Quantbot Technologies LP Acquires 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 boosted its stake in shares of Magnolia Oil & Gas Corp (NYSE:MGY - Free Report) by 11.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 231,297 shares of the company's stock after purchasing an additional 24,427 shares during the quarter. Quantbot Technologies LP owned about 0.12% of Magnolia Oil & Gas worth $5,843,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Mariner LLC boosted its stake in Magnolia Oil & Gas by 1.8% in the 4th quarter. Mariner LLC now owns 43,229 shares of the company's stock valued at $1,011,000 after purchasing an additional 762 shares during the period. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Magnolia Oil & Gas by 4.8% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 15,470 shares of the company's stock worth $391,000 after buying an additional 715 shares in the last quarter. Foster Victor Wealth Advisors LLC boosted its position in shares of Magnolia Oil & Gas by 7.1% in the first quarter. Foster Victor Wealth Advisors LLC now owns 336,917 shares of the company's stock valued at $8,511,000 after acquiring an additional 22,402 shares during the period. GF Fund Management CO. LTD. acquired a new position in shares of Magnolia Oil & Gas in the fourth quarter valued at about $1,370,000. Finally, Northern Trust Corp grew its stake in shares of Magnolia Oil & Gas by 7.3% in the fourth quarter. Northern Trust Corp now owns 1,936,398 shares of the company's stock valued at $45,273,000 after acquiring an additional 131,941 shares in the last quarter. 94.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on MGY shares. Bank of America boosted their price objective on shares of Magnolia Oil & Gas from $23.00 to $25.00 and gave the company a "neutral" rating in a report on Friday, May 23rd. Citigroup reiterated a "sell" rating on shares of Magnolia Oil & Gas in a research report on Thursday, July 10th. 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 research note on Monday, June 16th. UBS Group reissued a "buy" rating and set a $29.00 price target (up previously from $26.00) on shares of Magnolia Oil & Gas in a research report on Friday, June 13th. Finally, Piper Sandler lifted their price objective on Magnolia Oil & Gas from $24.00 to $25.00 and gave the company a "neutral" rating in a report on Thursday, July 17th. Three research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $26.67.

Magnolia Oil & Gas Price Performance

Shares of MGY traded up $0.1750 during mid-day trading on Thursday, reaching $23.3350. The company had a trading volume of 908,576 shares, compared to its average volume of 2,445,394. The company has a market capitalization of $4.45 billion, a price-to-earnings ratio of 12.22, a P/E/G ratio of 3.00 and a beta of 1.31. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.44 and a current ratio of 1.44. The company's 50 day simple moving average is $23.51 and its 200 day simple moving average is $22.95. 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 announced its quarterly earnings results on Wednesday, July 30th. The company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $318.98 million during the quarter, compared to the consensus estimate of $311.58 million. During the same period in the prior year, the business earned $0.51 earnings per share. The company's revenue for the quarter was down 5.3% compared to the same quarter last year. Analysts expect that Magnolia Oil & Gas Corp will post 2.1 EPS for the current year.

Magnolia Oil & Gas Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Monday, August 11th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 2.6%. The ex-dividend date is Monday, August 11th. Magnolia Oil & Gas's payout ratio is 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.