Jackson Creek Investment Advisors LLC Purchases New Position in Magnolia Oil & Gas Corp (NYSE:MGY)

Jackson Creek Investment Advisors LLC bought a new position in shares of Magnolia Oil & Gas Corp (NYSE:MGY - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 62,310 shares of the company's stock, valued at approximately $1,574,000.

Other institutional investors have also added to or reduced their stakes in the company. First Trust Advisors LP raised its stake in shares of Magnolia Oil & Gas by 24.6% in the 4th quarter. First Trust Advisors LP now owns 15,410,496 shares of the company's stock valued at $360,297,000 after buying an additional 3,038,709 shares in the last quarter. Janus Henderson Group PLC raised its position in Magnolia Oil & Gas by 11.7% in the fourth quarter. Janus Henderson Group PLC now owns 6,396,875 shares of the company's stock worth $149,559,000 after purchasing an additional 667,973 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Magnolia Oil & Gas in the fourth quarter worth about $13,634,000. Renaissance Technologies LLC lifted its stake in Magnolia Oil & Gas by 910.5% during the fourth quarter. Renaissance Technologies LLC now owns 541,400 shares of the company's stock worth $12,658,000 after purchasing an additional 487,820 shares during the period. Finally, Wasatch Advisors LP boosted its holdings in Magnolia Oil & Gas by 21.2% during the fourth quarter. Wasatch Advisors LP now owns 2,773,828 shares of the company's stock valued at $64,852,000 after purchasing an additional 484,683 shares in the last quarter. 94.73% of the stock is owned by institutional investors and hedge funds.

Magnolia Oil & Gas Trading Up 0.1%

Shares of NYSE MGY traded up $0.02 during midday trading on Friday, hitting $23.12. The stock had a trading volume of 2,599,778 shares, compared to its average volume of 2,384,815. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.33 and a quick ratio of 1.33. Magnolia Oil & Gas Corp has a fifty-two week low of $19.09 and a fifty-two week high of $29.02. The firm has a market cap of $4.45 billion, a P/E ratio of 11.50, a price-to-earnings-growth ratio of 3.10 and a beta of 1.28. The company's 50-day simple moving average is $22.95 and its 200 day simple moving average is $23.17.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $0.55 EPS for the quarter, topping analysts' consensus estimates 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 analyst estimates of $337.83 million. During the same period last year, the company earned $0.46 earnings per share. The company's revenue was up 9.7% on a year-over-year basis. Research analysts anticipate that Magnolia Oil & Gas Corp will post 2.1 EPS for the current year.

Magnolia Oil & Gas Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 12th were issued a $0.15 dividend. The ex-dividend date was Monday, May 12th. This represents a $0.60 annualized dividend and a yield of 2.60%. Magnolia Oil & Gas's dividend payout ratio is currently 29.85%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Bank of America increased their target price on Magnolia Oil & Gas from $23.00 to $25.00 and gave the stock a "neutral" rating in a report on Friday, May 23rd. UBS Group reiterated a "buy" rating and set a $29.00 price objective (up from $26.00) on shares of Magnolia Oil & Gas in a research note on Friday, June 13th. Piper Sandler boosted their target price on shares of Magnolia Oil & Gas from $24.00 to $25.00 and gave the company a "neutral" rating in a research note on Thursday. Citigroup reiterated a "sell" rating on shares of Magnolia Oil & Gas in a research report on Thursday, July 10th. Finally, Wells Fargo & Company reduced their price target on shares of Magnolia Oil & Gas from $22.00 to $21.00 and set an "underweight" rating on the stock in a research report on Monday, June 16th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Magnolia Oil & Gas currently has a consensus rating of "Hold" and an average target price of $27.08.

Magnolia Oil & Gas 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.