Magnolia Oil & Gas Corp (NYSE:MGY) Shares Acquired by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. raised its stake in Magnolia Oil & Gas Corp (NYSE:MGY - Free Report) by 3.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 421,895 shares of the company's stock after acquiring an additional 15,224 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.22% of Magnolia Oil & Gas worth $10,657,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Penserra Capital Management LLC lifted its holdings in Magnolia Oil & Gas by 100.8% in the first quarter. Penserra Capital Management LLC now owns 36,106 shares of the company's stock valued at $912,000 after acquiring an additional 18,126 shares during the period. Principal Financial Group Inc. lifted its holdings in Magnolia Oil & Gas by 5.2% in the first quarter. Principal Financial Group Inc. now owns 2,427,952 shares of the company's stock valued at $61,330,000 after acquiring an additional 119,127 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in Magnolia Oil & Gas by 3.6% in the first quarter. Allspring Global Investments Holdings LLC now owns 3,175,387 shares of the company's stock valued at $81,004,000 after acquiring an additional 110,961 shares during the period. Bessemer Group Inc. lifted its holdings in Magnolia Oil & Gas by 4.4% in the first quarter. Bessemer Group Inc. now owns 836,386 shares of the company's stock valued at $21,127,000 after acquiring an additional 35,575 shares during the period. Finally, Retirement Guys Formula LLC purchased a new stake in shares of Magnolia Oil & Gas in the first quarter valued at approximately $212,000. 94.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MGY has been the subject of a number of recent analyst reports. Susquehanna cut their price objective on Magnolia Oil & Gas from $31.00 to $30.00 and set a "positive" rating for the company in a research report on Tuesday, April 22nd. Piper Sandler boosted their price objective on Magnolia Oil & Gas from $24.00 to $25.00 and gave the company a "neutral" rating in a research report on Thursday, July 17th. Citigroup restated a "sell" rating on shares of Magnolia Oil & Gas in a research report on Thursday, July 10th. UBS Group restated a "buy" rating and issued a $29.00 price objective (up from $26.00) on shares of Magnolia Oil & Gas in a research report on Friday, June 13th. Finally, Wells Fargo & Company cut their price objective on Magnolia Oil & Gas from $22.00 to $21.00 and set an "underweight" rating for the company in a research report on Monday, June 16th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $26.67.

Magnolia Oil & Gas Price Performance

Shares of MGY traded up $0.44 during trading hours on Thursday, hitting $23.97. 1,833,156 shares of the stock were exchanged, compared to its average volume of 2,665,663. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.33 and a current ratio of 1.33. Magnolia Oil & Gas Corp has a 12-month low of $19.09 and a 12-month high of $29.02. The company has a market cap of $4.61 billion, a price-to-earnings ratio of 11.92, a price-to-earnings-growth ratio of 3.07 and a beta of 1.28. The stock's 50-day moving average price is $22.98 and its two-hundred day moving average price is $23.16.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.53 by $0.02. Magnolia Oil & Gas had a return on equity of 20.73% and a net margin of 28.50%. The firm had revenue of $350.30 million during the quarter, compared to analysts' expectations of $337.83 million. During the same period in the previous year, the business earned $0.46 earnings per share. The firm's revenue for the quarter was up 9.7% on a year-over-year basis. Research analysts expect that Magnolia Oil & Gas Corp will post 2.1 earnings per share for the current year.

Magnolia Oil & Gas Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 12th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date was Monday, May 12th. Magnolia Oil & Gas's dividend payout ratio (DPR) is presently 29.85%.

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.