Perbak Capital Partners LLP Makes New Investment in Magnolia Oil & Gas Corp $MGY

Key Points

• Perbak Capital Partners LLP invested $283,000 in Magnolia Oil & Gas Corp (NYSE:MGY), acquiring 11,185 shares during the first quarter, as reported in their 13F filing.
• Magnolia Oil & Gas declared a quarterly dividend of $0.15 per share, translating to an annualized dividend of $0.60 and a yield of 2.4%.
• Analysts have given a mixed outlook on the stock, with a current consensus rating of "Hold" and an average target price of $26.67.

Perbak Capital Partners LLP acquired a new position in Magnolia Oil & Gas Corp (NYSE:MGY - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 11,185 shares of the company's stock, valued at approximately $283,000.

A number of other institutional investors have also added to or reduced their stakes in MGY. Jane Street Group LLC grew its position in Magnolia Oil & Gas by 1,382.9% in the 1st quarter. Jane Street Group LLC now owns 1,059,335 shares of the company's stock worth $26,759,000 after purchasing an additional 987,896 shares in the last quarter. Nuveen LLC bought a new stake in Magnolia Oil & Gas in the 1st quarter worth about $21,066,000. Janus Henderson Group PLC grew its position in shares of Magnolia Oil & Gas by 11.7% during the 4th 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 during the period. Dimensional Fund Advisors LP grew its position in shares of Magnolia Oil & Gas by 12.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 5,365,892 shares of the company's stock valued at $135,541,000 after acquiring an additional 597,845 shares during the period. Finally, American Century Companies Inc. grew its position in shares of Magnolia Oil & Gas by 5.7% during the 1st quarter. American Century Companies Inc. now owns 10,502,353 shares of the company's stock valued at $265,289,000 after acquiring an additional 562,223 shares during the period. 94.73% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on MGY shares. UBS Group reissued a "buy" rating and set a $29.00 target price (up from $26.00) on shares of Magnolia Oil & Gas in a research report on Friday, June 13th. Citigroup reissued a "sell" rating on shares of Magnolia Oil & Gas in a research report on Thursday, July 10th. Wells Fargo & Company reduced 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 report on Monday, June 16th. Bank of America increased 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 report on Friday, May 23rd. Finally, William Blair started coverage on shares of Magnolia Oil & Gas in a research report on Monday, August 25th. They set an "outperform" rating for the company. 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. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $26.67.

Magnolia Oil & Gas Stock Performance

MGY traded down $1.01 on Friday, hitting $23.59. The company's stock had a trading volume of 2,008,361 shares, compared to its average volume of 1,948,264. The company's 50 day simple moving average is $23.70 and its 200-day simple moving average is $23.03. The firm has a market cap of $4.50 billion, a P/E ratio of 12.35, a price-to-earnings-growth ratio of 3.24 and a beta of 1.33. Magnolia Oil & Gas Corp has a 12 month low of $19.09 and a 12 month high of $29.02. 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 released its quarterly earnings data on Wednesday, July 30th. The company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.40 by $0.03. The company had revenue of $318.98 million during the quarter, compared to the consensus estimate of $311.58 million. Magnolia Oil & Gas had a net margin of 27.57% and a return on equity of 19.34%. Magnolia Oil & Gas's revenue for the quarter was down 5.3% on a year-over-year basis. During the same period last year, the firm earned $0.51 EPS. Analysts forecast that Magnolia Oil & Gas Corp will post 2.1 EPS for the current year.

Magnolia Oil & Gas Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 11th were issued a $0.15 dividend. The ex-dividend date of this dividend was Monday, August 11th. This represents a $0.60 annualized dividend and a yield of 2.5%. Magnolia Oil & Gas's dividend payout ratio (DPR) is 31.41%.

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.