Dimensional Fund Advisors LP Has $135.54 Million Stock Holdings in Magnolia Oil & Gas Corp $MGY

Key Points

• Dimensional Fund Advisors LP has increased its holdings in Magnolia Oil & Gas Corp by 12.5%, acquiring an additional 597,845 shares, which brings their total ownership to approximately 2.76% of the company valued at $135.5 million.
• The company recently announced a quarterly dividend of $0.15 per share, representing a 2.6% dividend yield, with the payout date scheduled for September 2nd.
• Analysts have mixed ratings on the stock, with a consensus average rating of "Hold" and a target price of $26.67, though some firms, such as UBS Group, maintain a "buy" rating" with a target price increased to $29.00.

Dimensional Fund Advisors LP grew its holdings in shares of Magnolia Oil & Gas Corp (NYSE:MGY - Free Report) by 12.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,365,892 shares of the company's stock after purchasing an additional 597,845 shares during the quarter. Dimensional Fund Advisors LP owned about 2.76% of Magnolia Oil & Gas worth $135,541,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Janus Henderson Group PLC raised its holdings in shares of Magnolia Oil & Gas by 11.7% during the 4th quarter. Janus Henderson Group PLC now owns 6,396,875 shares of the company's stock valued at $149,559,000 after purchasing an additional 667,973 shares in the last quarter. Boston Trust Walden Corp raised its holdings in shares of Magnolia Oil & Gas by 2.8% during the 1st quarter. Boston Trust Walden Corp now owns 3,178,608 shares of the company's stock valued at $80,292,000 after purchasing an additional 88,021 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Magnolia Oil & Gas by 3.6% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,175,387 shares of the company's stock valued at $81,004,000 after purchasing an additional 110,961 shares in the last quarter. Systematic Financial Management LP raised its holdings in shares of Magnolia Oil & Gas by 3.9% during the 4th quarter. Systematic Financial Management LP now owns 3,033,275 shares of the company's stock valued at $70,918,000 after purchasing an additional 113,257 shares in the last quarter. Finally, Principal Financial Group Inc. raised its holdings in Magnolia Oil & Gas by 5.2% in the 1st quarter. Principal Financial Group Inc. now owns 2,427,952 shares of the company's stock worth $61,330,000 after acquiring an additional 119,127 shares during the period. Institutional investors own 94.73% of the company's stock.

Analysts Set New Price Targets

MGY has been the topic of several recent analyst reports. William Blair initiated coverage on shares of Magnolia Oil & Gas in a report on Monday. They issued an "outperform" rating on the stock. Piper Sandler lifted 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. Wells Fargo & Company dropped their target price on shares of Magnolia Oil & Gas from $22.00 to $21.00 and set an "underweight" rating on the stock in a report on Monday, June 16th. Bank of America lifted their target price on shares of Magnolia Oil & Gas from $23.00 to $25.00 and gave the stock a "neutral" rating in a report on Friday, May 23rd. Finally, UBS Group reiterated a "buy" rating and issued a $29.00 target price (up previously from $26.00) on shares of Magnolia Oil & Gas in a report on Friday, June 13th. Four equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $26.67.

Magnolia Oil & Gas Stock Performance

Shares of NYSE:MGY traded up $0.61 on Wednesday, hitting $24.75. 2,246,814 shares of the company were exchanged, compared to its average volume of 2,395,099. The company's 50 day moving average price is $23.53 and its two-hundred day moving average price is $22.98. Magnolia Oil & Gas Corp has a one year low of $19.09 and a one year high of $29.02. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.44 and a current ratio of 1.44. The firm has a market capitalization of $4.72 billion, a price-to-earnings ratio of 12.96, a PEG ratio of 3.16 and a beta of 1.31.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $0.43 earnings per share for the quarter, beating analysts' consensus estimates of $0.40 by $0.03. The business 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 firm's revenue for the quarter was down 5.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.51 earnings per share. Research analysts expect that Magnolia Oil & Gas Corp will post 2.1 earnings per share for the current year.

Magnolia Oil & Gas Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Monday, August 11th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Monday, August 11th. Magnolia Oil & Gas's dividend payout ratio is presently 31.41%.

Magnolia Oil & Gas 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.