Magnolia Oil & Gas Corp $MGY Shares Acquired by Trexquant Investment LP

Key Points

• Trexquant Investment LP increased its stake in Magnolia Oil & Gas by 246.7%, owning 291,615 shares valued at approximately $7.37 million.
• The stock has a consensus rating of "Hold" from analysts, with an average target price of $26.67.
• Magnolia Oil & Gas recently declared a quarterly dividend of $0.15, which represents an annualized yield of 2.4%.

Trexquant Investment LP grew its stake in shares of Magnolia Oil & Gas Corp (NYSE:MGY - Free Report) by 246.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 291,615 shares of the company's stock after acquiring an additional 207,494 shares during the quarter. Trexquant Investment LP owned about 0.15% of Magnolia Oil & Gas worth $7,366,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of MGY. Susquehanna International Group LLP increased its holdings in shares of Magnolia Oil & Gas by 86.9% during the fourth quarter. Susquehanna International Group LLP now owns 150,512 shares of the company's stock valued at $3,519,000 after acquiring an additional 69,995 shares in the last quarter. Voya Investment Management LLC boosted its position in Magnolia Oil & Gas by 1.8% in the 4th quarter. Voya Investment Management LLC now owns 56,232 shares of the company's stock worth $1,315,000 after purchasing an additional 1,019 shares in the last quarter. Quarry LP lifted its position in shares of Magnolia Oil & Gas by 1,047.8% during the 4th quarter. Quarry LP now owns 2,135 shares of the company's stock valued at $50,000 after buying an additional 1,949 shares in the last quarter. Tudor Investment Corp ET AL lifted its holdings in Magnolia Oil & Gas by 37.7% in the 4th quarter. Tudor Investment Corp ET AL now owns 103,098 shares of the company's stock valued at $2,410,000 after purchasing an additional 28,206 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in Magnolia Oil & Gas by 7.3% in the 4th quarter. Northern Trust Corp now owns 1,936,398 shares of the company's stock valued at $45,273,000 after purchasing an additional 131,941 shares in the last quarter. Institutional investors and hedge funds own 94.73% of the company's stock.

Analyst Upgrades and Downgrades

MGY has been the topic of several analyst reports. UBS Group reiterated a "buy" rating and set a $29.00 price target (up previously from $26.00) on shares of Magnolia Oil & Gas in a report on Friday, June 13th. Piper Sandler lifted their price target on Magnolia Oil & Gas from $24.00 to $25.00 and gave the stock a "neutral" rating in a report on Thursday, July 17th. Wells Fargo & Company reduced their price target on Magnolia Oil & Gas from $22.00 to $21.00 and set an "underweight" rating on the stock in a report on Monday, June 16th. Citigroup reiterated a "sell" rating on shares of Magnolia Oil & Gas in a report on Thursday, July 10th. Finally, William Blair assumed coverage on shares of Magnolia Oil & Gas in a report on Monday, August 25th. They issued an "outperform" rating on the stock. Four investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $26.67.

Magnolia Oil & Gas Trading Up 2.1%

NYSE MGY traded up $0.50 during trading on Thursday, hitting $24.55. The stock had a trading volume of 1,407,720 shares, compared to its average volume of 2,629,849. The company has a market capitalization of $4.68 billion, a PE ratio of 12.85, a PEG ratio of 3.28 and a beta of 1.33. 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 firm has a 50 day moving average price of $23.66 and a 200 day moving average price of $23.02. Magnolia Oil & Gas Corp has a twelve month low of $19.09 and a twelve month high of $29.02.

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

Magnolia Oil & Gas Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 11th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Monday, August 11th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.4%. Magnolia Oil & Gas's payout ratio is currently 31.41%.

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.