation.

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Institutional Ownership by Quarter for Magnolia Oil & Gas (NYSE:MGY)

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