XTX Topco Ltd Invests $2.08 Million in Magnolia Oil & Gas Corp (NYSE:MGY)

Key Points

• XTX Topco Ltd has acquired a new stake in Magnolia Oil & Gas Corp, purchasing 82,366 shares valued at approximately $2,081,000 during the first quarter.
• Magnolia Oil & Gas recently announced a quarterly dividend of $0.15, with an annual yield of 2.45%, set to be paid on September 2nd.
• Wall Street analysts have mixed ratings on Magnolia Oil & Gas, with a consensus price target of $26.67, reflecting a range of price adjustments and ratings from different brokerages.

XTX Topco Ltd bought a new stake in Magnolia Oil & Gas Corp (NYSE:MGY - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 82,366 shares of the company's stock, valued at approximately $2,081,000.

Several other large investors have also modified their holdings of MGY. Opal Wealth Advisors LLC acquired a new stake in Magnolia Oil & Gas during the 1st quarter worth $30,000. Quarry LP lifted its stake in shares of Magnolia Oil & Gas by 1,047.8% in the 4th quarter. Quarry LP now owns 2,135 shares of the company's stock worth $50,000 after acquiring an additional 1,949 shares during the period. Parallel Advisors LLC lifted its stake in shares of Magnolia Oil & Gas by 122.8% in the 1st quarter. Parallel Advisors LLC now owns 2,308 shares of the company's stock worth $58,000 after acquiring an additional 1,272 shares during the period. Farther Finance Advisors LLC lifted its stake in shares of Magnolia Oil & Gas by 16.8% in the 1st quarter. Farther Finance Advisors LLC now owns 4,366 shares of the company's stock worth $111,000 after acquiring an additional 629 shares during the period. Finally, Pacer Advisors Inc. acquired a new stake in shares of Magnolia Oil & Gas in the 1st quarter worth $136,000. Institutional investors and hedge funds own 94.73% of the company's stock.

Magnolia Oil & Gas Trading Down 1.7%

Shares of NYSE MGY traded down $0.40 during midday trading on Friday, reaching $23.42. 3,700,494 shares of the stock were exchanged, compared to its average volume of 2,387,453. The company has a market capitalization 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 Corp has a 52-week low of $19.09 and a 52-week high of $29.02. The company has a current ratio of 1.44, a quick ratio of 1.33 and a debt-to-equity ratio of 0.20. The stock has a 50 day moving average price of $23.22 and a 200-day moving average price of $23.11.

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 (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts' expectations of $311.58 million. During the same period last year, the company earned $0.51 earnings per share. The company's quarterly revenue was down 5.3% on a year-over-year basis. Equities research analysts expect that Magnolia Oil & Gas Corp will post 2.1 earnings per share for the current fiscal year.

Magnolia Oil & Gas Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Monday, August 11th will be issued a dividend of $0.15 per share. The ex-dividend date is Monday, August 11th. This represents a $0.60 annualized dividend and a dividend yield of 2.6%. Magnolia Oil & Gas's payout ratio is presently 31.41%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on MGY shares. Citigroup reiterated a "sell" rating on shares of Magnolia Oil & Gas in a report on Thursday, July 10th. Wells Fargo & Company cut their price target on shares of Magnolia Oil & Gas from $22.00 to $21.00 and set an "underweight" rating for the company in a report on Monday, June 16th. Bank of America increased their price target on shares of Magnolia Oil & Gas from $23.00 to $25.00 and gave the company a "neutral" rating in a report on Friday, May 23rd. Piper Sandler increased their price target 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. Finally, Susquehanna dropped their target price on shares of Magnolia Oil & Gas from $31.00 to $30.00 and set a "positive" rating for the company in a report on Tuesday, April 22nd. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $26.67.

About Magnolia Oil & Gas

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.