Nuveen LLC Invests $21.07 Million in Magnolia Oil & Gas Corp $MGY

Key Points

• Nuveen LLC acquired 833,951 shares of Magnolia Oil & Gas Corp, valued at approximately $21.07 million, increasing its ownership to 0.43% according to a recent 13F filing.
• The company reported earnings of $0.43 per share for the last quarter, surpassing the consensus estimate of $0.40, although revenue was down 5.3% year-over-year.
• Magnolia Oil & Gas announced a quarterly dividend of $0.15 per share, translating to an annualized dividend yield of 2.6%, with a payout ratio of 31.41%.

Nuveen LLC acquired a new position in shares of Magnolia Oil & Gas Corp (NYSE:MGY - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 833,951 shares of the company's stock, valued at approximately $21,066,000. Nuveen LLC owned approximately 0.43% of Magnolia Oil & Gas at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of MGY. Opal Wealth Advisors LLC bought a new position in shares of Magnolia Oil & Gas during the 1st quarter valued at approximately $30,000. Quarry LP increased its position in shares of Magnolia Oil & Gas by 1,047.8% during the 4th quarter. Quarry LP now owns 2,135 shares of the company's stock valued at $50,000 after purchasing an additional 1,949 shares during the last quarter. Parallel Advisors LLC increased its position in shares of Magnolia Oil & Gas by 122.8% during the 1st quarter. Parallel Advisors LLC now owns 2,308 shares of the company's stock valued at $58,000 after purchasing an additional 1,272 shares during the last quarter. Farther Finance Advisors LLC increased its position in shares of Magnolia Oil & Gas by 16.8% during the 1st quarter. Farther Finance Advisors LLC now owns 4,366 shares of the company's stock valued at $111,000 after purchasing an additional 629 shares during the last quarter. Finally, Pacer Advisors Inc. bought a new position in shares of Magnolia Oil & Gas during the 1st quarter valued at approximately $136,000. Institutional investors own 94.73% of the company's stock.

Magnolia Oil & Gas Trading Up 0.4%

Magnolia Oil & Gas stock traded up $0.1050 during mid-day trading on Monday, hitting $24.3550. The company's stock had a trading volume of 2,101,767 shares, compared to its average volume of 2,418,950. The company has a 50 day moving average of $23.52 and a 200-day moving average of $22.96. The stock has a market cap of $4.65 billion, a PE ratio of 12.75, a P/E/G ratio of 3.14 and a beta of 1.31. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.44 and a current ratio of 1.44. Magnolia Oil & Gas Corp has a one year low of $19.09 and a one year high of $29.02.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.40 by $0.03. Magnolia Oil & Gas had a return on equity of 19.34% and a net margin of 27.57%.The company had revenue of $318.98 million for the quarter, compared to the consensus estimate of $311.58 million. During the same quarter in the prior year, the company posted $0.51 EPS. Magnolia Oil & Gas's quarterly revenue was down 5.3% on a year-over-year basis. On average, research analysts anticipate that Magnolia Oil & Gas Corp will post 2.1 EPS for the current year.

Magnolia Oil & Gas Dividend Announcement

The company also recently declared 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. The ex-dividend date of this dividend is Monday, August 11th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.5%. Magnolia Oil & Gas's dividend payout ratio is presently 31.41%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. William Blair assumed coverage on Magnolia Oil & Gas in a research report on Monday. They set an "outperform" rating on the stock. Wells Fargo & Company cut their target price on Magnolia Oil & Gas from $22.00 to $21.00 and set an "underweight" rating on the stock in a research report on Monday, June 16th. UBS Group reissued a "buy" rating and set a $29.00 target price (up previously from $26.00) on shares of Magnolia Oil & Gas in a research report on Friday, June 13th. Bank of America boosted their target price on Magnolia Oil & Gas from $23.00 to $25.00 and gave the company a "neutral" rating in a research report on Friday, May 23rd. Finally, Piper Sandler upped their price objective on Magnolia Oil & Gas from $24.00 to $25.00 and gave the company a "neutral" rating in a research report on Thursday, July 17th. Four investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Magnolia Oil & Gas currently has an average rating of "Hold" and an average target price of $26.67.

Magnolia Oil & Gas Profile

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.