Magnolia Oil & Gas Corp (NYSE:MGY) Shares Purchased by Mitsubishi UFJ Asset Management UK Ltd.

Key Points

• Mitsubishi UFJ Asset Management UK Ltd. increased its stake in Magnolia Oil & Gas by 74.4% during the first quarter, now holding 68,000 shares valued at approximately $1.7 million.
• Magnolia Oil & Gas reported $0.43 earnings per share (EPS) for the last quarter, exceeding analysts' expectations of $0.40, although revenue decreased by 5.3% year-over-year.
• The company announced a quarterly dividend of $0.15 per share, representing a 2.5% dividend yield with a payout ratio of 31.41%.

Mitsubishi UFJ Asset Management UK Ltd. lifted its position in Magnolia Oil & Gas Corp (NYSE:MGY - Free Report) by 74.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 68,000 shares of the company's stock after acquiring an additional 29,000 shares during the period. Magnolia Oil & Gas accounts for approximately 0.9% of Mitsubishi UFJ Asset Management UK Ltd.'s investment portfolio, making the stock its 25th biggest holding. Mitsubishi UFJ Asset Management UK Ltd.'s holdings in Magnolia Oil & Gas were worth $1,718,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Mariner LLC increased its position in shares of Magnolia Oil & Gas by 1.8% in the 4th quarter. Mariner LLC now owns 43,229 shares of the company's stock valued at $1,011,000 after acquiring an additional 762 shares during the period. Wealth Enhancement Advisory Services LLC boosted 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 valued at $391,000 after purchasing an additional 715 shares during the last quarter. Foster Victor Wealth Advisors LLC boosted its holdings in Magnolia Oil & Gas by 7.1% in the first quarter. Foster Victor Wealth Advisors LLC now owns 336,917 shares of the company's stock valued at $8,511,000 after purchasing an additional 22,402 shares during the last quarter. GF Fund Management CO. LTD. purchased a new stake in Magnolia Oil & Gas in the fourth quarter valued at $1,370,000. Finally, Northern Trust Corp boosted its stake in shares of Magnolia Oil & Gas by 7.3% during the 4th quarter. Northern Trust Corp now owns 1,936,398 shares of the company's stock worth $45,273,000 after acquiring an additional 131,941 shares in the last quarter. 94.73% of the stock is owned by institutional investors and hedge funds.

Magnolia Oil & Gas Stock Up 0.9%

Shares of NYSE MGY opened at $23.91 on Thursday. The company has a 50 day simple moving average of $23.49 and a 200-day simple moving average of $22.99. The company has a market capitalization of $4.56 billion, a P/E ratio of 12.52, a P/E/G ratio of 3.06 and a beta of 1.31. 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 Corp has a 1 year low of $19.09 and a 1 year high of $29.02.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $0.43 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.40 by $0.03. The business had revenue of $318.98 million during the quarter, compared to the consensus estimate 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 was down 5.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.51 EPS. On average, equities research analysts predict that Magnolia Oil & Gas Corp will post 2.1 earnings per share for the current year.

Magnolia Oil & Gas Dividend Announcement

The company also recently disclosed 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 2.5%. The ex-dividend date of this dividend is Monday, August 11th. Magnolia Oil & Gas's payout ratio is 31.41%.

Wall Street Analysts Forecast Growth

MGY has been the topic of several recent analyst reports. Wells Fargo & Company lowered 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 research note on Monday, June 16th. Piper Sandler upped their price target on shares of Magnolia Oil & Gas from $24.00 to $25.00 and gave the stock a "neutral" rating in a research report on Thursday, July 17th. Citigroup restated a "sell" rating on shares of Magnolia Oil & Gas in a research report on Thursday, July 10th. Bank of America upped their price target on shares of Magnolia Oil & Gas from $23.00 to $25.00 and gave the stock a "neutral" rating in a research report on Friday, May 23rd. Finally, UBS Group reiterated 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. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Magnolia Oil & Gas currently has an average rating of "Hold" and a consensus target price of $26.67.

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.

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