Magnolia Oil & Gas Corp $MGY Shares Purchased by Y Intercept Hong Kong Ltd

Key Points

• Y Intercept Hong Kong Ltd increased its stake in Magnolia Oil & Gas by 481.9% in the first quarter, ending with 153,445 shares valued at about $4.84 million.
• Magnolia reported better-than-expected quarterly results, with EPS of $0.54 beating estimates and revenue of $358.51 million topping forecasts, while revenue rose 2.3% year over year.
• The company paid a quarterly dividend of $0.165 per share, annualizing to $0.66 and a 2.6% yield; analysts currently hold a “Hold” consensus with a target price of $31.33.

Y Intercept Hong Kong Ltd boosted its position in shares of Magnolia Oil & Gas Corp (NYSE:MGY - Free Report) by 481.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 153,445 shares of the company's stock after buying an additional 127,077 shares during the period. Y Intercept Hong Kong Ltd owned 0.08% of Magnolia Oil & Gas worth $4,844,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Foster Victor Wealth Advisors LLC boosted its holdings in shares of Magnolia Oil & Gas by 9.2% during the 4th quarter. Foster Victor Wealth Advisors LLC now owns 417,192 shares of the company's stock worth $9,429,000 after purchasing an additional 35,223 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Magnolia Oil & Gas by 34.8% in the third quarter. JPMorgan Chase & Co. now owns 858,972 shares of the company's stock valued at $20,504,000 after purchasing an additional 221,920 shares in the last quarter. Bessemer Group Inc. increased its holdings in shares of Magnolia Oil & Gas by 22.4% in the fourth quarter. Bessemer Group Inc. now owns 1,116,993 shares of the company's stock valued at $24,452,000 after purchasing an additional 204,467 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Magnolia Oil & Gas by 4.7% in the third quarter. Dimensional Fund Advisors LP now owns 6,369,713 shares of the company's stock valued at $152,051,000 after purchasing an additional 283,444 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. lifted its position in Magnolia Oil & Gas by 210.5% during the fourth 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. Institutional investors and hedge funds own 94.73% of the company's stock.

Magnolia Oil & Gas Price Performance

Shares of MGY opened at $25.14 on Monday. The firm has a 50-day simple moving average of $27.97 and a two-hundred day simple moving average of $27.02. The stock has a market cap of $4.65 billion, a PE ratio of 14.62 and a beta of 0.70. 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 current ratio of 1.10 and a quick ratio of 1.10.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.51 by $0.03. The firm had revenue of $358.51 million for the quarter, compared to analyst estimates of $349.89 million. Magnolia Oil & Gas had a net margin of 24.40% and a return on equity of 16.28%. The business's revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.54 EPS. As a group, analysts forecast that Magnolia Oil & Gas Corp will post 2.83 EPS for the current year.

Magnolia Oil & Gas Announces Dividend

The company 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 yield of 2.6%. The ex-dividend date was Tuesday, May 12th. Magnolia Oil & Gas's dividend payout ratio is 38.37%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Mizuho boosted their price objective on Magnolia Oil & Gas from $33.00 to $35.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 27th. Zacks Research lowered Magnolia Oil & Gas from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 19th. Weiss Ratings cut shares of Magnolia Oil & Gas from a "hold (c+)" rating to a "hold (c)" rating in a research report on Thursday, May 21st. Citigroup dropped their price objective on shares of Magnolia Oil & Gas from $35.00 to $32.00 and set a "neutral" rating for the company in a report on Monday, April 13th. Finally, KeyCorp restated an "overweight" rating on shares of Magnolia Oil & Gas in a research report on Monday, June 29th. Eight investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $31.33.

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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