Jefferies Financial Group Inc. Takes Position in Magnolia Oil & Gas Corp (NYSE:MGY)

Key Points

• Jefferies Financial Group Inc. has acquired a new stake in Magnolia Oil & Gas Corp, purchasing 257,454 shares valued at approximately $6.5 million, which represents about 0.13% of the company.
• Several other institutional investors have increased their holdings in Magnolia Oil & Gas, including First Trust Advisors LP which raised its stake by 24.6% and Renaissance Technologies LLC by 910.5% during the last quarter.
• The company has declared a quarterly dividend of $0.15 per share, with an annualized dividend yield of 2.6%, scheduled to be paid on September 2nd.

Jefferies Financial Group Inc. bought a new position in shares of Magnolia Oil & Gas Corp (NYSE:MGY - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 257,454 shares of the company's stock, valued at approximately $6,503,000. Jefferies Financial Group Inc. owned approximately 0.13% of Magnolia Oil & Gas at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mariner LLC raised its holdings in shares of Magnolia Oil & Gas by 1.8% in the 4th quarter. Mariner LLC now owns 43,229 shares of the company's stock valued at $1,011,000 after buying an additional 762 shares during the period. Wealth Enhancement Advisory Services LLC grew its holdings 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 purchasing an additional 715 shares during the period. Foster Victor Wealth Advisors LLC increased its holdings in Magnolia Oil & Gas by 7.1% in the 1st quarter. Foster Victor Wealth Advisors LLC now owns 336,917 shares of the company's stock valued at $8,511,000 after purchasing an additional 22,402 shares in the last quarter. GF Fund Management CO. LTD. acquired a new stake in shares of Magnolia Oil & Gas during the fourth quarter valued at about $1,370,000. Finally, Northern Trust Corp increased its stake 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 worth $45,273,000 after buying an additional 131,941 shares during the last quarter. Hedge funds and other institutional investors own 94.73% of the company's stock.

Magnolia Oil & Gas Trading Down 1.1%

Shares of MGY stock traded down $0.27 on Wednesday, reaching $23.87. The company had a trading volume of 966,143 shares, compared to its average volume of 2,705,629. The stock has a market cap of $4.59 billion, a PE ratio of 12.48, a PEG ratio of 3.08 and a beta of 1.31. The company has a 50-day moving average of $23.30 and a 200-day moving average of $23.07. 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 Corp has a 12 month low of $19.09 and a 12 month high of $29.02.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $0.43 earnings per share for the quarter, topping analysts' consensus estimates of $0.40 by $0.03. The company had revenue of $318.98 million for the quarter, compared to analysts' expectations of $311.58 million. Magnolia Oil & Gas had a net margin of 27.57% and a return on equity of 19.34%. The business's quarterly revenue was down 5.3% compared to the same quarter last year. During the same period last year, the firm posted $0.51 earnings per share. On average, equities analysts forecast that Magnolia Oil & Gas Corp will post 2.1 earnings per share for the current year.

Magnolia Oil & Gas Announces Dividend

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 paid a $0.15 dividend. The ex-dividend date of this dividend is Monday, August 11th. This represents a $0.60 dividend on an annualized basis and a yield of 2.5%. Magnolia Oil & Gas's dividend payout ratio is presently 31.41%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Susquehanna dropped their target price on shares of Magnolia Oil & Gas from $31.00 to $30.00 and set a "positive" rating on the stock in a report on Tuesday, April 22nd. Wells Fargo & Company decreased their price objective on Magnolia Oil & Gas from $22.00 to $21.00 and set an "underweight" rating on the stock in a report on Monday, June 16th. UBS Group reaffirmed a "buy" rating and issued a $29.00 price target (up previously from $26.00) on shares of Magnolia Oil & Gas in a research note on Friday, June 13th. Piper Sandler increased their price objective on Magnolia Oil & Gas from $24.00 to $25.00 and gave the stock a "neutral" rating in a research note on Thursday, July 17th. Finally, Citigroup restated a "sell" rating on shares of Magnolia Oil & Gas in a research note on Thursday, July 10th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Magnolia Oil & Gas currently has an average rating of "Hold" and an average price target of $26.67.

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.