Kingsview Wealth Management LLC Acquires New Position in Magnolia Oil & Gas Corp $MGY

Key Points

• Kingsview Wealth Management bought a new Q3 position of 135,739 shares of Magnolia Oil & Gas (NYSE:MGY) worth about $3.24M; institutional investors now own roughly 94.7% of the stock and TD Asset Management increased its stake to 4.48M shares (~$106.9M).
• Dividend increase: Magnolia raised its quarterly dividend to $0.165 (from $0.15), annualized $0.66 for a ~2.3% yield and a payout ratio around 38%.
• Financials and outlook: MGY has a $5.34B market cap and a P/E of 16.66, reported $0.37 EPS beating estimates by $0.01 despite revenue down 2.8% YoY, and carries a consensus "Moderate Buy" with a $27.45 target (12‑month range $19.09–$29.10).

Kingsview Wealth Management LLC bought a new position in Magnolia Oil & Gas Corp (NYSE:MGY - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 135,739 shares of the company's stock, valued at approximately $3,240,000. Kingsview Wealth Management LLC owned about 0.07% of Magnolia Oil & Gas as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Fox Run Management L.L.C. bought a new stake in shares of Magnolia Oil & Gas in the 3rd quarter worth approximately $206,000. TD Asset Management Inc increased its position in Magnolia Oil & Gas by 55.7% in the third quarter. TD Asset Management Inc now owns 4,478,361 shares of the company's stock worth $106,898,000 after buying an additional 1,601,809 shares during the period. AXQ Capital LP bought a new stake in Magnolia Oil & Gas in the third quarter valued at $205,000. Semanteon Capital Management LP bought a new stake in Magnolia Oil & Gas in the third quarter valued at $567,000. Finally, Heartland Advisors Inc. boosted its holdings in shares of Magnolia Oil & Gas by 92.1% during the third quarter. Heartland Advisors Inc. now owns 576,290 shares of the company's stock valued at $13,756,000 after acquiring an additional 276,290 shares during the period. 94.73% of the stock is owned by institutional investors.

Magnolia Oil & Gas Trading Up 0.8%

Shares of NYSE MGY opened at $28.65 on Thursday. The company has a quick ratio of 1.54, a current ratio of 1.54 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 $29.10. The company has a market cap of $5.34 billion, a price-to-earnings ratio of 16.66 and a beta of 0.89. The business has a fifty day simple moving average of $24.74 and a 200-day simple moving average of $23.79.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last posted its quarterly earnings data on Thursday, February 5th. The company reported $0.37 EPS for the quarter, beating analysts' consensus estimates of $0.36 by $0.01. Magnolia Oil & Gas had a net margin of 24.79% and a return on equity of 16.67%. The company had revenue of $317.63 million during the quarter, compared to analyst estimates of $322.18 million. During the same period in the prior year, the firm earned $0.44 earnings per share. The business's quarterly revenue was down 2.8% on a year-over-year basis. Sell-side analysts predict that Magnolia Oil & Gas Corp will post 2.1 EPS for the current year.

Magnolia Oil & Gas Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 2nd. Stockholders of record on Tuesday, February 10th were issued a $0.165 dividend. The ex-dividend date was Tuesday, February 10th. This is an increase from Magnolia Oil & Gas's previous quarterly dividend of $0.15. This represents a $0.66 dividend on an annualized basis and a dividend yield of 2.3%. Magnolia Oil & Gas's dividend payout ratio is currently 38.37%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on MGY shares. BMO Capital Markets began coverage on shares of Magnolia Oil & Gas in a research report on Friday, January 9th. They issued an "outperform" rating and a $27.00 price objective on the stock. Zacks Research raised Magnolia Oil & Gas from a "strong sell" rating to a "hold" rating in a report on Wednesday, February 11th. UBS Group reiterated a "buy" rating and set a $29.00 price objective on shares of Magnolia Oil & Gas in a research report on Friday, January 9th. Benchmark restated a "hold" rating on shares of Magnolia Oil & Gas in a research report on Wednesday, January 21st. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Magnolia Oil & Gas in a research report on Thursday, January 22nd. Eight research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $27.45.

About Magnolia Oil & Gas

Magnolia Oil & Gas Corp NYSE: MGY is an independent exploration and production company focused on the acquisition, development and optimization of onshore oil and gas assets in South Texas. Headquartered in Houston, the company concentrates its efforts on the Eagle Ford Shale, where it holds significant working interests in key producing counties.

The company's core operations center on horizontal drilling and multi-stage completions designed to extract light crude oil, natural gas and natural gas liquids (NGLs).

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