Mackenzie Financial Corp Has $741,000 Position in Magnolia Oil & Gas Corp (NYSE:MGY)

Mackenzie Financial Corp increased its holdings in shares of Magnolia Oil & Gas Corp (NYSE:MGY) by 164.9% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 29,322 shares of the company’s stock after acquiring an additional 18,254 shares during the period. Mackenzie Financial Corp’s holdings in Magnolia Oil & Gas were worth $741,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the business. First Trust Advisors LP lifted its holdings in Magnolia Oil & Gas by 24.6% during the 4th quarter. First Trust Advisors LP now owns 15,410,496 shares of the company’s stock valued at $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% during the 4th quarter. Janus Henderson Group PLC now owns 6,396,875 shares of the company’s stock valued at $149,559,000 after purchasing an additional 667,973 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in Magnolia Oil & Gas by 910.5% during the 4th quarter. Renaissance Technologies LLC now owns 541,400 shares of the company’s stock valued at $12,658,000 after purchasing an additional 487,820 shares during the last quarter. Wasatch Advisors LP lifted its holdings in Magnolia Oil & Gas by 21.2% during the 4th quarter. Wasatch Advisors LP now owns 2,773,828 shares of the company’s stock valued at $64,852,000 after purchasing an additional 484,683 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Magnolia Oil & Gas during the 1st quarter valued at about $5,774,000. 94.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Piper Sandler boosted their target price on shares of Magnolia Oil & Gas from $24.00 to $25.00 and gave the stock a “neutral” rating in a research note on Thursday, July 17th. Wells Fargo & Company dropped their target price 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. Citigroup reaffirmed a “sell” rating on shares of Magnolia Oil & Gas in a research note on Thursday, July 10th. Bank of America boosted their target price on shares of Magnolia Oil & Gas from $23.00 to $25.00 and gave the stock a “neutral” rating in a research note on Friday, May 23rd. Finally, Susquehanna dropped their target price on shares of Magnolia Oil & Gas from $31.00 to $30.00 and set a “positive” rating for the company in a research note on Tuesday, April 22nd. Two 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’s stock. According to data from MarketBeat.com, Magnolia Oil & Gas has a consensus rating of “Hold” and an average target price of $26.67.

Magnolia Oil & Gas Trading Down 1.7%

MGY opened at $23.73 on Thursday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.44 and a quick ratio of 1.44. The company has a market cap of $4.57 billion, a price-to-earnings ratio of 12.42, a price-to-earnings-growth ratio of 3.12 and a beta of 1.31. The firm has a 50 day simple moving average of $23.34 and a 200 day simple moving average of $23.08. Magnolia Oil & Gas Corp has a fifty-two week low of $19.09 and a fifty-two week high of $29.02.

Magnolia Oil & Gas (NYSE:MGY) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.03. The firm had revenue of $318.98 million during the quarter, compared to analysts’ expectations of $311.58 million. Magnolia Oil & Gas had a net margin of 27.57% and a return on equity of 19.34%. The business’s revenue for the quarter was down 5.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.51 earnings per share. On average, sell-side analysts anticipate that Magnolia Oil & Gas Corp will post 2.1 earnings per share for the current year.

Magnolia Oil & Gas Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Monday, August 11th will be issued 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 yield of 2.5%. Magnolia Oil & Gas’s payout ratio is currently 31.41%.

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.