American Century Companies Inc. Raises Stock Position in Magnolia Oil & Gas Corp $MGY

Key Points

• American Century Companies Inc. increased its stake in Magnolia Oil & Gas Corp by 5.7%, acquiring 562,223 additional shares, bringing its total ownership to over 10.5 million shares valued at approximately $265 million.
• Magnolia Oil & Gas recently reported earnings of $0.43 per share, surpassing analyst expectations, though revenue decreased by 5.3% year-over-year to $318.98 million.
• The company declared a quarterly dividend of $0.15 per share, reflecting a 2.5% yield and a payout ratio of 31.41% scheduled to be paid on September 2nd.

American Century Companies Inc. increased its stake in Magnolia Oil & Gas Corp (NYSE:MGY - Free Report) by 5.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,502,353 shares of the company's stock after buying an additional 562,223 shares during the period. American Century Companies Inc. owned 5.41% of Magnolia Oil & Gas worth $265,289,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. OneDigital Investment Advisors LLC raised its stake in Magnolia Oil & Gas by 3.0% in the fourth 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. Summit Investment Advisors Inc. raised its stake in Magnolia Oil & Gas by 3.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 18,119 shares of the company's stock worth $424,000 after buying an additional 574 shares in the last quarter. Farther Finance Advisors LLC raised its stake in Magnolia Oil & Gas by 16.8% in the first 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 grew its holdings in Magnolia Oil & Gas by 3.9% in the fourth quarter. BOKF NA now owns 19,014 shares of the company's stock worth $473,000 after purchasing an additional 713 shares during the period. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in Magnolia Oil & Gas by 4.8% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 15,470 shares of the company's stock worth $391,000 after purchasing an additional 715 shares during the period. 94.73% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on MGY. Citigroup restated a "sell" rating on shares of Magnolia Oil & Gas in a report on Thursday, July 10th. UBS Group restated a "buy" rating and issued a $29.00 price objective (up previously from $26.00) on shares of Magnolia Oil & Gas in a report on Friday, June 13th. Susquehanna cut their price objective on shares of Magnolia Oil & Gas from $31.00 to $30.00 and set a "positive" rating on the stock in a report on Tuesday, April 22nd. Bank of America upped their price objective 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, Piper Sandler upped their price objective 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. Three analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $26.67.

Magnolia Oil & Gas Stock Performance

MGY stock traded down $0.1650 on Tuesday, hitting $23.0950. The company had a trading volume of 1,852,809 shares, compared to its average volume of 2,667,185. Magnolia Oil & Gas Corp has a 12-month low of $19.09 and a 12-month high of $29.02. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.20. The stock's 50-day simple moving average is $23.54 and its 200 day simple moving average is $22.95. The stock has a market cap of $4.41 billion, a price-to-earnings ratio of 12.09, a P/E/G ratio of 3.06 and a beta of 1.31.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.03. Magnolia Oil & Gas had a net margin of 27.57% and a return on equity of 19.34%. The company had revenue of $318.98 million for the quarter, compared to analysts' expectations of $311.58 million. During the same quarter last year, the company posted $0.51 earnings per share. The firm's quarterly revenue was down 5.3% on a year-over-year basis. As a group, equities research analysts expect that Magnolia Oil & Gas Corp will post 2.1 earnings per share for the current fiscal year.

Magnolia Oil & Gas Dividend Announcement

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

About Magnolia Oil & Gas

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.