Osterweis Capital Management Inc. Has $16.21 Million Stock Holdings in Magnolia Oil & Gas Corp $MGY

Key Points

• Osterweis Capital Management Inc. increased its position in Magnolia Oil & Gas Corp by 33.5% during the first quarter, acquiring 161,125 additional shares for a total worth of $16.21 million.
• Magnolia Oil & Gas announced a quarterly dividend of $0.15 per share, resulting in an annualized dividend yield of 2.6% and a payout ratio of 31.41%.
• Analysts have set a consensus price target of $26.67 for Magnolia Oil & Gas, with ratings ranging from Buy to Sell by different investment firms.

Osterweis Capital Management Inc. lifted its stake in shares of Magnolia Oil & Gas Corp (NYSE:MGY - Free Report) by 33.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 641,637 shares of the company's stock after purchasing an additional 161,125 shares during the period. Osterweis Capital Management Inc. owned approximately 0.33% of Magnolia Oil & Gas worth $16,208,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of MGY. Nuveen LLC acquired a new position in Magnolia Oil & Gas in the first quarter valued at approximately $21,066,000. Janus Henderson Group PLC lifted its holdings in Magnolia Oil & Gas by 11.7% in the fourth quarter. Janus Henderson Group PLC now owns 6,396,875 shares of the company's stock valued at $149,559,000 after buying an additional 667,973 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Magnolia Oil & Gas by 12.5% in the first quarter. Dimensional Fund Advisors LP now owns 5,365,892 shares of the company's stock valued at $135,541,000 after buying an additional 597,845 shares during the period. American Century Companies Inc. lifted its holdings in Magnolia Oil & Gas by 5.7% in the first quarter. American Century Companies Inc. now owns 10,502,353 shares of the company's stock valued at $265,289,000 after buying an additional 562,223 shares during the period. Finally, Ruffer LLP acquired a new position in Magnolia Oil & Gas in the first quarter valued at approximately $6,577,000. 94.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MGY has been the subject of several recent analyst reports. Bank of America upped their target price on shares of Magnolia Oil & Gas from $23.00 to $25.00 and gave the company a "neutral" rating in a research note on Friday, May 23rd. UBS Group reaffirmed a "buy" rating and issued a $29.00 target price (up previously from $26.00) on shares of Magnolia Oil & Gas in a research note on Friday, June 13th. Wells Fargo & Company lowered 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 research note on Monday, June 16th. Piper Sandler upped their target price on shares of Magnolia Oil & Gas from $24.00 to $25.00 and gave the company a "neutral" rating in a research note on Thursday, July 17th. Finally, Citigroup reaffirmed a "sell" rating on shares of Magnolia Oil & Gas in a research note on Thursday, July 10th. Three analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $26.67.

Magnolia Oil & Gas Stock Up 3.7%

MGY traded up $0.8680 during trading hours on Friday, hitting $24.2280. 2,261,394 shares of the company's stock were exchanged, compared to its average volume of 2,399,185. Magnolia Oil & Gas Corp has a 1-year low of $19.09 and a 1-year high of $29.02. The stock's 50-day moving average is $23.52 and its two-hundred day moving average is $22.95. The stock has a market cap of $4.62 billion, a price-to-earnings ratio of 12.68, a PEG ratio of 3.03 and a beta of 1.31. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.20.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported $0.43 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 business had revenue of $318.98 million during the quarter, compared to analysts' expectations of $311.58 million. During the same quarter in the prior year, the company posted $0.51 earnings per share. The firm's revenue was down 5.3% on a year-over-year basis. Sell-side 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 company also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Monday, August 11th will be paid a $0.15 dividend. The ex-dividend date is Monday, August 11th. This represents a $0.60 dividend on an annualized basis and a yield of 2.5%. Magnolia Oil & Gas's dividend payout ratio (DPR) is currently 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.