Magnolia Oil & Gas Corp $MGY Shares Bought by Hsbc Holdings PLC

Hsbc Holdings PLC raised its holdings in shares of Magnolia Oil & Gas Corp (NYSE:MGY) by 153.3% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 132,456 shares of the company’s stock after acquiring an additional 80,168 shares during the quarter. Hsbc Holdings PLC owned approximately 0.07% of Magnolia Oil & Gas worth $4,202,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. AQR Capital Management LLC boosted its holdings in Magnolia Oil & Gas by 77.7% in the first quarter. AQR Capital Management LLC now owns 56,346 shares of the company’s stock valued at $1,423,000 after purchasing an additional 24,631 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Magnolia Oil & Gas by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 103,109 shares of the company’s stock worth $2,605,000 after purchasing an additional 4,512 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Magnolia Oil & Gas by 8.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 242,880 shares of the company’s stock worth $6,135,000 after purchasing an additional 18,447 shares in the last quarter. Intech Investment Management LLC lifted its position 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 worth $1,738,000 after buying an additional 7,008 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position 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 worth $31,000 after buying an additional 864 shares during the last quarter. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Magnolia Oil & Gas Stock Performance

Shares of MGY stock opened at $25.33 on Friday. The stock has a market capitalization of $4.69 billion, a PE ratio of 14.73 and a beta of 0.70. Magnolia Oil & Gas Corp has a 52-week low of $21.07 and a 52-week high of $32.76. The stock’s 50-day moving average price is $27.03 and its 200 day moving average price is $27.42. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.19.

Magnolia Oil & Gas (NYSE:MGY) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.54 EPS for the quarter, beating 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 the consensus estimate of $349.89 million. During the same period in the prior year, the business earned $0.54 EPS. The firm’s revenue was up 2.3% compared to the same quarter last year. As a group, equities research analysts forecast that Magnolia Oil & Gas Corp will post 2.7 EPS for the current year.

Magnolia Oil & Gas Announces Dividend

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

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Mizuho cut their price target on shares of Magnolia Oil & Gas from $35.00 to $33.00 and set an “outperform” rating on the stock in a research note on Wednesday. Weiss Ratings downgraded shares of Magnolia Oil & Gas from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, May 21st. Susquehanna raised their price objective on Magnolia Oil & Gas from $35.00 to $36.00 and gave the stock a “positive” rating in a report on Tuesday. KeyCorp reiterated an “overweight” rating on shares of Magnolia Oil & Gas in a research report on Monday, June 29th. Finally, Roth Capital cut their target price on Magnolia Oil & Gas from $30.00 to $29.00 and set a “buy” rating on the stock in a research report on Thursday. Eight equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target 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).