Magnolia Oil & Gas Corp $MGY Shares Purchased by Dimensional Fund Advisors LP

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 increased 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 & Exchange Commission. The firm owned 5,365,892 shares of the company's stock after acquiring an additional 597,845 shares during the period. Dimensional Fund Advisors LP owned approximately 2.76% of Magnolia Oil & Gas worth $135,541,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of MGY. OneDigital Investment Advisors LLC increased its stake in Magnolia Oil & Gas by 3.0% during the 4th quarter. OneDigital Investment Advisors LLC now owns 15,768 shares of the company's stock worth $369,000 after buying an additional 464 shares in the last quarter. Farther Finance Advisors LLC increased its stake in Magnolia Oil & Gas by 16.8% during the 1st quarter. Farther Finance Advisors LLC now owns 4,366 shares of the company's stock worth $111,000 after buying an additional 629 shares in the last quarter. BOKF NA increased its stake in Magnolia Oil & Gas by 3.9% during the 4th quarter. BOKF NA now owns 19,014 shares of the company's stock worth $473,000 after buying an additional 713 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in Magnolia Oil & Gas by 4.8% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 15,470 shares of the company's stock worth $391,000 after buying an additional 715 shares in the last quarter. Finally, HighTower Advisors LLC increased its stake in Magnolia Oil & Gas by 4.9% during the 1st quarter. HighTower Advisors LLC now owns 15,852 shares of the company's stock worth $400,000 after buying an additional 746 shares in the last quarter. 94.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on MGY shares. Citigroup reiterated a "sell" rating on shares of Magnolia Oil & Gas in a research note on Thursday, July 10th. Bank of America boosted their target price on Magnolia Oil & Gas from $23.00 to $25.00 and gave the stock a "neutral" rating in a report on Friday, May 23rd. Wells Fargo & Company lowered their target price 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 restated a "buy" rating and set a $29.00 target price (up from $26.00) on shares of Magnolia Oil & Gas in a report on Friday, June 13th. Finally, Piper Sandler boosted their target price on Magnolia Oil & Gas from $24.00 to $25.00 and gave the stock a "neutral" rating in a report on Thursday, July 17th. Three equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Magnolia Oil & Gas currently has an average rating of "Hold" and a consensus target price of $26.67.

Magnolia Oil & Gas Trading Up 0.8%

Shares of Magnolia Oil & Gas stock opened at $23.3350 on Friday. The stock has a market cap of $4.45 billion, a P/E ratio of 12.22, a P/E/G ratio of 3.00 and a beta of 1.31. The stock's 50 day simple moving average is $23.51 and its 200-day simple moving average is $22.95. 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.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported $0.43 EPS 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 analyst estimates 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 for the quarter was down 5.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.51 EPS. Analysts predict that Magnolia Oil & Gas Corp will post 2.1 EPS for the current fiscal year.

Magnolia Oil & Gas Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Monday, August 11th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend is Monday, August 11th. Magnolia Oil & Gas's 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.

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