Segall Bryant & Hamill LLC Acquires New Shares in Magnolia Oil & Gas Corp $MGY

Segall Bryant & Hamill LLC bought a new stake in Magnolia Oil & Gas Corp (NYSE:MGY) during the 2nd quarter, Holdings Channel reports. The fund bought 109,182 shares of the company’s stock, valued at approximately $2,454,000.

Several other institutional investors also recently modified their holdings of MGY. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Magnolia Oil & Gas by 236.2% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,190 shares of the company’s stock valued at $27,000 after acquiring an additional 836 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in Magnolia Oil & Gas during the second quarter valued at approximately $30,000. GAMMA Investing LLC grew its holdings in Magnolia Oil & Gas by 98.6% during the second quarter. GAMMA Investing LLC now owns 5,009 shares of the company’s stock valued at $113,000 after purchasing an additional 2,487 shares during the period. Smartleaf Asset Management LLC increased its stake in Magnolia Oil & Gas by 34.3% in 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 in the last quarter. Finally, Pacer Advisors Inc. acquired a new stake in Magnolia Oil & Gas in the first quarter worth $136,000. 94.73% of the stock is currently owned by institutional investors and hedge funds.

Magnolia Oil & Gas Trading Up 1.5%

MGY opened at $23.13 on Tuesday. The stock has a market capitalization of $4.36 billion, a P/E ratio of 12.92, a P/E/G ratio of 3.09 and a beta of 1.18. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.20. Magnolia Oil & Gas Corp has a 12 month low of $19.09 and a 12 month high of $28.92. The firm’s fifty day simple moving average is $23.24 and its 200 day simple moving average is $23.32.

Magnolia Oil & Gas (NYSE:MGY) last released its quarterly earnings results on Wednesday, October 29th. The company reported $0.41 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.41. The firm had revenue of $324.94 million for the quarter, compared to the consensus estimate of $322.52 million. Magnolia Oil & Gas had a return on equity of 18.10% and a net margin of 25.90%.The company’s revenue for the quarter was down 2.5% on a year-over-year basis. During the same quarter last year, the business posted $0.52 EPS. As a group, research analysts anticipate that Magnolia Oil & Gas Corp will post 2.1 EPS for the current fiscal year.

Magnolia Oil & Gas Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Monday, November 10th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Monday, November 10th. Magnolia Oil & Gas’s dividend payout ratio (DPR) is currently 33.52%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on MGY shares. William Blair began coverage on shares of Magnolia Oil & Gas in a research report on Monday, August 25th. They set an “outperform” rating on the stock. Piper Sandler dropped their price objective on Magnolia Oil & Gas from $25.00 to $23.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 18th. Weiss Ratings reissued a “hold (c)” rating on shares of Magnolia Oil & Gas in a research note on Wednesday, October 8th. KeyCorp set a $29.00 price target on Magnolia Oil & Gas and gave the stock an “overweight” rating in a report on Wednesday, October 15th. Finally, Mizuho raised their price target on Magnolia Oil & Gas from $25.00 to $26.00 and gave the stock a “neutral” rating in a research report on Thursday, October 30th. Five research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $26.25.

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.