Magnolia Oil & Gas Corp $MGY Shares Bought by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership raised its position in Magnolia Oil & Gas Corp (NYSE:MGY) by 790.8% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,263,808 shares of the company’s stock after buying an additional 5,560,619 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Magnolia Oil & Gas were worth $197,748,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Valued Wealth Advisors LLC purchased a new stake in shares of Magnolia Oil & Gas during the 1st quarter worth about $29,000. Salomon & Ludwin LLC increased its stake in shares of Magnolia Oil & Gas by 130.1% in the 4th quarter. Salomon & Ludwin LLC now owns 1,344 shares of the company’s stock valued at $29,000 after purchasing an additional 760 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings 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 worth $31,000 after purchasing an additional 864 shares during the period. Torren Management LLC acquired a new position in Magnolia Oil & Gas in the 4th quarter worth about $38,000. Finally, Parallel Advisors LLC boosted its position in Magnolia Oil & Gas by 79.8% during the fourth quarter. Parallel Advisors LLC now owns 1,769 shares of the company’s stock worth $39,000 after purchasing an additional 785 shares in the last quarter. Institutional investors and hedge funds own 94.73% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on MGY shares. Weiss Ratings lowered Magnolia Oil & Gas from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, May 21st. Mizuho reduced their target price on Magnolia Oil & Gas from $35.00 to $33.00 and set an “outperform” rating for the company in a research note on Wednesday. Susquehanna increased their target price on Magnolia Oil & Gas from $35.00 to $36.00 and gave the company a “positive” rating in a research report on Tuesday. Zacks Research cut shares of Magnolia Oil & Gas from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 19th. Finally, Wells Fargo & Company cut their price target on shares of Magnolia Oil & Gas from $32.00 to $31.00 and set an “equal weight” rating for the company in a report on Wednesday, May 13th. Eight analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Magnolia Oil & Gas presently has an average rating of “Hold” and an average target price of $31.42.

Magnolia Oil & Gas Stock Performance

NYSE MGY opened at $25.33 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.10 and a quick ratio of 1.10. The stock’s 50 day simple moving average is $27.03 and its 200-day simple moving average is $27.42. The company has a market cap of $4.69 billion, a PE ratio of 14.73 and a beta of 0.70. Magnolia Oil & Gas Corp has a 1-year low of $21.07 and a 1-year high of $32.76.

Magnolia Oil & Gas (NYSE:MGY) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $0.54 EPS for the quarter, topping 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 firm had revenue of $358.51 million during the quarter, compared to analysts’ expectations of $349.89 million. During the same period in the previous year, the business earned $0.54 earnings per share. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. As a group, equities research analysts anticipate that Magnolia Oil & Gas Corp will post 2.7 EPS for the current fiscal year.

Magnolia Oil & Gas Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Tuesday, May 12th were issued a dividend of $0.165 per share. The ex-dividend date of this dividend was Tuesday, May 12th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 2.6%. Magnolia Oil & Gas’s dividend payout ratio is presently 38.37%.

About Magnolia Oil & Gas

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).