Aberdeen Group plc Buys 76,445 Shares of Magnolia Oil & Gas Corp $MGY

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 grew its holdings in Magnolia Oil & Gas Corp (NYSE:MGY - Free Report) by 14.0% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 620,731 shares of the company's stock after buying an additional 76,445 shares during the quarter. Aberdeen Group plc owned approximately 0.32% of Magnolia Oil & Gas worth $15,680,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. OneDigital Investment Advisors LLC lifted its holdings in Magnolia Oil & Gas by 3.0% in the 4th quarter. OneDigital Investment Advisors LLC now owns 15,768 shares of the company's stock worth $369,000 after buying an additional 464 shares during the period. Farther Finance Advisors LLC lifted its holdings in Magnolia Oil & Gas by 16.8% in the 1st quarter. Farther Finance Advisors LLC now owns 4,366 shares of the company's stock worth $111,000 after buying an additional 629 shares during the period. BOKF NA lifted its holdings in Magnolia Oil & Gas by 3.9% in the 4th quarter. BOKF NA now owns 19,014 shares of the company's stock worth $473,000 after buying an additional 713 shares during the period. Wealth Enhancement Advisory Services LLC lifted its holdings in Magnolia Oil & Gas by 4.8% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 15,470 shares of the company's stock worth $391,000 after buying an additional 715 shares during the period. Finally, HighTower Advisors LLC lifted its stake in shares of Magnolia Oil & Gas by 4.9% in the 1st quarter. HighTower Advisors LLC now owns 15,852 shares of the company's stock valued at $400,000 after purchasing an additional 746 shares during the period. Hedge funds and other institutional investors own 94.73% of the company's stock.

Magnolia Oil & Gas Stock Up 3.7%

Shares of MGY stock traded up $0.8680 during mid-day trading on Friday, hitting $24.2280. The company's stock had a trading volume of 2,261,394 shares, compared to its average volume of 2,399,185. Magnolia Oil & Gas Corp has a 52-week low of $19.09 and a 52-week high of $29.02. The business has a 50-day moving average price of $23.52 and a 200 day moving average price of $22.95. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.44 and a current ratio of 1.44. The stock has a market cap of $4.62 billion, a price-to-earnings ratio of 12.68, a PEG ratio of 3.03 and a beta of 1.31.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.03. The business had revenue of $318.98 million for the quarter, compared to analysts' expectations of $311.58 million. Magnolia Oil & Gas had a return on equity of 19.34% and a net margin of 27.57%.The business's revenue for the quarter was down 5.3% on a year-over-year basis. During the same period last year, the firm posted $0.51 earnings per share. Research analysts predict that Magnolia Oil & Gas Corp will post 2.1 EPS for the current fiscal year.

Magnolia Oil & Gas Announces Dividend

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

Analysts Set New Price Targets

A number of research firms have recently commented on MGY. UBS Group restated a "buy" rating and issued a $29.00 target price (up previously from $26.00) on shares of Magnolia Oil & Gas in a research note on Friday, June 13th. Bank of America raised their target price on Magnolia Oil & Gas from $23.00 to $25.00 and gave the company a "neutral" rating in a research note on Friday, May 23rd. Wells Fargo & Company lowered their target price on 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. Citigroup reiterated a "sell" rating on shares of Magnolia Oil & Gas in a research note on Thursday, July 10th. Finally, Piper Sandler lifted their price objective on Magnolia Oil & Gas from $24.00 to $25.00 and gave the company a "neutral" rating in a research note on Thursday, July 17th. Three research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Magnolia Oil & Gas has an average rating of "Hold" and a consensus target price of $26.67.

About Magnolia Oil & Gas

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.