Epoch Investment Partners Inc. Has $66.35 Million Stock Holdings in Magnolia Oil & Gas Corp $MGY

Key Points

• Epoch Investment Partners Inc. holds $66.35 million in Magnolia Oil & Gas Corp, owning 1.35% of the company after slightly reducing their position by 1.5% in the first quarter.
• The company announced a quarterly dividend of $0.15 per share, resulting in an annualized yield of 2.5%, with a dividend payout ratio of 31.41%.
• Magnolia Oil & Gas reported an earnings per share (EPS) of $0.43 for the last quarter, surpassing estimates, although their revenue reflects a year-over-year decline of 5.3%.

Epoch Investment Partners Inc. lowered its holdings in Magnolia Oil & Gas Corp (NYSE:MGY - Free Report) by 1.5% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,626,791 shares of the company's stock after selling 39,360 shares during the quarter. Epoch Investment Partners Inc. owned 1.35% of Magnolia Oil & Gas worth $66,353,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Jane Street Group LLC boosted its position in shares of Magnolia Oil & Gas by 1,382.9% in the first quarter. Jane Street Group LLC now owns 1,059,335 shares of the company's stock valued at $26,759,000 after acquiring an additional 987,896 shares during the period. Nuveen LLC acquired a new position in Magnolia Oil & Gas during the 1st quarter valued at $21,066,000. Janus Henderson Group PLC boosted its holdings in Magnolia Oil & Gas by 11.7% in the 4th quarter. Janus Henderson Group PLC now owns 6,396,875 shares of the company's stock valued at $149,559,000 after purchasing an additional 667,973 shares during the period. Dimensional Fund Advisors LP grew its position in Magnolia Oil & Gas by 12.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 5,365,892 shares of the company's stock worth $135,541,000 after purchasing an additional 597,845 shares during the last quarter. Finally, American Century Companies Inc. increased its holdings in shares of Magnolia Oil & Gas by 5.7% during the 1st quarter. American Century Companies Inc. now owns 10,502,353 shares of the company's stock worth $265,289,000 after purchasing an additional 562,223 shares during the period. 94.73% of the stock is owned by institutional investors.

Magnolia Oil & Gas Stock Down 1.0%

NYSE MGY opened at $24.14 on Wednesday. Magnolia Oil & Gas Corp has a 1-year low of $19.09 and a 1-year high of $29.02. The company has a market capitalization of $4.61 billion, a price-to-earnings ratio of 12.64, a PEG ratio of 3.16 and a beta of 1.31. The stock's 50 day moving average is $23.52 and its two-hundred day moving average is $22.96. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.20.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $0.43 EPS 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 the consensus estimate of $311.58 million. Magnolia Oil & Gas had a return on equity of 19.34% and a net margin of 27.57%.Magnolia Oil & Gas's revenue was down 5.3% on a year-over-year basis. During the same quarter last year, the company earned $0.51 EPS. Equities analysts forecast that Magnolia Oil & Gas Corp will post 2.1 earnings per share for the current fiscal year.

Magnolia Oil & Gas Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders 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 2.5%. Magnolia Oil & Gas's dividend payout ratio (DPR) is presently 31.41%.

Analyst Ratings Changes

MGY has been the subject of several research reports. Citigroup reiterated a "sell" rating on shares of Magnolia Oil & Gas in a research note on Thursday, July 10th. William Blair assumed coverage on Magnolia Oil & Gas in a research report on Monday. They issued an "outperform" rating for the company. Piper Sandler lifted their price objective on Magnolia Oil & Gas from $24.00 to $25.00 and gave the stock a "neutral" rating in a report on Thursday, July 17th. UBS Group restated a "buy" rating and issued a $29.00 target price (up from $26.00) on shares of Magnolia Oil & Gas in a research note on Friday, June 13th. Finally, Wells Fargo & Company reduced their target price 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. Four research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $26.67.

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.