Penserra Capital Management LLC Raises Position in Magnolia Oil & Gas Corp (NYSE:MGY)

Penserra Capital Management LLC grew its position in Magnolia Oil & Gas Corp (NYSE:MGY - Free Report) by 100.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 36,106 shares of the company's stock after acquiring an additional 18,126 shares during the period. Penserra Capital Management LLC's holdings in Magnolia Oil & Gas were worth $912,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of Magnolia Oil & Gas by 2.2% in the fourth quarter. Vanguard Group Inc. now owns 20,938,200 shares of the company's stock valued at $489,535,000 after acquiring an additional 452,836 shares in the last quarter. First Trust Advisors LP boosted its holdings in shares of Magnolia Oil & Gas by 24.6% in the fourth quarter. First Trust Advisors LP now owns 15,410,496 shares of the company's stock valued at $360,297,000 after acquiring an additional 3,038,709 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in shares of 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 acquiring an additional 667,973 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of Magnolia Oil & Gas by 0.5% in the fourth quarter. Wellington Management Group LLP now owns 5,020,646 shares of the company's stock valued at $117,383,000 after acquiring an additional 26,943 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Magnolia Oil & Gas by 1.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,768,047 shares of the company's stock worth $111,475,000 after buying an additional 86,166 shares in the last quarter. Hedge funds and other institutional investors own 94.73% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. UBS Group reissued a "buy" rating and set a $29.00 price objective (up previously from $26.00) on shares of Magnolia Oil & Gas in a report on Friday, June 13th. JPMorgan Chase & Co. decreased their price objective on shares of Magnolia Oil & Gas from $28.00 to $24.00 and set a "neutral" rating on the stock in a report on Thursday, March 13th. Wells Fargo & Company decreased their price objective on shares of Magnolia Oil & Gas from $22.00 to $21.00 and set an "underweight" rating on the stock in a report on Monday, June 16th. Piper Sandler decreased their price objective on shares of Magnolia Oil & Gas from $25.00 to $24.00 and set a "neutral" rating on the stock in a report on Tuesday, May 13th. Finally, Bank of America boosted their price objective on shares of Magnolia Oil & Gas from $23.00 to $25.00 and gave the stock a "neutral" rating in a report on Friday, May 23rd. 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. Based on data from MarketBeat, Magnolia Oil & Gas presently has a consensus rating of "Hold" and an average target price of $27.00.

Magnolia Oil & Gas Stock Performance

NYSE:MGY opened at $23.38 on Thursday. The firm has a 50 day simple moving average of $22.65 and a 200-day simple moving average of $23.16. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.33 and a quick ratio of 1.33. The firm has a market cap of $4.50 billion, a PE ratio of 11.63, a P/E/G ratio of 3.20 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 posted its quarterly earnings data 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 net margin of 28.50% and a return on equity of 20.73%. The business had revenue of $350.30 million during the quarter, compared to analyst estimates of $337.83 million. During the same quarter in the previous year, the business posted $0.46 earnings per share. The company's revenue was up 9.7% on a year-over-year basis. On average, equities analysts expect that Magnolia Oil & Gas Corp will post 2.1 EPS for the current year.

Magnolia Oil & Gas Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 12th were issued a $0.15 dividend. 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 2.57%. Magnolia Oil & Gas's payout ratio is 29.85%.

Magnolia Oil & Gas Company 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.

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