Algert Global LLC Purchases New Position in Magnolia Oil & Gas Corp $MGY

Key Points

• Algert Global LLC has acquired a new stake in Magnolia Oil & Gas Corp, purchasing 61,320 shares valued at approximately $1,549,000.
• The company recently reported earnings of $0.43 per share, which exceeded analyst expectations, alongside a net margin of 27.57%.
• Magnolia Oil & Gas announced a quarterly dividend of $0.15 per share, representing an annual yield of 2.5%.

Algert Global LLC acquired a new position in Magnolia Oil & Gas Corp (NYSE:MGY - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 61,320 shares of the company's stock, valued at approximately $1,549,000.

A number of other hedge funds have also recently made changes to their positions in the stock. American Century Companies Inc. raised its position in Magnolia Oil & Gas by 5.7% in the first quarter. American Century Companies Inc. now owns 10,502,353 shares of the company's stock valued at $265,289,000 after purchasing an additional 562,223 shares during the period. Aberdeen Group plc grew its stake in shares of Magnolia Oil & Gas by 14.0% in the first quarter. Aberdeen Group plc now owns 620,731 shares of the company's stock valued at $15,680,000 after buying an additional 76,445 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Magnolia Oil & Gas by 12.5% in the first quarter. Dimensional Fund Advisors LP now owns 5,365,892 shares of the company's stock valued at $135,541,000 after buying an additional 597,845 shares in the last quarter. Mitsubishi UFJ Asset Management UK Ltd. raised its holdings in shares of Magnolia Oil & Gas by 74.4% in the 1st quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 68,000 shares of the company's stock valued at $1,718,000 after buying an additional 29,000 shares during the period. Finally, Russell Investments Group Ltd. lifted its stake in Magnolia Oil & Gas by 38.5% during the 1st quarter. Russell Investments Group Ltd. now owns 284,285 shares of the company's stock worth $7,181,000 after acquiring an additional 79,075 shares in the last quarter. Hedge funds and other institutional investors own 94.73% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. William Blair began coverage on Magnolia Oil & Gas in a report on Monday. They set an "outperform" rating for the company. 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. 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. Citigroup reiterated a "sell" rating on shares of Magnolia Oil & Gas in a report on Thursday, July 10th. Finally, Bank of America raised their price target on shares of Magnolia Oil & Gas from $23.00 to $25.00 and gave the company a "neutral" rating in a research report on Friday, May 23rd. Four research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $26.67.

Magnolia Oil & Gas Stock Down 0.3%

NYSE MGY traded down $0.08 during trading on Thursday, reaching $24.67. 331,995 shares of the company's stock were exchanged, compared to its average volume of 2,627,370. The company has a 50 day moving average price of $23.53 and a two-hundred day moving average price of $22.98. The stock has a market cap of $4.71 billion, a P/E ratio of 12.91, a price-to-earnings-growth ratio of 3.16 and a beta of 1.31. Magnolia Oil & Gas Corp has a 1 year low of $19.09 and a 1 year high of $29.02. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.44 and a current ratio of 1.44.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $0.43 EPS for the quarter, beating analysts' consensus estimates of $0.40 by $0.03. The business had revenue of $318.98 million for the quarter, compared to the consensus estimate 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 quarter in the prior year, the business posted $0.51 EPS. On average, equities research analysts anticipate that Magnolia Oil & Gas Corp will post 2.1 EPS for the current fiscal year.

Magnolia Oil & Gas Dividend Announcement

The business also recently disclosed 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. The ex-dividend date of this dividend is Monday, August 11th. This represents a $0.60 dividend on an annualized basis and a yield of 2.4%. Magnolia Oil & Gas's dividend payout ratio (DPR) is presently 31.41%.

Magnolia Oil & Gas Company 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.