Charles Schwab Investment Management Inc. Grows Position in Magnolia Oil & Gas Corp $MGY

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Magnolia Oil & Gas Corp by 11.5%, owning a total of 2,315,012 shares valued at approximately $58.48 million.
• Magnolia Oil & Gas reported $0.43 earnings per share for the last quarter, surpassing expectations of $0.40; however, revenue decreased by 5.3% compared to the previous year.
• The company recently announced a quarterly dividend of $0.15 per share, with a dividend yield of 2.5% and a payout ratio of 31.41%.

Charles Schwab Investment Management Inc. lifted its stake in Magnolia Oil & Gas Corp (NYSE:MGY - Free Report) by 11.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,315,012 shares of the company's stock after purchasing an additional 238,471 shares during the period. Charles Schwab Investment Management Inc. owned 1.19% of Magnolia Oil & Gas worth $58,477,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. LPL Financial LLC raised its holdings in Magnolia Oil & Gas by 55.8% during the fourth quarter. LPL Financial LLC now owns 32,102 shares of the company's stock worth $751,000 after acquiring an additional 11,493 shares in the last quarter. Wells Fargo & Company MN raised its stake in shares of Magnolia Oil & Gas by 22.8% during the fourth quarter. Wells Fargo & Company MN now owns 259,038 shares of the company's stock valued at $6,056,000 after acquiring an additional 48,145 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in Magnolia Oil & Gas by 2.6% during the fourth quarter. Envestnet Asset Management Inc. now owns 406,671 shares of the company's stock worth $9,508,000 after buying an additional 10,327 shares during the last quarter. Bank of Montreal Can raised its stake in Magnolia Oil & Gas by 6.9% during the fourth quarter. Bank of Montreal Can now owns 40,309 shares of the company's stock worth $942,000 after buying an additional 2,596 shares during the last quarter. Finally, Summit Investment Advisors Inc. grew its holdings in Magnolia Oil & Gas by 3.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 18,119 shares of the company's stock worth $424,000 after purchasing an additional 574 shares during the period. 94.73% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on MGY shares. Wells Fargo & Company dropped 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. Susquehanna cut their price objective on shares of Magnolia Oil & Gas from $31.00 to $30.00 and set a "positive" rating for the company in a research note on Tuesday, April 22nd. Piper Sandler upped their price target 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 reaffirmed a "sell" rating on shares of Magnolia Oil & Gas in a research report on Thursday, July 10th. Finally, UBS Group reissued a "buy" rating and set a $29.00 price objective (up from $26.00) on shares of Magnolia Oil & Gas in a research report on Friday, June 13th. Three investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $26.67.

Magnolia Oil & Gas Price Performance

Shares of Magnolia Oil & Gas stock traded down $0.2150 on Tuesday, hitting $23.0450. 760,981 shares of the company traded hands, compared to its average volume of 2,659,470. The stock has a market capitalization of $4.40 billion, a P/E ratio of 12.07, a price-to-earnings-growth ratio of 3.06 and a beta of 1.31. 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 Corp has a 52 week low of $19.09 and a 52 week high of $29.02. The business has a 50-day simple moving average of $23.54 and a 200 day simple moving average of $22.95.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $0.43 earnings per share for the quarter, beating analysts' consensus estimates of $0.40 by $0.03. The firm had revenue of $318.98 million during the quarter, compared to analyst estimates 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 for the quarter was down 5.3% compared to the same quarter last year. During the same period last year, the firm posted $0.51 earnings per share. Research analysts expect that Magnolia Oil & Gas Corp will post 2.1 earnings per share 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. Stockholders of record on Monday, August 11th will be issued a dividend of $0.15 per share. The ex-dividend date is Monday, August 11th. This represents a $0.60 annualized dividend and a dividend yield of 2.6%. Magnolia Oil & Gas's dividend payout ratio is 31.41%.

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.