Arrowstreet Capital Limited Partnership Has $10.78 Million Position in Magnolia Oil & Gas Corp $MGY

Arrowstreet Capital Limited Partnership increased its holdings in shares of Magnolia Oil & Gas Corp (NYSE:MGY) by 6.3% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 479,309 shares of the company’s stock after acquiring an additional 28,412 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Magnolia Oil & Gas were worth $10,775,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. State of Wyoming lifted its holdings in shares of Magnolia Oil & Gas by 8.2% during the first quarter. State of Wyoming now owns 5,777 shares of the company’s stock worth $146,000 after purchasing an additional 440 shares during the period. Vista Finance LLC increased its holdings in Magnolia Oil & Gas by 4.0% in the second quarter. Vista Finance LLC now owns 12,134 shares of the company’s stock valued at $273,000 after purchasing an additional 471 shares during the period. ProShare Advisors LLC raised its position in Magnolia Oil & Gas by 1.2% during the 2nd quarter. ProShare Advisors LLC now owns 41,617 shares of the company’s stock worth $936,000 after purchasing an additional 495 shares during the last quarter. HighTower Advisors LLC lifted its holdings in Magnolia Oil & Gas by 4.9% during the 1st quarter. HighTower Advisors LLC now owns 15,852 shares of the company’s stock worth $400,000 after buying an additional 746 shares during the period. Finally, Oppenheimer Asset Management Inc. lifted its holdings in Magnolia Oil & Gas by 2.1% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 39,766 shares of the company’s stock worth $894,000 after buying an additional 809 shares during the period. 94.73% of the stock is currently owned by institutional investors and hedge funds.

Magnolia Oil & Gas Trading Down 1.0%

NYSE:MGY opened at $22.89 on Wednesday. Magnolia Oil & Gas Corp has a 12 month low of $19.09 and a 12 month high of $26.84. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $4.32 billion, a price-to-earnings ratio of 12.78, a PEG ratio of 3.11 and a beta of 0.93. The firm has a fifty day simple moving average of $22.95 and a two-hundred day simple moving average of $23.38.

Magnolia Oil & Gas (NYSE:MGY) last issued its earnings results on Wednesday, October 29th. The company reported $0.41 EPS for the quarter, meeting the consensus estimate 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 EPS. The firm’s revenue for the quarter was down 2.5% compared to the same quarter last year. Analysts expect that Magnolia Oil & Gas Corp will post 2.1 EPS for the current fiscal year.

Magnolia Oil & Gas Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Monday, November 10th were issued a dividend of $0.15 per share. The ex-dividend date was Monday, November 10th. This represents a $0.60 annualized dividend and a dividend yield of 2.6%. Magnolia Oil & Gas’s payout ratio is currently 33.52%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Piper Sandler decreased their price target on Magnolia Oil & Gas from $25.00 to $23.00 and set a “neutral” rating for the company in a research note on Tuesday, November 18th. KeyCorp set a $29.00 target price on Magnolia Oil & Gas and gave the company an “overweight” rating in a report on Wednesday, October 15th. 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. Weiss Ratings restated a “hold (c)” rating on shares of Magnolia Oil & Gas in a research report on Wednesday, October 8th. Finally, Mizuho upped their price objective on shares of Magnolia Oil & Gas from $25.00 to $26.00 and gave the company a “neutral” rating in a research note on Thursday, October 30th. Five research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Magnolia Oil & Gas presently has a consensus rating of “Hold” and a consensus price target of $26.25.

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.