Magnolia Oil & Gas Corp $MGY Shares Acquired by American Century Companies Inc.

American Century Companies Inc. increased its position in Magnolia Oil & Gas Corp (NYSE:MGY) by 0.2% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 11,887,655 shares of the company’s stock after purchasing an additional 26,424 shares during the period. American Century Companies Inc. owned 6.30% of Magnolia Oil & Gas worth $283,758,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in MGY. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Magnolia Oil & Gas by 236.2% in the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,190 shares of the company’s stock valued at $27,000 after buying an additional 836 shares during the last quarter. Mather Group LLC. acquired a new position in shares of Magnolia Oil & Gas in the 3rd quarter valued at $31,000. EverSource Wealth Advisors LLC raised its position in Magnolia Oil & Gas by 165.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,386 shares of the company’s stock valued at $31,000 after purchasing an additional 864 shares during the last quarter. Geneos Wealth Management Inc. raised its position in Magnolia Oil & Gas by 90.5% in the 2nd quarter. Geneos Wealth Management Inc. now owns 2,212 shares of the company’s stock valued at $50,000 after purchasing an additional 1,051 shares during the last quarter. Finally, Nisa Investment Advisors LLC boosted its stake in Magnolia Oil & Gas by 31.5% during the 3rd quarter. Nisa Investment Advisors LLC now owns 3,003 shares of the company’s stock worth $72,000 after purchasing an additional 720 shares during the period. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Magnolia Oil & Gas Stock Up 1.6%

Shares of NYSE:MGY opened at $27.80 on Friday. The stock has a 50-day simple moving average of $24.33 and a 200-day simple moving average of $23.69. Magnolia Oil & Gas Corp has a 1 year low of $19.09 and a 1 year high of $27.96. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.54 and a current ratio of 1.54. The stock has a market capitalization of $5.18 billion, a P/E ratio of 16.16 and a beta of 0.96.

Magnolia Oil & Gas (NYSE:MGY) last released its quarterly earnings results on Thursday, February 5th. The company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.01. Magnolia Oil & Gas had a net margin of 24.79% and a return on equity of 16.67%. The business had revenue of $317.63 million during the quarter, compared to analyst estimates of $322.18 million. During the same period last year, the business earned $0.44 EPS. The business’s revenue was down 2.8% on a year-over-year basis. Equities analysts forecast that Magnolia Oil & Gas Corp will post 2.1 earnings per share for the current year.

Magnolia Oil & Gas Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 2nd. Stockholders of record on Tuesday, February 10th will be paid a $0.165 dividend. This is a boost from Magnolia Oil & Gas’s previous quarterly dividend of $0.15. The ex-dividend date is Tuesday, February 10th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 2.4%. Magnolia Oil & Gas’s dividend payout ratio (DPR) is currently 38.37%.

Analyst Upgrades and Downgrades

MGY has been the subject of a number of research reports. Piper Sandler upped their target price on shares of Magnolia Oil & Gas from $23.00 to $26.00 and gave the company a “neutral” rating in a report on Tuesday, February 10th. Weiss Ratings restated a “hold (c)” rating on shares of Magnolia Oil & Gas in a research report on Thursday, January 22nd. Citigroup upped their price objective on shares of Magnolia Oil & Gas from $25.00 to $29.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 18th. Mizuho set a $30.00 price target on shares of Magnolia Oil & Gas in a research report on Friday, February 6th. Finally, Wells Fargo & Company set a $25.00 price target on Magnolia Oil & Gas in a report on Monday, February 16th. Eight investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $27.58.

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).