Jefferies Financial Group Inc. Invests $6.50 Million 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 Magnolia Oil & Gas Corp (NYSE:MGY - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 257,454 shares of the company's stock, valued at approximately $6,503,000. Jefferies Financial Group Inc. owned about 0.13% of Magnolia Oil & Gas at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the business. Opal Wealth Advisors LLC purchased a new stake in Magnolia Oil & Gas during the 1st quarter valued at $30,000. Quarry LP lifted its holdings in shares of Magnolia Oil & Gas by 1,047.8% in the 4th quarter. Quarry LP now owns 2,135 shares of the company's stock valued at $50,000 after acquiring an additional 1,949 shares during the last quarter. Parallel Advisors LLC lifted its stake in Magnolia Oil & Gas by 122.8% in the first quarter. Parallel Advisors LLC now owns 2,308 shares of the company's stock worth $58,000 after purchasing an additional 1,272 shares during the last quarter. Farther Finance Advisors LLC increased its position in shares of Magnolia Oil & Gas by 16.8% during the first quarter. Farther Finance Advisors LLC now owns 4,366 shares of the company's stock worth $111,000 after acquiring an additional 629 shares during the period. Finally, Pacer Advisors Inc. purchased a new position in shares of Magnolia Oil & Gas during the first quarter worth approximately $136,000. 94.73% of the stock is owned by institutional investors.

Magnolia Oil & Gas Price Performance

MGY traded down $0.40 during midday trading on Friday, reaching $23.42. 3,700,494 shares of the company's stock were exchanged, compared to its average volume of 2,572,478. The stock has a market capitalization of $4.51 billion, a PE ratio of 12.26, a P/E/G ratio of 3.06 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. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.44 and a quick ratio of 1.44. The business's 50-day moving average price is $23.22 and its 200 day moving average price is $23.09.

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 (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.03. Magnolia Oil & Gas had a net margin of 27.57% and a return on equity of 19.34%. The company had revenue of $318.98 million during the quarter, compared to the consensus estimate of $311.58 million. During the same period in the previous year, the firm earned $0.51 earnings per share. Magnolia Oil & Gas's revenue for the quarter was down 5.3% on a year-over-year basis. As a group, equities analysts anticipate that Magnolia Oil & Gas Corp will post 2.1 EPS for the current fiscal year.

Magnolia Oil & Gas Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Monday, August 11th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 2.6%. The ex-dividend date is Monday, August 11th. Magnolia Oil & Gas's payout ratio is currently 31.41%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Susquehanna lowered their target price on shares of Magnolia Oil & Gas from $31.00 to $30.00 and set a "positive" rating for the company in a research note on Tuesday, April 22nd. Citigroup reaffirmed a "sell" rating on shares of Magnolia Oil & Gas in a research note on Thursday, July 10th. UBS Group restated a "buy" rating and issued a $29.00 price objective (up from $26.00) on shares of Magnolia Oil & Gas in a report on Friday, June 13th. Piper Sandler increased their target price on shares of Magnolia Oil & Gas from $24.00 to $25.00 and gave the stock a "neutral" rating in a report on Thursday, July 17th. Finally, Bank of America increased their target price on shares of Magnolia Oil & Gas from $23.00 to $25.00 and gave the company a "neutral" rating in a research report on Friday, May 23rd. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Magnolia Oil & Gas has an average rating of "Hold" and a consensus price target of $26.67.

About Magnolia Oil & Gas

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.