24,313 Shares in Magnolia Oil & Gas Corp (NYSE:MGY) Acquired by Y Intercept Hong Kong Ltd

Key Points

• Y Intercept Hong Kong Ltd acquired a new position in Magnolia Oil & Gas Corp worth approximately $614,000, purchasing 24,313 shares in the first quarter.
• Magnolia Oil & Gas announced a quarterly dividend of $0.15 per share, representing an annualized yield of 2.53% and a payout ratio of 29.85%.
• Analysts have mixed views on the stock, with a consensus rating of "Hold" and a price target averaging $26.67, reflecting recent fluctuations in valuations.

Y Intercept Hong Kong Ltd bought a new position in Magnolia Oil & Gas Corp (NYSE:MGY - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 24,313 shares of the company's stock, valued at approximately $614,000.

Several other institutional investors have also recently bought and sold shares of MGY. Opal Wealth Advisors LLC bought a new position in shares of Magnolia Oil & Gas during the 1st quarter worth about $30,000. Quarry LP boosted 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 acquiring an additional 1,949 shares in the last quarter. Parallel Advisors LLC boosted its position in shares of Magnolia Oil & Gas by 122.8% during the 1st quarter. Parallel Advisors LLC now owns 2,308 shares of the company's stock valued at $58,000 after acquiring an additional 1,272 shares in the last quarter. Farther Finance Advisors LLC boosted its position in shares of Magnolia Oil & Gas by 16.8% during the 1st quarter. Farther Finance Advisors LLC now owns 4,366 shares of the company's stock valued at $111,000 after acquiring an additional 629 shares in the last quarter. Finally, Headlands Technologies LLC acquired a new stake in shares of Magnolia Oil & Gas during the 4th quarter valued at about $161,000. Institutional investors own 94.73% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on MGY shares. Citigroup reiterated a "sell" rating on shares of Magnolia Oil & Gas in a research report on Thursday, July 10th. UBS Group reiterated a "buy" rating and set a $29.00 target price (up from $26.00) on shares of Magnolia Oil & Gas in a research report on Friday, June 13th. Susquehanna decreased their target price on shares of Magnolia Oil & Gas from $31.00 to $30.00 and set a "positive" rating on the stock in a research report on Tuesday, April 22nd. Wells Fargo & Company decreased their target price on shares of Magnolia Oil & Gas from $22.00 to $21.00 and set an "underweight" rating on the stock in a research report on Monday, June 16th. Finally, Bank of America lifted 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 report on Friday, May 23rd. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $26.67.

Magnolia Oil & Gas Price Performance

Shares of MGY stock traded down $0.08 during trading hours on Wednesday, reaching $24.52. 3,486,581 shares of the company were exchanged, compared to its average volume of 2,225,554. Magnolia Oil & Gas Corp has a fifty-two week low of $19.09 and a fifty-two week high of $29.02. The stock's fifty day moving average is $23.14 and its two-hundred day moving average is $23.16. The company has a market cap of $4.72 billion, a price-to-earnings ratio of 12.20, a P/E/G ratio of 3.21 and a beta of 1.28. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.33 and a quick ratio of 1.33.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported $0.55 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.53 by $0.02. Magnolia Oil & Gas had a net margin of 28.50% and a return on equity of 20.73%. The company had revenue of $350.30 million for the quarter, compared to analyst estimates of $337.83 million. During the same period in the prior year, the business earned $0.46 earnings per share. Magnolia Oil & Gas's quarterly revenue was up 9.7% on a year-over-year basis. Sell-side analysts forecast that Magnolia Oil & Gas Corp will post 2.1 earnings per share for the current fiscal year.

Magnolia Oil & Gas Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Monday, August 11th will be given a dividend of $0.15 per share. The ex-dividend date is Monday, August 11th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.45%. Magnolia Oil & Gas's payout ratio is 29.85%.

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.