Advisors Asset Management Inc. Increases Stock Position in Magnolia Oil & Gas Corp $MGY

Advisors Asset Management Inc. grew its stake in shares of Magnolia Oil & Gas Corp (NYSE:MGY) by 24.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 13,897 shares of the company’s stock after buying an additional 2,771 shares during the period. Advisors Asset Management Inc.’s holdings in Magnolia Oil & Gas were worth $351,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in MGY. BNP Paribas Financial Markets grew its stake in shares of Magnolia Oil & Gas by 2.2% during the 4th quarter. BNP Paribas Financial Markets now owns 131,291 shares of the company’s stock valued at $3,070,000 after buying an additional 2,799 shares during the period. Cetera Investment Advisers grew its stake in shares of Magnolia Oil & Gas by 26.4% during the 4th quarter. Cetera Investment Advisers now owns 10,852 shares of the company’s stock valued at $254,000 after buying an additional 2,265 shares during the period. Deutsche Bank AG grew its stake in shares of Magnolia Oil & Gas by 42.7% during the 4th quarter. Deutsche Bank AG now owns 187,715 shares of the company’s stock valued at $4,389,000 after buying an additional 56,161 shares during the period. Ensign Peak Advisors Inc grew its stake in shares of Magnolia Oil & Gas by 197.2% during the 4th quarter. Ensign Peak Advisors Inc now owns 214,106 shares of the company’s stock valued at $5,006,000 after buying an additional 142,067 shares during the period. Finally, Ethic Inc. boosted its position in Magnolia Oil & Gas by 18.4% during the 4th quarter. Ethic Inc. now owns 11,006 shares of the company’s stock worth $257,000 after purchasing an additional 1,713 shares during the period. 94.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently weighed in on MGY shares. Citigroup reaffirmed a “sell” rating on shares of Magnolia Oil & Gas in a research report on Thursday, July 10th. Bank of America upped 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 report on Friday, May 23rd. Piper Sandler upped 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 report on Thursday, July 17th. William Blair started coverage on shares of Magnolia Oil & Gas in a research report on Monday, August 25th. They set an “outperform” rating for the company. Finally, UBS Group reaffirmed a “buy” rating and set a $29.00 price target (up from $26.00) on shares of Magnolia Oil & Gas in a research report on Friday, June 13th. Four investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $26.67.

Magnolia Oil & Gas Stock Performance

NYSE:MGY opened at $24.13 on Friday. 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 firm has a 50-day moving average of $23.77 and a two-hundred day moving average of $23.02. The stock has a market cap of $4.60 billion, a P/E ratio of 12.63, a PEG ratio of 3.20 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.

Magnolia Oil & Gas (NYSE:MGY) last issued its earnings results 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 business had revenue of $318.98 million for the quarter, compared to analyst estimates 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 revenue for the quarter was down 5.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.51 EPS. On average, research analysts expect that Magnolia Oil & Gas Corp will post 2.1 earnings per share for the current fiscal year.

Magnolia Oil & Gas Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 11th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date was Monday, August 11th. Magnolia Oil & Gas’s dividend payout ratio is 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.