Segall Bryant & Hamill LLC Takes $2.45 Million Position in Magnolia Oil & Gas Corp $MGY

Segall Bryant & Hamill LLC bought a new position in Magnolia Oil & Gas Corp (NYSE:MGY) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 109,182 shares of the company’s stock, valued at approximately $2,454,000. Segall Bryant & Hamill LLC owned about 0.06% of Magnolia Oil & Gas as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the company. Encompass Capital Advisors LLC bought a new stake in Magnolia Oil & Gas during the first quarter worth about $53,819,000. Jane Street Group LLC boosted its holdings 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 worth $26,759,000 after acquiring an additional 987,896 shares in the last quarter. Millennium Management LLC grew its position in Magnolia Oil & Gas by 506.2% during the 1st quarter. Millennium Management LLC now owns 1,022,836 shares of the company’s stock worth $25,837,000 after acquiring an additional 854,113 shares during the last quarter. Nuveen LLC acquired a new stake in Magnolia Oil & Gas during the 1st quarter valued at $21,066,000. Finally, Boston Trust Walden Corp increased its holdings in Magnolia Oil & Gas by 26.0% during the 2nd quarter. Boston Trust Walden Corp now owns 4,003,770 shares of the company’s stock valued at $90,005,000 after purchasing an additional 825,162 shares in the last quarter. 94.73% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on MGY. Mizuho increased their target price on Magnolia Oil & Gas from $25.00 to $26.00 and gave the stock a “neutral” rating in a report on Thursday, October 30th. KeyCorp set a $29.00 price objective on shares of Magnolia Oil & Gas and gave the stock an “overweight” rating in a report on Wednesday, October 15th. Weiss Ratings restated a “hold (c)” rating on shares of Magnolia Oil & Gas in a research report on Wednesday, October 8th. Piper Sandler dropped their target price on shares of 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. Finally, William Blair began coverage on shares of Magnolia Oil & Gas in a research report on Monday, August 25th. They set an “outperform” rating on the stock. Five investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Magnolia Oil & Gas currently has an average rating of “Hold” and an average price target of $26.25.

Magnolia Oil & Gas Price Performance

Shares of MGY stock opened at $23.13 on Tuesday. The stock has a 50-day moving average price of $23.24 and a 200 day moving average price of $23.32. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.20. The firm has a market cap of $4.36 billion, a price-to-earnings ratio of 12.92, a PEG ratio of 3.09 and a beta of 1.18. Magnolia Oil & Gas Corp has a 12 month low of $19.09 and a 12 month high of $28.92.

Magnolia Oil & Gas (NYSE:MGY) last released its earnings results on Wednesday, October 29th. The company reported $0.41 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.41. The company had revenue of $324.94 million for the quarter, compared to the consensus estimate of $322.52 million. Magnolia Oil & Gas had a net margin of 25.90% and a return on equity of 18.10%. The company’s revenue was down 2.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.52 EPS. Research analysts expect that Magnolia Oil & Gas Corp will post 2.1 EPS for the current year.

Magnolia Oil & Gas Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Monday, November 10th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Monday, November 10th. This represents a $0.60 dividend on an annualized basis and a yield of 2.6%. Magnolia Oil & Gas’s dividend payout ratio (DPR) is presently 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.