Cerity Partners LLC Purchases 1,230 Shares of Magnolia Oil & Gas Corp (NYSE:MGY)

Cerity Partners LLC raised its position in Magnolia Oil & Gas Corp (NYSE:MGY) by 1.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 125,311 shares of the company’s stock after acquiring an additional 1,230 shares during the quarter. Cerity Partners LLC owned approximately 0.06% of Magnolia Oil & Gas worth $3,165,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of MGY. First Trust Advisors LP grew its stake in shares of Magnolia Oil & Gas by 24.6% in the fourth quarter. First Trust Advisors LP now owns 15,410,496 shares of the company’s stock worth $360,297,000 after purchasing an additional 3,038,709 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in Magnolia Oil & Gas by 11.7% in the 4th quarter. Janus Henderson Group PLC now owns 6,396,875 shares of the company’s stock worth $149,559,000 after buying an additional 667,973 shares during the period. Renaissance Technologies LLC lifted its holdings in Magnolia Oil & Gas by 910.5% in the 4th quarter. Renaissance Technologies LLC now owns 541,400 shares of the company’s stock worth $12,658,000 after buying an additional 487,820 shares during the period. Wasatch Advisors LP grew its position in shares of Magnolia Oil & Gas by 21.2% in the 4th quarter. Wasatch Advisors LP now owns 2,773,828 shares of the company’s stock worth $64,852,000 after buying an additional 484,683 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Magnolia Oil & Gas by 2.2% during the fourth quarter. Vanguard Group Inc. now owns 20,938,200 shares of the company’s stock valued at $489,535,000 after buying an additional 452,836 shares during the period. 94.73% of the stock is owned by institutional investors.

Magnolia Oil & Gas Stock Up 0.1%

NYSE MGY opened at $23.12 on Friday. Magnolia Oil & Gas Corp has a 52 week low of $19.09 and a 52 week high of $29.02. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $4.45 billion, a P/E ratio of 11.50, a price-to-earnings-growth ratio of 3.10 and a beta of 1.28. The stock’s 50-day moving average price is $22.95 and its 200-day moving average price is $23.17.

Magnolia Oil & Gas (NYSE:MGY) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.02. The business had revenue of $350.30 million for the quarter, compared to the consensus estimate of $337.83 million. Magnolia Oil & Gas had a net margin of 28.50% and a return on equity of 20.73%. The company’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.46 earnings per share. On average, equities research analysts predict that Magnolia Oil & Gas Corp will post 2.1 earnings per share for the current year.

Magnolia Oil & Gas Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 12th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 2.60%. The ex-dividend date of this dividend was Monday, May 12th. Magnolia Oil & Gas’s dividend payout ratio (DPR) is presently 29.85%.

Wall Street Analysts Forecast Growth

MGY has been the subject of several research reports. UBS Group reissued a “buy” rating and issued a $29.00 target price (up previously from $26.00) on shares of Magnolia Oil & Gas in a research report on Friday, June 13th. Susquehanna decreased their price objective on Magnolia Oil & Gas from $31.00 to $30.00 and set a “positive” rating for the company in a report on Tuesday, April 22nd. Piper Sandler raised their price objective on Magnolia Oil & Gas from $24.00 to $25.00 and gave the company a “neutral” rating in a research report on Thursday. Citigroup reaffirmed a “sell” rating on shares of Magnolia Oil & Gas in a research report on Thursday, July 10th. Finally, Wells Fargo & Company decreased 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 research note on Monday, June 16th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Magnolia Oil & Gas presently has an average rating of “Hold” and a consensus target price of $26.67.

Magnolia Oil & Gas Company 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.