First Trust Advisors LP Has $47.19 Million Stock Holdings in Magnolia Oil & Gas Corp $MGY

First Trust Advisors LP decreased its holdings in Magnolia Oil & Gas Corp (NYSE:MGY) by 23.9% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 2,099,340 shares of the company’s stock after selling 657,988 shares during the period. First Trust Advisors LP’s holdings in Magnolia Oil & Gas were worth $47,193,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Campbell & CO Investment Adviser LLC increased its position in Magnolia Oil & Gas by 325.0% during the 2nd quarter. Campbell & CO Investment Adviser LLC now owns 214,211 shares of the company’s stock valued at $4,815,000 after purchasing an additional 163,804 shares during the period. Jane Street Group LLC boosted its stake in shares of Magnolia Oil & Gas by 1,382.9% in the 1st quarter. Jane Street Group LLC now owns 1,059,335 shares of the company’s stock valued at $26,759,000 after purchasing an additional 987,896 shares during the last quarter. Phocas Financial Corp. boosted its stake in shares of Magnolia Oil & Gas by 69.0% in the 2nd quarter. Phocas Financial Corp. now owns 189,378 shares of the company’s stock valued at $4,257,000 after purchasing an additional 77,327 shares during the last quarter. Nordea Investment Management AB increased its position in shares of Magnolia Oil & Gas by 1.0% during the second quarter. Nordea Investment Management AB now owns 444,636 shares of the company’s stock worth $10,062,000 after buying an additional 4,372 shares during the period. Finally, American Century Companies Inc. raised its stake in Magnolia Oil & Gas by 12.9% during the second quarter. American Century Companies Inc. now owns 11,861,231 shares of the company’s stock worth $266,641,000 after buying an additional 1,358,878 shares during the last quarter. 94.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on MGY. Mizuho lifted their price objective on Magnolia Oil & Gas from $25.00 to $26.00 and gave the stock a “neutral” rating in a research report on Thursday, October 30th. Weiss Ratings reiterated a “hold (c)” rating on shares of Magnolia Oil & Gas in a report on Wednesday, October 8th. KeyCorp set a $29.00 price target on Magnolia Oil & Gas and gave the stock an “overweight” rating in a report on Wednesday, October 15th. Piper Sandler reduced their price objective on shares of Magnolia Oil & Gas from $25.00 to $23.00 and set a “neutral” rating for the company in a research report on Tuesday, November 18th. Finally, William Blair initiated coverage on shares of Magnolia Oil & Gas in a research report on Monday, August 25th. They set an “outperform” rating on the stock. Five analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $26.25.

Magnolia Oil & Gas Stock Performance

NYSE MGY opened at $23.10 on Tuesday. The company has a fifty day moving average price of $22.97 and a 200-day moving average price of $23.37. The firm has a market cap of $4.36 billion, a price-to-earnings ratio of 12.91, a PEG ratio of 3.17 and a beta of 0.93. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.47 and a quick ratio of 1.47. Magnolia Oil & Gas Corp has a 1 year low of $19.09 and a 1 year high of $26.84.

Magnolia Oil & Gas (NYSE:MGY) last issued its quarterly earnings results on Wednesday, October 29th. The company reported $0.41 EPS for the quarter, meeting analysts’ consensus estimates of $0.41. Magnolia Oil & Gas had a return on equity of 18.10% and a net margin of 25.90%.The company had revenue of $324.94 million during the quarter, compared to the consensus estimate of $322.52 million. During the same period last year, the business posted $0.52 earnings per share. Magnolia Oil & Gas’s revenue was down 2.5% on a year-over-year basis. As a group, equities research analysts predict that Magnolia Oil & Gas Corp will post 2.1 EPS for the current fiscal year.

Magnolia Oil & Gas Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Monday, November 10th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date was Monday, November 10th. Magnolia Oil & Gas’s dividend payout ratio (DPR) is currently 33.52%.

Magnolia Oil & Gas Company Profile

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.