Mackenzie Financial Corp Acquires 18,254 Shares of Magnolia Oil & Gas Corp (NYSE:MGY)

Mackenzie Financial Corp grew its position in Magnolia Oil & Gas Corp (NYSE:MGY - Free Report) by 164.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 29,322 shares of the company's stock after buying an additional 18,254 shares during the period. Mackenzie Financial Corp's holdings in Magnolia Oil & Gas were worth $741,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. First Trust Advisors LP boosted its stake in 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 worth $360,297,000 after purchasing an additional 3,038,709 shares during the period. Janus Henderson Group PLC boosted its stake in Magnolia Oil & Gas by 11.7% in the 4th 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 during the period. Renaissance Technologies LLC boosted its stake in shares of Magnolia Oil & Gas by 910.5% during the 4th quarter. Renaissance Technologies LLC now owns 541,400 shares of the company's stock worth $12,658,000 after buying an additional 487,820 shares during the last quarter. Wasatch Advisors LP boosted its stake in shares of Magnolia Oil & Gas by 21.2% during the 4th quarter. Wasatch Advisors LP now owns 2,773,828 shares of the company's stock worth $64,852,000 after buying an additional 484,683 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Magnolia Oil & Gas during the 1st quarter worth about $5,774,000. Institutional investors and hedge funds own 94.73% of the company's stock.

Analyst Upgrades and Downgrades

MGY has been the subject of a number of recent research reports. Wells Fargo & Company reduced their price objective on shares of Magnolia Oil & Gas from $22.00 to $21.00 and set an "underweight" rating for the company in a research note on Monday, June 16th. UBS Group restated 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 increased their price objective on shares of Magnolia Oil & Gas from $24.00 to $25.00 and gave the stock a "neutral" rating in a research note on Thursday, July 17th. Citigroup restated a "sell" rating on shares of Magnolia Oil & Gas in a research note on Thursday, July 10th. Finally, Bank of America increased their price objective on shares of Magnolia Oil & Gas from $23.00 to $25.00 and gave the stock a "neutral" rating in a research note on Friday, May 23rd. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $26.67.

Magnolia Oil & Gas Stock Performance

Shares of MGY stock traded up $0.12 on Friday, reaching $23.50. The stock had a trading volume of 1,994,421 shares, compared to its average volume of 2,670,873. The firm has a market capitalization of $4.52 billion, a price-to-earnings ratio of 12.30, a P/E/G ratio of 3.04 and a beta of 1.31. The company has a quick ratio of 1.44, a current 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. The firm's 50-day moving average is $23.41 and its two-hundred day moving average is $23.02.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last released its quarterly earnings results 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. The firm 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 revenue was down 5.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.51 EPS. On average, research analysts expect that Magnolia Oil & Gas Corp will post 2.1 EPS for the current fiscal year.

Magnolia Oil & Gas Dividend Announcement

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

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.