Quantinno Capital Management LP increased its position in shares of Magnolia Oil & Gas Corp (NYSE:MGY – Free Report) by 355.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 135,229 shares of the company’s stock after purchasing an additional 105,532 shares during the quarter. Quantinno Capital Management LP’s holdings in Magnolia Oil & Gas were worth $4,269,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of the company. Lido Advisors LLC grew its holdings in shares of Magnolia Oil & Gas by 2.4% during the fourth quarter. Lido Advisors LLC now owns 16,197 shares of the company’s stock valued at $382,000 after buying an additional 387 shares during the last quarter. Oak Family Advisors LLC raised its holdings in shares of Magnolia Oil & Gas by 0.9% in the 4th quarter. Oak Family Advisors LLC now owns 47,620 shares of the company’s stock worth $1,042,000 after acquiring an additional 410 shares during the last quarter. Smartleaf Asset Management LLC lifted its position in Magnolia Oil & Gas by 10.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 4,624 shares of the company’s stock valued at $102,000 after acquiring an additional 422 shares in the last quarter. Coldstream Capital Management Inc. lifted its position in Magnolia Oil & Gas by 3.1% in the 3rd quarter. Coldstream Capital Management Inc. now owns 15,937 shares of the company’s stock valued at $380,000 after acquiring an additional 482 shares in the last quarter. Finally, Stifel Financial Corp boosted its stake in Magnolia Oil & Gas by 1.6% during the 4th quarter. Stifel Financial Corp now owns 36,980 shares of the company’s stock valued at $809,000 after purchasing an additional 585 shares during the last quarter. 94.73% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of brokerages have commented on MGY. KeyCorp reissued an “overweight” rating on shares of Magnolia Oil & Gas in a report on Monday, June 29th. Wells Fargo & Company decreased their price target on Magnolia Oil & Gas from $32.00 to $31.00 and set an “equal weight” rating for the company in a report on Wednesday, May 13th. Truist Financial raised Magnolia Oil & Gas from a “hold” rating to a “buy” rating and increased their price target for the company from $32.00 to $33.00 in a research report on Tuesday, July 28th. Wall Street Zen upgraded Magnolia Oil & Gas from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, Weiss Ratings lowered shares of Magnolia Oil & Gas from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, May 21st. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $31.50.
Magnolia Oil & Gas Stock Performance
MGY stock opened at $25.07 on Friday. The firm has a market cap of $4.64 billion, a PE ratio of 10.99 and a beta of 0.72. The company has a quick ratio of 1.10, a current ratio of 1.58 and a debt-to-equity ratio of 0.18. The business has a 50 day moving average of $26.19 and a 200-day moving average of $27.59. Magnolia Oil & Gas Corp has a 12-month low of $21.07 and a 12-month high of $32.76.
Magnolia Oil & Gas (NYSE:MGY – Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.99 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.06. Magnolia Oil & Gas had a return on equity of 21.04% and a net margin of 28.77%.The business had revenue of $478.81 million for the quarter, compared to analyst estimates of $458.10 million. During the same period last year, the company posted $0.41 earnings per share. Magnolia Oil & Gas’s quarterly revenue was up 50.1% compared to the same quarter last year. As a group, sell-side analysts expect that Magnolia Oil & Gas Corp will post 2.78 earnings per share for the current year.
Magnolia Oil & Gas Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Monday, August 10th will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Monday, August 10th. This represents a $0.72 annualized dividend and a dividend yield of 2.9%. This is a boost from Magnolia Oil & Gas’s previous quarterly dividend of $0.17. Magnolia Oil & Gas’s payout ratio is 38.37%.
About Magnolia Oil & Gas
Magnolia Oil & Gas Corp (NYSE: MGY) is an independent exploration and production company focused on the acquisition, development and optimization of onshore oil and gas assets in South Texas. Headquartered in Houston, the company concentrates its efforts on the Eagle Ford Shale, where it holds significant working interests in key producing counties.
The company’s core operations center on horizontal drilling and multi-stage completions designed to extract light crude oil, natural gas and natural gas liquids (NGLs).
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