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MGY - Magnolia Oil & Gas News Story

$21.46 0.1  0.6%

Last Trade - 3:06pm

Sector
Energy
Size
Large Cap
Market Cap £3.66bn
Enterprise Value £3.96bn
Revenue £530.1m
Position in Universe 1465th / 7277

BUZZ-Magnolia Oil & Gas falls as Morgan Stanley prices large block

Fri 18th June, 2021 2:28pm
** Magnolia Oil & Gas  MGY.N  shares down ~8% premarket as
brokerage firm prices large block trade
    ** Market sources say Morgan Stanley re-offers ~7.6 mln
shares at $14.55, 2.4% discount to stock's Thurs close;
seller(s) not identified
    ** Per Refinitiv, just 5 holders own at least 7.6 mln
shares: Top holder EnerVest Management Partners owns ~29.5 mln
shares, followed by T. Rowe Price (~18.5 mln), Vanguard (~14.4
mln), BlackRock Institutional Trust (~8.8 mln) and Wellington
Management Co (~7.55 mln)
    ** Block represents nearly a week's worth of trading
volumes, based on 30-DMA of ~1.6 mln shares (Refinitiv)
    ** In Mar, EnerVest affiliates sold ~19.6 mln MGY shares,
inclusive of overallotment option, in secondary offering priced
at $10.50  urn:newsml:reuters.com:*:nL2N2L112C
    ** MGY has ~242.2 mln shares outstanding for ~$3.6 bln
market cap, per Refinitiv
    ** YTD, MGY shares have risen 111% through Thurs close

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper.tr.com@reuters.net
lance.tupper@tr.com 1-332-219-1430))
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