Dimensional Fund Advisors LP Purchases 283,444 Shares of Magnolia Oil & Gas Corp $MGY

Key Points

• Dimensional Fund Advisors LP increased its stake in Magnolia Oil & Gas (NYSE:MGY) by 283,444 shares (a 4.7% rise), bringing its holdings to 6,369,713 shares — about a 3.38% position valued at $152.05 million.
• Institutional ownership is very high at 94.73%, with other large managers including AQR, UBS and Bank of New York Mellon also boosting positions in recent quarters.
• Magnolia beat quarterly EPS estimates ($0.37 vs. $0.36), reported slightly lower revenue year-over-year, raised its quarterly dividend to $0.165 (annualized $0.66, ~2.3% yield), and the stock carries a consensus "Hold" rating with a $28.18 target.

Dimensional Fund Advisors LP increased its holdings in shares of Magnolia Oil & Gas Corp (NYSE:MGY - Free Report) by 4.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,369,713 shares of the company's stock after acquiring an additional 283,444 shares during the period. Dimensional Fund Advisors LP owned about 3.38% of Magnolia Oil & Gas worth $152,051,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. AQR Capital Management LLC lifted its position in Magnolia Oil & Gas by 77.7% during the 1st quarter. AQR Capital Management LLC now owns 56,346 shares of the company's stock worth $1,423,000 after buying an additional 24,631 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Magnolia Oil & Gas by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 103,109 shares of the company's stock valued at $2,605,000 after acquiring an additional 4,512 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Magnolia Oil & Gas by 8.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 242,880 shares of the company's stock worth $6,135,000 after purchasing an additional 18,447 shares during the last quarter. Intech Investment Management LLC boosted its position in Magnolia Oil & Gas by 11.3% in the 1st quarter. Intech Investment Management LLC now owns 68,814 shares of the company's stock valued at $1,738,000 after buying an additional 7,008 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in Magnolia Oil & Gas by 0.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,737,475 shares of the company's stock valued at $39,058,000 after buying an additional 14,248 shares during the last quarter. 94.73% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Zacks Research upgraded Magnolia Oil & Gas from a "strong sell" rating to a "hold" rating in a research report on Wednesday, February 11th. Piper Sandler upped their target price on shares of Magnolia Oil & Gas from $26.00 to $28.00 and gave the company a "neutral" rating in a research report on Thursday, March 5th. Siebert Williams Shank lowered Magnolia Oil & Gas from a "buy" rating to a "hold" rating in a research report on Friday, March 6th. KeyCorp lifted their price objective on Magnolia Oil & Gas from $29.00 to $30.00 and gave the stock an "overweight" rating in a research note on Monday, February 9th. Finally, Roth Mkm reissued a "buy" rating on shares of Magnolia Oil & Gas in a research note on Tuesday, February 10th. Eight analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $28.18.

Magnolia Oil & Gas Trading Down 1.1%

Shares of NYSE:MGY opened at $28.74 on Wednesday. The firm has a market cap of $5.36 billion, a price-to-earnings ratio of 16.71 and a beta of 0.89. Magnolia Oil & Gas Corp has a 12 month low of $19.09 and a 12 month high of $29.74. The company's fifty day simple moving average is $25.31 and its 200 day simple moving average is $23.95. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 0.20.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last released its earnings results on Thursday, February 5th. The company reported $0.37 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.36 by $0.01. The firm had revenue of $317.63 million during the quarter, compared to analysts' expectations of $322.18 million. Magnolia Oil & Gas had a return on equity of 16.67% and a net margin of 24.79%.The company's revenue was down 2.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.44 EPS. As a group, research analysts forecast that Magnolia Oil & Gas Corp will post 2.1 EPS for the current fiscal year.

Magnolia Oil & Gas Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 2nd. Investors of record on Tuesday, February 10th were given a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 2.3%. This is an increase from Magnolia Oil & Gas's previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Tuesday, February 10th. Magnolia Oil & Gas's payout ratio is 38.37%.

Magnolia Oil & Gas Profile

Magnolia Oil & Gas Corp NYSE: MGY is an independent exploration and production company focused on the acquisition, development and optimization of onshore oil and gas assets in South Texas. Headquartered in Houston, the company concentrates its efforts on the Eagle Ford Shale, where it holds significant working interests in key producing counties.

The company's core operations center on horizontal drilling and multi-stage completions designed to extract light crude oil, natural gas and natural gas liquids (NGLs).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.