Sciencast Management LP Invests $669,000 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) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 26,483 shares of the company's stock, valued at approximately $669,000.

A number of other institutional investors have also added to or reduced their stakes in the business. American Century Companies Inc. increased its position in 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 increased its position in 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 increased its position in 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 increased its position in 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 increased its position in 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. Hedge funds and other institutional investors own 94.73% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on MGY shares. UBS Group restated a "buy" rating and issued a $29.00 price target (up from $26.00) on shares of Magnolia Oil & Gas in a report on Friday, June 13th. Citigroup restated a "sell" rating on shares of Magnolia Oil & Gas in a report on Thursday, July 10th. Wells Fargo & Company lowered their price target on shares of Magnolia Oil & Gas from $22.00 to $21.00 and set an "underweight" rating on the stock in a report on Monday, June 16th. Bank of America lifted their target price on shares of Magnolia Oil & Gas from $23.00 to $25.00 and gave the stock a "neutral" rating in a research note on Friday, May 23rd. Finally, William Blair initiated coverage on shares of Magnolia Oil & Gas in a research note on Monday, August 25th. They issued an "outperform" rating for the company. Four investment 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. According to data from MarketBeat.com, Magnolia Oil & Gas has a consensus rating of "Hold" and an average price target of $26.67.

Magnolia Oil & Gas Stock Performance

Shares of NYSE:MGY traded down $0.33 during trading on Friday, hitting $23.81. 1,919,705 shares of the stock traded hands, compared to its average volume of 2,013,578. The company has a market cap of $4.54 billion, a price-to-earnings ratio of 12.46, a P/E/G ratio of 3.14 and a beta of 1.33. The company has a fifty day moving average price of $23.78 and a two-hundred day moving average price of $23.02. 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 Corp has a 52-week low of $19.09 and a 52-week high of $29.02.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last issued its quarterly earnings results 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 analyst estimates of $311.58 million. Magnolia Oil & Gas had a net margin of 27.57% and a return on equity of 19.34%. The firm's revenue was down 5.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.51 EPS. As a group, equities analysts predict that Magnolia Oil & Gas Corp will post 2.1 EPS for the current year.

Magnolia Oil & Gas Dividend Announcement

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