Boston Trust Walden Corp Acquires 825,162 Shares of Magnolia Oil & Gas Corp $MGY

Key Points

• Boston Trust Walden Corp increased its stake in Magnolia Oil & Gas Corp by 26.0%, owning a total of 4,003,770 shares valued at approximately $90 million after acquiring an additional 825,162 shares.
• The company announced a quarterly dividend of $0.15 per share, representing an annualized yield of 2.6% and a payout ratio of 31.41%.
• Analysts have mixed ratings on Magnolia Oil & Gas, with four giving a Buy rating, nine a Hold rating, and two a Sell rating, alongside a consensus target price of $26.42.

Boston Trust Walden Corp lifted its stake in shares of Magnolia Oil & Gas Corp (NYSE:MGY - Free Report) by 26.0% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,003,770 shares of the company's stock after buying an additional 825,162 shares during the period. Boston Trust Walden Corp owned about 2.08% of Magnolia Oil & Gas worth $90,005,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Opal Wealth Advisors LLC acquired a new position in shares of Magnolia Oil & Gas during the first quarter worth $30,000. Farther Finance Advisors LLC increased its holdings in shares of Magnolia Oil & Gas by 16.8% during the first quarter. Farther Finance Advisors LLC now owns 4,366 shares of the company's stock worth $111,000 after buying an additional 629 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Magnolia Oil & Gas by 98.6% during the second quarter. GAMMA Investing LLC now owns 5,009 shares of the company's stock worth $113,000 after buying an additional 2,487 shares in the last quarter. Smartleaf Asset Management LLC increased its holdings in shares of Magnolia Oil & Gas by 34.3% during the first quarter. Smartleaf Asset Management LLC now owns 5,072 shares of the company's stock worth $128,000 after buying an additional 1,295 shares in the last quarter. Finally, Pacer Advisors Inc. acquired a new position in shares of Magnolia Oil & Gas during the first quarter worth $136,000. 94.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on MGY. Piper Sandler increased their price objective on Magnolia Oil & Gas from $24.00 to $25.00 and gave the company a "neutral" rating in a report on Thursday, July 17th. William Blair started coverage on shares of Magnolia Oil & Gas in a research report on Monday, August 25th. They set an "outperform" rating on the stock. Citigroup reaffirmed a "sell" rating on shares of Magnolia Oil & Gas in a research report on Thursday, July 10th. Wells Fargo & Company cut their price target on shares of Magnolia Oil & Gas from $22.00 to $21.00 and set an "underweight" rating on the stock in a research report on Monday, June 16th. Finally, Mizuho cut their price objective on shares of Magnolia Oil & Gas from $26.00 to $25.00 and set a "neutral" rating on the stock in a research report on Monday, September 15th. Four equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, Magnolia Oil & Gas currently has an average rating of "Hold" and a consensus target price of $26.42.

Magnolia Oil & Gas Trading Up 3.0%

NYSE:MGY opened at $23.32 on Tuesday. 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 firm has a market cap of $4.45 billion, a price-to-earnings ratio of 12.21, a price-to-earnings-growth ratio of 2.99 and a beta of 1.24. Magnolia Oil & Gas Corp has a 52 week low of $19.09 and a 52 week high of $29.02. The firm has a 50-day moving average price of $24.00 and a two-hundred day moving average price of $23.04.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last issued its quarterly 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. Magnolia Oil & Gas had a net margin of 27.57% and a return on equity of 19.34%. The company had revenue of $318.98 million during the quarter, compared to analyst estimates of $311.58 million. During the same quarter last year, the business posted $0.51 EPS. Magnolia Oil & Gas's quarterly revenue was down 5.3% compared to the same quarter last year. On average, equities analysts expect that Magnolia Oil & Gas Corp will post 2.1 earnings per share for the current fiscal year.

Magnolia Oil & Gas Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 11th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date was Monday, August 11th. Magnolia Oil & Gas's payout ratio is currently 31.41%.

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.

Want to see what other hedge funds are holding MGY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Magnolia Oil & Gas Corp (NYSE:MGY - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.