Arrowstreet Capital Limited Partnership Purchases 5,560,619 Shares of Magnolia Oil & Gas Corp $MGY

Arrowstreet Capital Limited Partnership boosted its position in shares of Magnolia Oil & Gas Corp (NYSE:MGY) by 790.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,263,808 shares of the company’s stock after acquiring an additional 5,560,619 shares during the period. Arrowstreet Capital Limited Partnership owned 3.36% of Magnolia Oil & Gas worth $197,748,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Lido Advisors LLC increased its position in shares of Magnolia Oil & Gas by 2.4% during the fourth quarter. Lido Advisors LLC now owns 16,197 shares of the company’s stock worth $382,000 after purchasing an additional 387 shares in the last quarter. Oak Family Advisors LLC increased its position in Magnolia Oil & Gas by 0.9% during the 4th quarter. Oak Family Advisors LLC now owns 47,620 shares of the company’s stock valued at $1,042,000 after buying an additional 410 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in Magnolia Oil & Gas by 10.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 4,624 shares of the company’s stock valued at $102,000 after buying an additional 422 shares during the last quarter. GAMMA Investing LLC raised its stake in Magnolia Oil & Gas by 8.0% in the fourth quarter. GAMMA Investing LLC now owns 6,130 shares of the company’s stock valued at $134,000 after buying an additional 453 shares during the last quarter. Finally, Coldstream Capital Management Inc. boosted its holdings in Magnolia Oil & Gas by 3.1% in the third quarter. Coldstream Capital Management Inc. now owns 15,937 shares of the company’s stock worth $380,000 after acquiring an additional 482 shares in the last quarter. 94.73% of the stock is currently owned by institutional investors and hedge funds.

Magnolia Oil & Gas Price Performance

Shares of MGY opened at $25.33 on Friday. The business’s 50-day moving average is $27.03 and its two-hundred day moving average is $27.42. The company has a market capitalization of $4.69 billion, a P/E ratio of 14.73 and a beta of 0.70. Magnolia Oil & Gas Corp has a fifty-two week low of $21.07 and a fifty-two week high of $32.76. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.10 and a current ratio of 1.10.

Magnolia Oil & Gas (NYSE:MGY) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.03. Magnolia Oil & Gas had a return on equity of 16.28% and a net margin of 24.40%.The business had revenue of $358.51 million during the quarter, compared to analysts’ expectations of $349.89 million. During the same quarter in the previous year, the firm posted $0.54 EPS. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. Research analysts predict that Magnolia Oil & Gas Corp will post 2.7 earnings per share for the current year.

Magnolia Oil & Gas Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Tuesday, May 12th were given a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a yield of 2.6%. The ex-dividend date was Tuesday, May 12th. Magnolia Oil & Gas’s dividend payout ratio (DPR) is currently 38.37%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on MGY. UBS Group dropped their price target on Magnolia Oil & Gas from $38.00 to $34.00 and set a “buy” rating on the stock in a research note on Friday, July 10th. Roth Capital decreased their price objective on shares of Magnolia Oil & Gas from $30.00 to $29.00 and set a “buy” rating for the company in a research report on Thursday. Wells Fargo & Company lowered their target price on shares of Magnolia Oil & Gas from $32.00 to $31.00 and set an “equal weight” rating for the company in a research note on Wednesday, May 13th. Citigroup dropped their target price on shares of Magnolia Oil & Gas from $35.00 to $32.00 and set a “neutral” rating on the stock in a research report on Monday, April 13th. Finally, Weiss Ratings lowered shares of Magnolia Oil & Gas from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, May 21st. Eight research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, Magnolia Oil & Gas presently has a consensus rating of “Hold” and an average price target of $31.42.

Magnolia Oil & Gas Company Profile

Magnolia Oil & Gas Corp (NYSE: MGY) is an independent exploration and production company focused on the acquisition, development and optimization of onshore oil and gas assets in South Texas. Headquartered in Houston, the company concentrates its efforts on the Eagle Ford Shale, where it holds significant working interests in key producing counties.

The company’s core operations center on horizontal drilling and multi-stage completions designed to extract light crude oil, natural gas and natural gas liquids (NGLs).