Putnam Investments LLC Acquires 43,578 Shares of Magnolia Oil & Gas Co. (NYSE:MGY)

Putnam Investments LLC grew its holdings in Magnolia Oil & Gas Co. (NYSE:MGY) by 8.2% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 578,108 shares of the company’s stock after purchasing an additional 43,578 shares during the quarter. Putnam Investments LLC owned approximately 0.27% of Magnolia Oil & Gas worth $12,649,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of MGY. Ameriprise Financial Inc. raised its stake in shares of Magnolia Oil & Gas by 4.6% during the 1st quarter. Ameriprise Financial Inc. now owns 69,526 shares of the company’s stock worth $1,521,000 after acquiring an additional 3,075 shares in the last quarter. American Trust raised its stake in shares of Magnolia Oil & Gas by 4.8% during the 1st quarter. American Trust now owns 13,073 shares of the company’s stock worth $286,000 after acquiring an additional 602 shares in the last quarter. SIR Capital Management L.P. bought a new position in shares of Magnolia Oil & Gas during the 1st quarter worth approximately $20,302,000. First Trust Advisors LP raised its stake in shares of Magnolia Oil & Gas by 562.8% during the 1st quarter. First Trust Advisors LP now owns 8,926,500 shares of the company’s stock worth $195,312,000 after acquiring an additional 7,579,743 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Magnolia Oil & Gas by 3.5% during the 1st quarter. Geode Capital Management LLC now owns 3,190,506 shares of the company’s stock worth $69,808,000 after acquiring an additional 108,183 shares in the last quarter. Institutional investors own 94.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on MGY. SpectralCast reiterated a “maintains” rating on shares of Magnolia Oil & Gas in a research note on Monday, May 22nd. Citigroup reduced their price objective on shares of Magnolia Oil & Gas from $25.00 to $22.00 in a research note on Sunday, May 21st. Mizuho boosted their target price on shares of Magnolia Oil & Gas from $25.00 to $26.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 6th. Piper Sandler dropped their target price on shares of Magnolia Oil & Gas from $33.00 to $29.00 in a research report on Tuesday, June 13th. Finally, Truist Financial boosted their target price on shares of Magnolia Oil & Gas from $27.00 to $29.00 and gave the stock a “buy” rating in a research report on Wednesday, September 6th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $27.50.

Magnolia Oil & Gas Stock Down 1.0 %

MGY stock opened at $23.04 on Friday. The firm’s fifty day simple moving average is $22.39 and its 200-day simple moving average is $21.38. The company has a market capitalization of $4.83 billion, a P/E ratio of 6.64 and a beta of 2.11. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.10 and a quick ratio of 3.10. Magnolia Oil & Gas Co. has a 12 month low of $18.17 and a 12 month high of $27.57.

Magnolia Oil & Gas (NYSE:MGY) last released its quarterly earnings data on Tuesday, August 1st. The company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.43 by $0.01. The business had revenue of $280.29 million for the quarter, compared to the consensus estimate of $291.74 million. Magnolia Oil & Gas had a net margin of 46.81% and a return on equity of 35.63%. As a group, equities research analysts forecast that Magnolia Oil & Gas Co. will post 2.12 earnings per share for the current year.

Magnolia Oil & Gas Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Thursday, August 10th were issued a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 2.00%. The ex-dividend date of this dividend was Wednesday, August 9th. Magnolia Oil & Gas’s dividend payout ratio (DPR) is currently 13.26%.

Magnolia Oil & Gas Company Profile

Magnolia Oil & Gas Corporation engages in the acquisition, development, exploration, and production of oil, natural gas, and natural gas liquids reserves in the United States. Its properties are located primarily in Karnes County and the Giddings area in South Texas principally comprising the Eagle Ford Shale and the Austin Chalk formation.