Penserra Capital Management LLC Has $912,000 Stock Holdings in Magnolia Oil & Gas Corp (NYSE:MGY)

Penserra Capital Management LLC increased its stake in Magnolia Oil & Gas Corp (NYSE:MGY - Free Report) by 100.8% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 36,106 shares of the company's stock after purchasing an additional 18,126 shares during the quarter. Penserra Capital Management LLC's holdings in Magnolia Oil & Gas were worth $912,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Larson Financial Group LLC lifted its holdings in Magnolia Oil & Gas by 112.3% in the 4th quarter. Larson Financial Group LLC now owns 1,072 shares of the company's stock worth $25,000 after purchasing an additional 567 shares during the last quarter. Opal Wealth Advisors LLC acquired a new position in shares of Magnolia Oil & Gas during the first quarter worth approximately $30,000. Quarry LP lifted its holdings in shares of Magnolia Oil & Gas by 1,047.8% during the fourth quarter. Quarry LP now owns 2,135 shares of the company's stock worth $50,000 after buying an additional 1,949 shares during the last quarter. Parallel Advisors LLC lifted its holdings in shares of Magnolia Oil & Gas by 122.8% during the first quarter. Parallel Advisors LLC now owns 2,308 shares of the company's stock worth $58,000 after buying an additional 1,272 shares during the last quarter. Finally, Farther Finance Advisors LLC lifted its holdings in shares of Magnolia Oil & Gas by 16.8% during the first quarter. Farther Finance Advisors LLC now owns 4,366 shares of the company's stock worth $111,000 after buying an additional 629 shares during the last quarter. 94.73% of the stock is currently owned by institutional investors and hedge funds.

Magnolia Oil & Gas Price Performance

NYSE:MGY traded up $0.17 during trading hours on Friday, reaching $23.84. The company had a trading volume of 2,120,037 shares, compared to its average volume of 2,380,739. The stock has a 50-day moving average of $22.76 and a two-hundred day moving average of $23.17. 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 $4.59 billion, a PE ratio of 11.86, a PEG ratio of 3.22 and a beta of 1.28. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.20.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.55 earnings per share for the quarter, beating analysts' consensus estimates of $0.53 by $0.02. Magnolia Oil & Gas had a return on equity of 20.73% and a net margin of 28.50%. The firm had revenue of $350.30 million for the quarter, compared to analysts' expectations of $337.83 million. During the same period in the prior year, the business posted $0.46 earnings per share. The business's revenue was up 9.7% compared to the same quarter last year. Analysts forecast that Magnolia Oil & Gas Corp will post 2.1 earnings per share for the current year.

Magnolia Oil & Gas Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 12th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 2.52%. The ex-dividend date of this dividend was Monday, May 12th. Magnolia Oil & Gas's payout ratio is presently 29.85%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on MGY. Bank of America upped their price target on Magnolia Oil & Gas from $23.00 to $25.00 and gave the stock a "neutral" rating in a report on Friday, May 23rd. UBS Group reiterated a "buy" rating and set a $29.00 price target (up from $26.00) on shares of Magnolia Oil & Gas in a report on Friday, June 13th. Piper Sandler cut their price target on Magnolia Oil & Gas from $25.00 to $24.00 and set a "neutral" rating for the company in a report on Tuesday, May 13th. Citigroup reiterated a "sell" rating on shares of Magnolia Oil & Gas in a report on Thursday. Finally, Wells Fargo & Company cut their price target on Magnolia Oil & Gas from $22.00 to $21.00 and set an "underweight" rating for the company in a report on Monday, June 16th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, Magnolia Oil & Gas presently has a consensus rating of "Hold" and an average 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.