Choreo LLC purchased a new position in Magnolia Oil & Gas Corp (NYSE:MGY - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 10,778 shares of the company's stock, valued at approximately $272,000.
A number of other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in shares of Magnolia Oil & Gas by 2.2% in the fourth quarter. Vanguard Group Inc. now owns 20,938,200 shares of the company's stock valued at $489,535,000 after purchasing an additional 452,836 shares during the period. First Trust Advisors LP increased its stake in Magnolia Oil & Gas by 24.6% in the fourth quarter. First Trust Advisors LP now owns 15,410,496 shares of the company's stock valued at $360,297,000 after purchasing an additional 3,038,709 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Magnolia Oil & Gas by 11.7% during the fourth quarter. Janus Henderson Group PLC now owns 6,396,875 shares of the company's stock worth $149,559,000 after purchasing an additional 667,973 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Magnolia Oil & Gas by 0.5% during the fourth quarter. Wellington Management Group LLP now owns 5,020,646 shares of the company's stock worth $117,383,000 after purchasing an additional 26,943 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in Magnolia Oil & Gas by 1.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,768,047 shares of the company's stock valued at $111,475,000 after acquiring an additional 86,166 shares during the period. Hedge funds and other institutional investors own 94.73% of the company's stock.
Magnolia Oil & Gas Stock Performance
Shares of MGY traded down $0.40 during mid-day trading on Friday, reaching $23.42. The company's stock had a trading volume of 3,700,494 shares, compared to its average volume of 2,387,453. Magnolia Oil & Gas Corp has a 1-year low of $19.09 and a 1-year high of $29.02. The stock has a market cap of $4.51 billion, a P/E ratio of 12.26, a PEG ratio of 3.11 and a beta of 1.31. The business has a 50-day simple moving average of $23.22 and a two-hundred day simple moving average of $23.13. The company has a current ratio of 1.44, a quick ratio of 1.33 and a debt-to-equity ratio of 0.20.
Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.03. The business had revenue of $318.98 million during 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 firm'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 EPS. As a group, equities research analysts anticipate 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 declared 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 of this dividend is Monday, August 11th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.6%. Magnolia Oil & Gas's payout ratio is 31.41%.
Wall Street Analysts Forecast Growth
Several research analysts have recently issued reports on the company. UBS Group reaffirmed a "buy" rating and set a $29.00 price target (up previously from $26.00) on shares of Magnolia Oil & Gas in a research note on Friday, June 13th. Piper Sandler boosted their target price on shares of Magnolia Oil & Gas from $24.00 to $25.00 and gave the company a "neutral" rating in a research note on Thursday, July 17th. Susquehanna cut their target price 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. Wells Fargo & Company cut their target price 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. Finally, Citigroup reissued a "sell" rating on shares of Magnolia Oil & Gas in a research note on Thursday, July 10th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $26.67.
Read Our Latest Stock Analysis on MGY
About Magnolia Oil & Gas
(
Free Report)
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.
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