Hsbc Holdings PLC Makes New $506,000 Investment in Magnolia Oil & Gas Corp $MGY

Hsbc Holdings PLC acquired a new stake in Magnolia Oil & Gas Corp (NYSE:MGY) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 19,967 shares of the company’s stock, valued at approximately $506,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Opal Wealth Advisors LLC purchased a new position in shares of Magnolia Oil & Gas in the first quarter valued at approximately $30,000. Parallel Advisors LLC boosted its stake in shares of Magnolia Oil & Gas by 122.8% in the first quarter. Parallel Advisors LLC now owns 2,308 shares of the company’s stock valued at $58,000 after purchasing an additional 1,272 shares during the period. Farther Finance Advisors LLC boosted its stake in shares of Magnolia Oil & Gas by 16.8% in the first quarter. Farther Finance Advisors LLC now owns 4,366 shares of the company’s stock valued at $111,000 after purchasing an additional 629 shares during the period. Pacer Advisors Inc. purchased a new position in shares of Magnolia Oil & Gas in the first quarter valued at approximately $136,000. Finally, Bayforest Capital Ltd boosted its stake in shares of Magnolia Oil & Gas by 50.2% in the first quarter. Bayforest Capital Ltd now owns 7,960 shares of the company’s stock valued at $201,000 after purchasing an additional 2,661 shares during the period. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Magnolia Oil & Gas Stock Performance

Shares of MGY stock opened at $24.96 on Tuesday. The stock’s 50-day moving average is $23.60 and its two-hundred day moving average is $23.00. The firm has a market cap of $4.76 billion, a price-to-earnings ratio of 13.07, a PEG ratio of 3.28 and a beta of 1.33. Magnolia Oil & Gas Corp has a 1 year low of $19.09 and a 1 year high of $29.02. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.44 and a current ratio of 1.44.

Magnolia Oil & Gas (NYSE:MGY) last announced its earnings results on Wednesday, July 30th. The company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.03. The business had revenue of $318.98 million for 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 company’s quarterly revenue was down 5.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.51 EPS. Analysts predict 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. Shareholders of record on Monday, August 11th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Monday, August 11th. Magnolia Oil & Gas’s payout ratio is currently 31.41%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on MGY shares. Bank of America lifted their price target 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. UBS Group reiterated a “buy” rating and issued a $29.00 price target (up previously from $26.00) on shares of Magnolia Oil & Gas in a research note on Friday, June 13th. William Blair started coverage on shares of Magnolia Oil & Gas in a research note on Monday, August 25th. They issued an “outperform” rating for the company. Piper Sandler lifted their price target 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. 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. Four analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $26.67.

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.