GSA Capital Partners LLP Acquires Shares of 27,646 Magnolia Oil & Gas Corp (NYSE:MGY)

Key Points

• GSA Capital Partners LLP acquired 27,646 shares of Magnolia Oil & Gas Corp valued at approximately $698,000 in the first quarter.
• The company recently reported earnings of $0.43 per share, surpassing estimates, but saw a 5.3% decrease in revenue compared to the previous year.
• Magnolia Oil & Gas announced a quarterly dividend of $0.15 per share, reflecting a 2.6% dividend yield, with the dividend payout ratio at 31.41%.

GSA Capital Partners LLP acquired a new stake in Magnolia Oil & Gas Corp (NYSE:MGY - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 27,646 shares of the company's stock, valued at approximately $698,000.

A number of other hedge funds also recently bought and sold shares of MGY. Mariner LLC boosted its position in shares of Magnolia Oil & Gas by 1.8% during the 4th quarter. Mariner LLC now owns 43,229 shares of the company's stock worth $1,011,000 after purchasing an additional 762 shares during the period. Wealth Enhancement Advisory Services LLC lifted its position in Magnolia Oil & Gas by 4.8% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 15,470 shares of the company's stock valued at $391,000 after acquiring an additional 715 shares during the last quarter. Foster Victor Wealth Advisors LLC grew its holdings in shares of Magnolia Oil & Gas by 7.1% during the first quarter. Foster Victor Wealth Advisors LLC now owns 336,917 shares of the company's stock worth $8,511,000 after purchasing an additional 22,402 shares during the last quarter. GF Fund Management CO. LTD. acquired a new position in Magnolia Oil & Gas in the fourth quarter valued at $1,370,000. Finally, Northern Trust Corp boosted its holdings in shares of Magnolia Oil & Gas by 7.3% in the fourth quarter. Northern Trust Corp now owns 1,936,398 shares of the company's stock valued at $45,273,000 after acquiring an additional 131,941 shares in the last quarter. Institutional investors and hedge funds own 94.73% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on MGY shares. Piper Sandler lifted their target price on shares of Magnolia Oil & Gas from $24.00 to $25.00 and gave the company a "neutral" rating in a report on Thursday, July 17th. Bank of America upped their price target on shares of Magnolia Oil & Gas from $23.00 to $25.00 and gave the stock a "neutral" rating in a research report on Friday, May 23rd. UBS Group reissued a "buy" rating and issued a $29.00 price objective (up previously from $26.00) on shares of Magnolia Oil & Gas in a research report on Friday, June 13th. Susquehanna reduced their price objective on shares of Magnolia Oil & Gas from $31.00 to $30.00 and set a "positive" rating on the stock in a research note on Tuesday, April 22nd. Finally, Wells Fargo & Company dropped their price objective on shares of Magnolia Oil & Gas from $22.00 to $21.00 and set an "underweight" rating on the stock in a report on Monday, June 16th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Magnolia Oil & Gas currently has an average rating of "Hold" and a consensus price target of $26.67.

Magnolia Oil & Gas Trading Down 1.5%

Shares of MGY stock traded down $0.37 during mid-day trading on Wednesday, reaching $23.77. 1,066,768 shares of the stock traded hands, compared to its average volume of 2,706,057. The stock's fifty day simple moving average is $23.30 and its two-hundred day simple moving average is $23.07. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.20. The company has a market cap of $4.58 billion, a price-to-earnings ratio of 12.47, a price-to-earnings-growth ratio of 3.08 and a beta of 1.31. Magnolia Oil & Gas Corp has a 1-year low of $19.09 and a 1-year high of $29.02.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.40 by $0.03. Magnolia Oil & Gas had a return on equity of 19.34% and a net margin of 27.57%. The firm had revenue of $318.98 million during the quarter, compared to the consensus estimate of $311.58 million. During the same quarter in the previous year, the company posted $0.51 earnings per share. The company's quarterly revenue was down 5.3% on a year-over-year basis. On average, research analysts anticipate that Magnolia Oil & Gas Corp will post 2.1 EPS for the current fiscal year.

Magnolia Oil & Gas Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Monday, August 11th will be issued a dividend of $0.15 per share. The ex-dividend date is Monday, August 11th. This represents a $0.60 annualized dividend and a yield of 2.5%. Magnolia Oil & Gas's dividend payout ratio is currently 31.41%.

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.