Magnolia Oil & Gas Corp $MGY Shares Purchased by Aberdeen Group plc

Key Points

• Aberdeen Group plc has increased its stake in Magnolia Oil & Gas Corp by 14.0%, owning approximately 0.32% of the company valued at $15.68 million after acquiring 76,445 additional shares.
• Magnolia Oil & Gas announced a quarterly dividend of $0.15 per share, representing a yield of 2.6% and a payout ratio of 31.41%.
• The company's latest earnings report reflected a net revenue of $318.98 million for the quarter, slightly exceeding analysts' expectations despite a 5.3% decrease compared to the same quarter last year.

Aberdeen Group plc raised its position in Magnolia Oil & Gas Corp (NYSE:MGY - Free Report) by 14.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 620,731 shares of the company's stock after acquiring an additional 76,445 shares during the period. Aberdeen Group plc owned approximately 0.32% of Magnolia Oil & Gas worth $15,680,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Janus Henderson Group PLC boosted its stake in Magnolia Oil & Gas by 11.7% in the fourth quarter. Janus Henderson Group PLC now owns 6,396,875 shares of the company's stock valued at $149,559,000 after acquiring an additional 667,973 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Magnolia Oil & Gas by 12.5% during the first quarter. Dimensional Fund Advisors LP now owns 5,365,892 shares of the company's stock worth $135,541,000 after buying an additional 597,845 shares during the period. Boston Trust Walden Corp lifted its stake in shares of Magnolia Oil & Gas by 2.8% during the first quarter. Boston Trust Walden Corp now owns 3,178,608 shares of the company's stock worth $80,292,000 after buying an additional 88,021 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in shares of Magnolia Oil & Gas by 3.6% during the first quarter. Allspring Global Investments Holdings LLC now owns 3,175,387 shares of the company's stock worth $81,004,000 after buying an additional 110,961 shares during the period. Finally, Systematic Financial Management LP lifted its stake in shares of Magnolia Oil & Gas by 3.9% during the fourth quarter. Systematic Financial Management LP now owns 3,033,275 shares of the company's stock worth $70,918,000 after buying an additional 113,257 shares during the period. 94.73% of the stock is currently owned by institutional investors and hedge funds.

Magnolia Oil & Gas Price Performance

NYSE MGY traded up $0.8680 during trading hours on Friday, hitting $24.2280. 2,261,394 shares of the company's stock traded hands, compared to its average volume of 2,418,950. Magnolia Oil & Gas Corp has a 52-week low of $19.09 and a 52-week high of $29.02. The company has a market capitalization of $4.62 billion, a PE ratio of 12.68, a PEG ratio of 3.14 and a beta of 1.31. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.44 and a quick ratio of 1.44. The firm's 50-day moving average is $23.52 and its 200-day moving average is $22.94.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.03. The company had revenue of $318.98 million during the quarter, compared to analysts' expectations of $311.58 million. Magnolia Oil & Gas had a net margin of 27.57% and a return on equity of 19.34%. Magnolia Oil & Gas's revenue was down 5.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.51 EPS. Equities analysts forecast that Magnolia Oil & Gas Corp will post 2.1 EPS for the current fiscal year.

Magnolia Oil & Gas Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Monday, August 11th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 2.5%. The ex-dividend date is Monday, August 11th. Magnolia Oil & Gas's payout ratio is presently 31.41%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Citigroup reiterated a "sell" rating on shares of Magnolia Oil & Gas in a research note on Thursday, July 10th. Bank of America lifted their price objective on shares of Magnolia Oil & Gas from $23.00 to $25.00 and gave the stock a "neutral" rating in a research note on Friday, May 23rd. Wells Fargo & Company lowered their price objective on shares of Magnolia Oil & Gas from $22.00 to $21.00 and set an "underweight" rating for the company in a research note on Monday, June 16th. UBS Group reaffirmed a "buy" rating and issued a $29.00 price objective (up previously from $26.00) on shares of Magnolia Oil & Gas in a report on Friday, June 13th. Finally, Piper Sandler lifted their price objective on shares of Magnolia Oil & Gas from $24.00 to $25.00 and gave the company a "neutral" rating in a report on Thursday, July 17th. Three investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, Magnolia Oil & Gas currently has a consensus rating of "Hold" and a consensus target price of $26.67.

Magnolia Oil & Gas Profile

Magnolia Oil & Gas Corp. engages in the acquisition, development, exploration, and production of oil and natural gas properties. It operates assets located in the Eagle Ford Shale and Austin Chalk formations in South Texas. The company was founded on February 14, 2017 and is headquartered in Houston, TX.