Ruffer LLP Invests $6.58 Million in Magnolia Oil & Gas Corp (NYSE:MGY)

Ruffer LLP acquired a new position in shares of Magnolia Oil & Gas Corp (NYSE:MGY - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 260,373 shares of the company's stock, valued at approximately $6,577,000. Ruffer LLP owned about 0.13% of Magnolia Oil & Gas at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the business. R Squared Ltd increased its holdings in Magnolia Oil & Gas by 424.2% in the first quarter. R Squared Ltd now owns 9,750 shares of the company's stock worth $246,000 after purchasing an additional 7,890 shares in the last quarter. Jupiter Asset Management Ltd. bought a new stake in shares of Magnolia Oil & Gas during the first quarter valued at approximately $3,963,000. Jefferies Financial Group Inc. bought a new stake in shares of Magnolia Oil & Gas during the first quarter valued at approximately $6,503,000. Natixis Advisors LLC increased its holdings in shares of Magnolia Oil & Gas by 7.6% during the first quarter. Natixis Advisors LLC now owns 94,872 shares of the company's stock valued at $2,396,000 after acquiring an additional 6,726 shares in the last quarter. Finally, Bayforest Capital Ltd increased its holdings in shares of Magnolia Oil & Gas by 50.2% during the first quarter. Bayforest Capital Ltd now owns 7,960 shares of the company's stock valued at $201,000 after acquiring an additional 2,661 shares in the last quarter. 94.73% of the stock is currently owned by institutional investors.

Magnolia Oil & Gas Stock Down 1.7%

MGY stock opened at $23.42 on Monday. The stock's fifty day simple moving average is $23.22 and its two-hundred day simple moving average is $23.09. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.20. Magnolia Oil & Gas Corp has a 1-year low of $19.09 and a 1-year high of $29.02. The stock has a market cap of $4.51 billion, a P/E ratio of 12.26, a P/E/G ratio of 3.06 and a beta of 1.31.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.03. Magnolia Oil & Gas had a return on equity of 19.34% and a net margin of 27.57%. The business had revenue of $318.98 million for the quarter, compared to analysts' expectations of $311.58 million. During the same quarter in the previous year, the firm earned $0.51 earnings per share. The business's revenue was down 5.3% on a year-over-year basis. 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 given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend is Monday, August 11th. Magnolia Oil & Gas's dividend payout ratio is currently 31.41%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Wells Fargo & Company decreased their price objective 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. Piper Sandler lifted their target price on Magnolia Oil & Gas from $24.00 to $25.00 and gave the company a "neutral" rating in a research report on Thursday, July 17th. Citigroup reaffirmed a "sell" rating on shares of Magnolia Oil & Gas in a research report on Thursday, July 10th. Bank of America lifted their target price on 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, UBS Group reaffirmed a "buy" rating and set a $29.00 target price (up previously from $26.00) on shares of Magnolia Oil & Gas in a research report on Friday, June 13th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $26.67.

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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