Woodline Partners LP Makes New $5 Million Investment in Magnolia Oil & Gas Corp $MGY

Key Points

• Woodline Partners LP has made a new investment of approximately $5 million in Magnolia Oil & Gas Corp by acquiring 198,110 shares, representing about 0.10% of the company.
• Magnolia Oil & Gas recently announced a quarterly dividend of $0.15 per share, resulting in an annualized dividend yield of 2.5%.
• Analyst ratings for Magnolia Oil & Gas show a consensus average rating of "Hold", with various price targets ranging from $21.00 to $29.00 from different financial institutions.

Woodline Partners LP bought a new stake in Magnolia Oil & Gas Corp (NYSE:MGY - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 198,110 shares of the company's stock, valued at approximately $5,004,000. Woodline Partners LP owned 0.10% of Magnolia Oil & Gas as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Opal Wealth Advisors LLC acquired a new position in shares of Magnolia Oil & Gas during the first quarter valued at about $30,000. Parallel Advisors LLC raised its holdings in shares of Magnolia Oil & Gas by 122.8% during the first quarter. Parallel Advisors LLC now owns 2,308 shares of the company's stock valued at $58,000 after purchasing an additional 1,272 shares during the period. Farther Finance Advisors LLC raised its holdings in shares of Magnolia Oil & Gas by 16.8% during the first quarter. Farther Finance Advisors LLC now owns 4,366 shares of the company's stock valued at $111,000 after purchasing an additional 629 shares during the period. Smartleaf Asset Management LLC raised its holdings in shares of Magnolia Oil & Gas by 34.3% during the first quarter. Smartleaf Asset Management LLC now owns 5,072 shares of the company's stock valued at $128,000 after purchasing an additional 1,295 shares during the period. Finally, Pacer Advisors Inc. acquired a new position in shares of Magnolia Oil & Gas during the first quarter valued at about $136,000. Institutional investors and hedge funds own 94.73% of the company's stock.

Magnolia Oil & Gas Stock Up 0.1%

MGY stock traded up $0.02 during trading on Thursday, reaching $24.70. The stock had a trading volume of 570,098 shares, compared to its average volume of 2,597,731. Magnolia Oil & Gas Corp has a one year low of $19.09 and a one year high of $29.02. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.20. The company's 50 day moving average is $23.85 and its two-hundred day moving average is $23.04. The company has a market capitalization of $4.71 billion, a price-to-earnings ratio of 12.94, a P/E/G ratio of 3.24 and a beta of 1.33.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.43 earnings per share (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 the consensus estimate of $311.58 million. During the same period in the prior year, the firm posted $0.51 EPS. The firm's quarterly revenue was down 5.3% compared to the same quarter last year. Equities research analysts forecast that Magnolia Oil & Gas Corp will post 2.1 EPS for the current year.

Magnolia Oil & Gas Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on MGY. Piper Sandler upped their price objective on shares of Magnolia Oil & Gas from $24.00 to $25.00 and gave the company a "neutral" rating in a report on Thursday, July 17th. William Blair began coverage on shares of Magnolia Oil & Gas in a report on Monday, August 25th. They set an "outperform" rating on the stock. UBS Group reiterated a "buy" rating and set a $29.00 price objective (up previously 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. Finally, Bank of America upped their target price on shares of Magnolia Oil & Gas from $23.00 to $25.00 and gave the stock a "neutral" rating in a report on Friday, May 23rd. Four equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $26.42.

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.