First Trust Advisors LP Purchases 101,178 Shares of Magnolia Oil & Gas Corp $MGY

First Trust Advisors LP grew its position in shares of Magnolia Oil & Gas Corp (NYSE:MGY - Free Report) by 11.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 976,356 shares of the company's stock after buying an additional 101,178 shares during the period. First Trust Advisors LP owned approximately 0.52% of Magnolia Oil & Gas worth $30,824,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. AQR Capital Management LLC grew its stake in shares of Magnolia Oil & Gas by 77.7% in the first quarter. AQR Capital Management LLC now owns 56,346 shares of the company's stock valued at $1,423,000 after acquiring an additional 24,631 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake 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 worth $2,605,000 after purchasing an additional 4,512 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings 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 valued at $6,135,000 after purchasing an additional 18,447 shares during the period. Intech Investment Management LLC boosted its holdings 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 purchasing an additional 7,008 shares during the period. Finally, EverSource Wealth Advisors LLC grew its position in shares of Magnolia Oil & Gas by 165.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,386 shares of the company's stock worth $31,000 after purchasing an additional 864 shares in the last quarter. Institutional investors and hedge funds own 94.73% of the company's stock.

Analysts Set New Price Targets

MGY has been the topic of several recent research reports. Susquehanna raised their target price on shares of Magnolia Oil & Gas from $35.00 to $36.00 and gave the stock a "positive" rating in a report on Tuesday, July 21st. Roth Capital reduced their price target on Magnolia Oil & Gas from $30.00 to $29.00 and set a "buy" rating on the stock in a research report on Thursday, July 23rd. Truist Financial upgraded Magnolia Oil & Gas from a "hold" rating to a "buy" rating and raised their price objective for the stock from $32.00 to $33.00 in a research note on Tuesday. Wells Fargo & Company dropped their price objective on Magnolia Oil & Gas from $32.00 to $31.00 and set an "equal weight" rating for the company in a report on Wednesday, May 13th. Finally, Weiss Ratings downgraded Magnolia Oil & Gas from a "hold (c+)" rating to a "hold (c)" rating in a research report on Thursday, May 21st. Nine equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Magnolia Oil & Gas presently has a consensus rating of "Moderate Buy" and an average price target of $31.50.

Magnolia Oil & Gas Price Performance

MGY stock opened at $23.46 on Wednesday. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.19. Magnolia Oil & Gas Corp has a 12 month low of $21.07 and a 12 month high of $32.76. The firm has a market cap of $4.34 billion, a P/E ratio of 13.64 and a beta of 0.70. The company's 50-day moving average price is $26.77 and its two-hundred day moving average price is $27.49.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $0.54 earnings per share for the quarter, topping analysts' consensus estimates of $0.51 by $0.03. The company had revenue of $358.51 million during the quarter, compared to the consensus estimate of $349.89 million. Magnolia Oil & Gas had a net margin of 24.40% and a return on equity of 16.28%. The firm's quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.54 EPS. On average, analysts anticipate that Magnolia Oil & Gas Corp will post 2.69 earnings per share for the current fiscal year.

Magnolia Oil & Gas Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Tuesday, May 12th were given a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a yield of 2.8%. The ex-dividend date was Tuesday, May 12th. Magnolia Oil & Gas's payout ratio is currently 38.37%.

About Magnolia Oil & Gas

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).

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