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

Key Points

• Dimensional Fund Advisors LP increased its stake in Magnolia Oil & Gas by 5.9% in the first quarter, buying an additional 394,419 shares and bringing its total to 7,028,781 shares worth about $221.9 million.
• Analyst sentiment is mixed: several firms trimmed price targets, and the stock currently carries an average “Hold” rating with a consensus target price of $31.42.
• Magnolia reported Q1 earnings of $0.54 per share, topping estimates, while also paying a quarterly dividend of $0.165 per share for a 2.6% annualized yield.

Dimensional Fund Advisors LP boosted its holdings in shares of Magnolia Oil & Gas Corp (NYSE:MGY - Free Report) by 5.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,028,781 shares of the company's stock after buying an additional 394,419 shares during the period. Dimensional Fund Advisors LP owned approximately 3.77% of Magnolia Oil & Gas worth $221,910,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Foster Victor Wealth Advisors LLC grew its holdings in Magnolia Oil & Gas by 9.2% in the fourth quarter. Foster Victor Wealth Advisors LLC now owns 417,192 shares of the company's stock valued at $9,429,000 after purchasing an additional 35,223 shares during the period. Bessemer Group Inc. increased its stake in shares of Magnolia Oil & Gas by 22.4% during the fourth quarter. Bessemer Group Inc. now owns 1,116,993 shares of the company's stock worth $24,452,000 after purchasing an additional 204,467 shares in the last quarter. Diamond Hill Capital Management Inc. increased its stake in Magnolia Oil & Gas by 210.5% during the 4th quarter. Diamond Hill Capital Management Inc. now owns 414,817 shares of the company's stock worth $9,080,000 after buying an additional 281,234 shares in the last quarter. TD Asset Management Inc boosted its stake in shares of Magnolia Oil & Gas by 26.6% in the fourth quarter. TD Asset Management Inc now owns 5,671,819 shares of the company's stock worth $124,156,000 after acquiring an additional 1,193,458 shares during the last quarter. Finally, GW&K Investment Management LLC boosted its stake in shares of Magnolia Oil & Gas by 14.6% in the fourth quarter. GW&K Investment Management LLC now owns 3,169,496 shares of the company's stock worth $69,381,000 after acquiring an additional 404,402 shares during the last quarter. Institutional investors and hedge funds own 94.73% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on MGY shares. Truist Financial decreased their target price on shares of Magnolia Oil & Gas from $34.00 to $32.00 and set a "hold" rating on the stock in a report on Tuesday, July 7th. Weiss Ratings lowered Magnolia Oil & Gas from a "hold (c+)" rating to a "hold (c)" rating in a report on Thursday, May 21st. Citigroup dropped their price target on Magnolia Oil & Gas from $35.00 to $32.00 and set a "neutral" rating on the stock in a research note on Monday, April 13th. KeyCorp reiterated an "overweight" rating on shares of Magnolia Oil & Gas in a research report on Monday, June 29th. Finally, UBS Group cut their price objective on Magnolia Oil & Gas from $38.00 to $34.00 and set a "buy" rating for the company in a research report on Friday, July 10th. Eight equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $31.42.

Magnolia Oil & Gas Price Performance

MGY stock opened at $25.78 on Friday. Magnolia Oil & Gas Corp has a 1 year low of $21.07 and a 1 year high of $32.76. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.10 and a current ratio of 1.10. The stock's 50 day moving average price is $27.11 and its 200 day moving average price is $27.43. The firm has a market cap of $4.77 billion, a P/E ratio of 14.99 and a beta of 0.70.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last announced its earnings results on Wednesday, May 6th. The company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.03. Magnolia Oil & Gas had a net margin of 24.40% and a return on equity of 16.28%. The firm had revenue of $358.51 million during the quarter, compared to the consensus estimate of $349.89 million. During the same quarter in the previous year, the company posted $0.54 EPS. The firm's revenue for the quarter was up 2.3% on a year-over-year basis. On average, sell-side analysts expect that Magnolia Oil & Gas Corp will post 2.7 earnings per share for the current fiscal year.

Magnolia Oil & Gas Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Tuesday, May 12th were paid a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend was Tuesday, May 12th. Magnolia Oil & Gas's dividend payout ratio is currently 38.37%.

Magnolia Oil & Gas Company Profile

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).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.