Sciencast Management LP Acquires New Position in Magnolia Oil & Gas Corp $MGY

Key Points

• Sciencast Management LP invested approximately $669,000 in Magnolia Oil & Gas Corp, acquiring 26,483 shares in the first quarter.
• The company recently announced a quarterly dividend of $0.15 per share, representing an annualized dividend yield of 2.6%.
• Magnolia Oil & Gas reported $0.43 earnings per share for the last quarter, exceeding expectations, despite a 5.3% decline in year-over-year revenue.

Sciencast Management LP bought a new stake in shares of Magnolia Oil & Gas Corp (NYSE:MGY - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 26,483 shares of the company's stock, valued at approximately $669,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. American Century Companies Inc. raised 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 purchasing an additional 562,223 shares during the period. Janus Henderson Group PLC raised 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 purchasing an additional 667,973 shares during the period. Dimensional Fund Advisors LP raised 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 purchasing an additional 597,845 shares during the period. Boston Trust Walden Corp raised its position in shares of Magnolia Oil & Gas by 2.8% during the 1st quarter. Boston Trust Walden Corp now owns 3,178,608 shares of the company's stock valued at $80,292,000 after purchasing an additional 88,021 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its position in shares of Magnolia Oil & Gas by 3.6% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,175,387 shares of the company's stock valued at $81,004,000 after purchasing an additional 110,961 shares during the period. 94.73% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

MGY has been the topic of several recent analyst reports. UBS Group restated a "buy" rating and set a $29.00 price objective (up from $26.00) on shares of Magnolia Oil & Gas in a research report on Friday, June 13th. William Blair started coverage on shares of Magnolia Oil & Gas in a research note on Monday, August 25th. They set an "outperform" rating for the company. Bank of America raised 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 note on Friday, May 23rd. Citigroup reaffirmed a "sell" rating on shares of Magnolia Oil & Gas in a research note on Thursday, July 10th. Finally, Piper Sandler raised their target price on shares of Magnolia Oil & Gas from $24.00 to $25.00 and gave the company a "neutral" rating in a research note on Thursday, July 17th. 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. Based on data from MarketBeat.com, Magnolia Oil & Gas presently has a consensus rating of "Hold" and an average target price of $26.67.

Magnolia Oil & Gas Price Performance

Shares of NYSE:MGY traded down $0.33 on Friday, reaching $23.81. The company's stock had a trading volume of 1,919,705 shares, compared to its average volume of 1,989,827. Magnolia Oil & Gas Corp has a 52-week low of $19.09 and a 52-week high of $29.02. The company has a market cap of $4.54 billion, a P/E ratio of 12.46, a PEG ratio of 3.18 and a beta of 1.33. The company has a 50-day simple moving average of $23.78 and a 200 day simple moving average of $23.02. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.44 and a current ratio of 1.44.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.43 EPS for the quarter, topping analysts' consensus estimates 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 business had revenue of $318.98 million during the quarter, compared to analysts' expectations of $311.58 million. During the same period last year, the company posted $0.51 EPS. The business's revenue was down 5.3% on a year-over-year basis. As a group, 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 company also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 11th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 2.5%. The ex-dividend date was Monday, August 11th. 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.