Magnolia Oil & Gas Corp (NYSE:MGY) Position Increased by Principal Financial Group Inc.

Principal Financial Group Inc. increased its holdings in Magnolia Oil & Gas Corp (NYSE:MGY - Free Report) by 5.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,427,952 shares of the company's stock after purchasing an additional 119,127 shares during the quarter. Principal Financial Group Inc. owned approximately 1.25% of Magnolia Oil & Gas worth $61,330,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of MGY. Proficio Capital Partners LLC bought a new stake in Magnolia Oil & Gas during the 4th quarter valued at approximately $292,000. Mutual of America Capital Management LLC raised its holdings in Magnolia Oil & Gas by 2.3% in the 4th quarter. Mutual of America Capital Management LLC now owns 28,937 shares of the company's stock worth $677,000 after acquiring an additional 637 shares during the last quarter. Smartleaf Asset Management LLC raised its holdings in Magnolia Oil & Gas by 95.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 3,777 shares of the company's stock worth $88,000 after acquiring an additional 1,844 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Magnolia Oil & Gas by 4.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,076,541 shares of the company's stock worth $48,550,000 after acquiring an additional 85,524 shares during the last quarter. Finally, Arizona State Retirement System raised its stake in Magnolia Oil & Gas by 4.8% during the 4th quarter. Arizona State Retirement System now owns 51,877 shares of the company's stock valued at $1,213,000 after buying an additional 2,384 shares during the last quarter. 94.73% of the stock is owned by institutional investors.

Magnolia Oil & Gas Stock Down 0.9%

Shares of NYSE:MGY traded down $0.22 during trading hours on Wednesday, reaching $23.42. The stock had a trading volume of 855,826 shares, compared to its average volume of 2,363,591. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.33 and a current ratio of 1.33. The firm's 50 day moving average is $22.60 and its 200-day moving average is $23.16. The stock has a market capitalization of $4.51 billion, a price-to-earnings ratio of 11.63, a P/E/G ratio of 3.05 and a beta of 1.28. 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 data on Wednesday, April 30th. The company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.53 by $0.02. The firm had revenue of $350.30 million during the quarter, compared to analysts' expectations of $337.83 million. Magnolia Oil & Gas had a net margin of 28.50% and a return on equity of 20.73%. The business's revenue for the quarter was up 9.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.46 earnings per share. Research analysts predict 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 was paid on Monday, June 2nd. Shareholders of record on Monday, May 12th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Monday, May 12th. This represents a $0.60 dividend on an annualized basis and a yield of 2.56%. Magnolia Oil & Gas's dividend payout ratio (DPR) is 29.85%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Wells Fargo & Company dropped their target price on shares of Magnolia Oil & Gas from $22.00 to $21.00 and set an "underweight" rating for the company in a report on Monday, June 16th. Bank of America lifted their price objective on shares of Magnolia Oil & Gas from $23.00 to $25.00 and gave the stock a "neutral" rating in a research note on Friday, May 23rd. Susquehanna cut their price objective on shares of Magnolia Oil & Gas from $31.00 to $30.00 and set a "positive" rating for the company in a report on Tuesday, April 22nd. Citigroup cut their target price on shares of Magnolia Oil & Gas from $22.00 to $19.00 and set a "sell" rating for the company in a research note on Tuesday, April 8th. Finally, UBS Group restated a "buy" rating and set a $29.00 price target (up from $26.00) on shares of Magnolia Oil & Gas in a research report on Friday, June 13th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $27.00.

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.