Jacobs Levy Equity Management Inc. Has $1.15 Million Position in Magnolia Oil & Gas Corp $MGY

Key Points

• Jacobs Levy Equity Management Inc. significantly reduced its stake in Magnolia Oil & Gas by selling 250,315 shares, representing a decrease of 84.7%, which left them with 45,364 shares valued at approximately $1.15 million.
• Magnolia Oil & Gas reported a quarterly earnings per share of $0.43, exceeding analyst expectations of $0.40, despite a 5.3% decline in revenue year-over-year.
• The company recently declared a quarterly dividend of $0.15 per share, resulting in an annualized dividend yield of 2.5% and a payout ratio of 31.41%.

Jacobs Levy Equity Management Inc. lessened its stake in Magnolia Oil & Gas Corp (NYSE:MGY - Free Report) by 84.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 45,364 shares of the company's stock after selling 250,315 shares during the quarter. Jacobs Levy Equity Management Inc.'s holdings in Magnolia Oil & Gas were worth $1,146,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Encompass Capital Advisors LLC acquired a new position in Magnolia Oil & Gas in the first quarter valued at about $53,819,000. Jane Street Group LLC increased its holdings 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 worth $26,759,000 after acquiring an additional 987,896 shares in the last quarter. Nuveen LLC bought a new stake in shares of Magnolia Oil & Gas in the first quarter worth about $21,066,000. Dimensional Fund Advisors LP increased its holdings in shares of Magnolia Oil & Gas by 12.5% in the first quarter. Dimensional Fund Advisors LP now owns 5,365,892 shares of the company's stock worth $135,541,000 after acquiring an additional 597,845 shares in the last quarter. Finally, American Century Companies Inc. increased its holdings in shares of Magnolia Oil & Gas by 5.7% in the first quarter. American Century Companies Inc. now owns 10,502,353 shares of the company's stock worth $265,289,000 after acquiring an additional 562,223 shares in the last quarter. Institutional investors own 94.73% of the company's stock.

Magnolia Oil & Gas Price Performance

Magnolia Oil & Gas stock traded up $0.76 during mid-day trading on Tuesday, reaching $24.43. 886,603 shares of the company were exchanged, compared to its average volume of 2,602,896. The company has a fifty day simple moving average of $23.80 and a 200-day simple moving average of $23.02. The firm has a market cap of $4.66 billion, a PE ratio of 12.82, a PEG ratio of 3.14 and a beta 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 debt-to-equity ratio of 0.20, a current ratio of 1.44 and a quick ratio of 1.44.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $0.43 earnings per share 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 company had revenue of $318.98 million for the quarter, compared to the consensus estimate of $311.58 million. During the same quarter last year, the business posted $0.51 EPS. Magnolia Oil & Gas's revenue for the quarter was down 5.3% on a year-over-year basis. As a group, equities research analysts expect that Magnolia Oil & Gas Corp will post 2.1 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 Tuesday, September 2nd. Investors of record on Monday, August 11th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Monday, August 11th. This represents a $0.60 annualized dividend and a dividend yield of 2.5%. Magnolia Oil & Gas's dividend payout ratio (DPR) is 31.41%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. William Blair assumed coverage on Magnolia Oil & Gas in a report on Monday, August 25th. They issued an "outperform" rating for the company. Citigroup restated a "sell" rating on shares of Magnolia Oil & Gas in a report on Thursday, July 10th. Wells Fargo & Company lowered their price target on Magnolia Oil & Gas from $22.00 to $21.00 and set an "underweight" rating for the company in a report on Monday, June 16th. Bank of America upped their price objective on Magnolia Oil & Gas from $23.00 to $25.00 and gave the stock a "neutral" rating in a research report on Friday, May 23rd. Finally, UBS Group reaffirmed a "buy" rating and set a $29.00 price objective (up from $26.00) on shares of Magnolia Oil & Gas in a research report on Friday, June 13th. Four analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $26.42.

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.