Dimensional Fund Advisors LP Boosts Holdings in Magnolia Oil & Gas Corp $MGY

Dimensional Fund Advisors LP grew its stake in shares of Magnolia Oil & Gas Corp (NYSE:MGY) by 5.9% in the first quarter, HoldingsChannel reports. The fund owned 7,028,781 shares of the company’s stock after buying an additional 394,419 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Magnolia Oil & Gas were worth $221,910,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. AQR Capital Management LLC increased its position in Magnolia Oil & Gas by 77.7% during the first quarter. AQR Capital Management LLC now owns 56,346 shares of the company’s stock worth $1,423,000 after purchasing an additional 24,631 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Magnolia Oil & Gas by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 103,109 shares of the company’s stock valued at $2,605,000 after purchasing an additional 4,512 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Magnolia Oil & Gas by 8.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 242,880 shares of the company’s stock valued at $6,135,000 after purchasing an additional 18,447 shares during the last quarter. Intech Investment Management LLC grew its stake in shares of Magnolia Oil & Gas by 11.3% during the 1st quarter. Intech Investment Management LLC now owns 68,814 shares of the company’s stock valued at $1,738,000 after buying an additional 7,008 shares during the period. Finally, EverSource Wealth Advisors LLC grew its stake in shares of Magnolia Oil & Gas by 165.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,386 shares of the company’s stock valued at $31,000 after buying an additional 864 shares during the period. 94.73% of the stock is currently owned by hedge funds and other institutional investors.

Magnolia Oil & Gas Stock Performance

Shares of MGY stock opened at $25.78 on Friday. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.19. The company has a market cap of $4.77 billion, a PE ratio of 14.99 and a beta of 0.70. The company’s fifty day simple moving average is $27.11 and its 200-day simple moving average is $27.43. Magnolia Oil & Gas Corp has a 52 week low of $21.07 and a 52 week high of $32.76.

Magnolia Oil & Gas (NYSE:MGY) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.03. Magnolia Oil & Gas had a net margin of 24.40% and a return on equity of 16.28%. 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 prior year, the company earned $0.54 EPS. The firm’s revenue 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 year.

Magnolia Oil & Gas Announces Dividend

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

Wall Street Analyst Weigh In

MGY has been the topic of several research reports. Susquehanna increased their target price on Magnolia Oil & Gas from $35.00 to $36.00 and gave the stock a “positive” rating in a research report on Tuesday. Weiss Ratings downgraded Magnolia Oil & Gas from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, May 21st. Citigroup dropped their price target on Magnolia Oil & Gas from $35.00 to $32.00 and set a “neutral” rating for the company in a research note on Monday, April 13th. Zacks Research lowered Magnolia Oil & Gas from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 19th. Finally, KeyCorp reissued an “overweight” rating on shares of Magnolia Oil & Gas in a research report on Monday, June 29th. Eight equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $31.42.

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).