Osterweis Capital Management Inc. Has $16.21 Million Position 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. raised its position in Magnolia Oil & Gas Corp (NYSE:MGY - Free Report) by 33.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 641,637 shares of the company's stock after acquiring an additional 161,125 shares during the quarter. 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.

A number of other large investors have also recently added to or reduced their stakes in the company. OneDigital Investment Advisors LLC lifted 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 valued at $369,000 after acquiring an additional 464 shares during the last quarter. Farther Finance Advisors LLC lifted 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 valued at $111,000 after acquiring an additional 629 shares during the last quarter. BOKF NA lifted its stake in Magnolia Oil & Gas by 3.9% in the fourth quarter. BOKF NA now owns 19,014 shares of the company's stock valued at $473,000 after acquiring an additional 713 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake 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 acquiring an additional 715 shares during the last quarter. Finally, HighTower Advisors LLC lifted its stake in Magnolia Oil & Gas by 4.9% in the first quarter. HighTower Advisors LLC now owns 15,852 shares of the company's stock valued at $400,000 after acquiring an additional 746 shares during the last quarter. Institutional investors and hedge funds own 94.73% of the company's stock.

Analyst Ratings Changes

A number of brokerages have commented on MGY. UBS Group reiterated a "buy" rating and issued a $29.00 price target (up previously from $26.00) on shares of Magnolia Oil & Gas in a research note on Friday, June 13th. Piper Sandler increased their price target 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. Bank of America raised their target price 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. Wells Fargo & Company cut 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. Finally, Citigroup restated a "sell" rating on shares of Magnolia Oil & Gas in a research note on Thursday, July 10th. Four analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $26.67.

Magnolia Oil & Gas Stock Performance

NYSE:MGY traded up $0.0320 during mid-day trading on Monday, reaching $24.2820. 522,169 shares of the company's stock were exchanged, compared to its average volume of 2,631,953. Magnolia Oil & Gas Corp has a one year low of $19.09 and a one year high of $29.02. The firm has a market capitalization of $4.63 billion, a PE ratio of 12.74, a price-to-earnings-growth ratio of 3.14 and a beta of 1.31. The business's fifty day simple moving average is $23.52 and its two-hundred day simple moving average is $22.94. 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 (NYSE:MGY - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported $0.43 EPS for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $311.58 million. During the same period last year, the firm earned $0.51 earnings per share. Magnolia Oil & Gas's revenue for the quarter was down 5.3% compared to the same quarter last year. Analysts anticipate 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 announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Monday, August 11th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend is Monday, August 11th. 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.