Quantbot Technologies LP Buys 24,427 Shares of Magnolia Oil & Gas Corp $MGY

Key Points

• Quantbot Technologies LP increased its stake in Magnolia Oil & Gas Corp by 11.8% in the first quarter, owning 231,297 shares valued at approximately $5.84 million.
• Major *institutional investors* have been actively changing their positions in Magnolia Oil & Gas, with the company now 94.73% owned by such entities.
• Magnolia Oil & Gas recently announced a quarterly dividend of $0.15 per share, resulting in an annualized yield of 2.6% and a payout ratio of 31.41%.

Quantbot Technologies LP grew its stake in Magnolia Oil & Gas Corp (NYSE:MGY - Free Report) by 11.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 231,297 shares of the company's stock after buying an additional 24,427 shares during the period. Quantbot Technologies LP owned approximately 0.12% of Magnolia Oil & Gas worth $5,843,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Opal Wealth Advisors LLC acquired a new stake in shares of Magnolia Oil & Gas in the first quarter worth about $30,000. Quarry LP lifted its position in shares of Magnolia Oil & Gas by 1,047.8% in 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 position in shares of Magnolia Oil & Gas by 122.8% in 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. Farther Finance Advisors LLC lifted its position in shares of Magnolia Oil & Gas by 16.8% during the 1st quarter. Farther Finance Advisors LLC now owns 4,366 shares of the company's stock worth $111,000 after purchasing an additional 629 shares during the last quarter. Finally, Pacer Advisors Inc. acquired a new position in shares of Magnolia Oil & Gas during the 1st quarter worth about $136,000. Institutional investors and hedge funds own 94.73% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on MGY shares. Bank of America boosted their price objective on Magnolia Oil & Gas from $23.00 to $25.00 and gave the stock a "neutral" rating in a research report on Friday, May 23rd. Citigroup reissued a "sell" rating on shares of Magnolia Oil & Gas in a research report on Thursday, July 10th. 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 research report on Friday, June 13th. Piper Sandler boosted their price objective on Magnolia Oil & Gas from $24.00 to $25.00 and gave the stock a "neutral" rating in a research report on Thursday, July 17th. Finally, Wells Fargo & Company cut their price objective on 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. 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's stock. Based on data from MarketBeat.com, Magnolia Oil & Gas presently has a consensus rating of "Hold" and a consensus price target of $26.67.

Magnolia Oil & Gas Stock Performance

Magnolia Oil & Gas stock traded up $0.8680 during trading hours on Friday, hitting $24.2280. The stock had a trading volume of 2,261,394 shares, compared to its average volume of 2,418,950. The company has a 50-day moving average of $23.52 and a two-hundred day moving average of $22.94. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.20. The company has a market cap of $4.62 billion, a PE ratio of 12.68, a price-to-earnings-growth ratio of 3.14 and a beta of 1.31. Magnolia Oil & Gas Corp has a fifty-two week low of $19.09 and a fifty-two week high of $29.02.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.40 by $0.03. The firm had revenue of $318.98 million during the quarter, compared to analysts' expectations of $311.58 million. Magnolia Oil & Gas had a return on equity of 19.34% and a net margin of 27.57%.The company's revenue for the quarter was down 5.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.51 EPS. On average, equities research analysts anticipate that Magnolia Oil & Gas Corp will post 2.1 EPS for the current fiscal year.

Magnolia Oil & Gas Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Monday, August 11th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 2.5%. The ex-dividend date is Monday, August 11th. Magnolia Oil & Gas's dividend payout ratio 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.