Magnolia Oil & Gas Corp $MGY Shares Acquired by Corigliano Investment Advisers LLC

Corigliano Investment Advisers LLC increased its stake in shares of Magnolia Oil & Gas Corp (NYSE:MGY) by 38.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 617,000 shares of the company’s stock after purchasing an additional 172,000 shares during the quarter. Magnolia Oil & Gas makes up about 4.8% of Corigliano Investment Advisers LLC’s portfolio, making the stock its 6th largest holding. Corigliano Investment Advisers LLC owned about 0.33% of Magnolia Oil & Gas worth $13,506,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the stock. AQR Capital Management LLC increased its position in Magnolia Oil & Gas by 14.4% during the 4th quarter. AQR Capital Management LLC now owns 318,574 shares of the company’s stock worth $6,974,000 after purchasing an additional 40,086 shares in the last quarter. Cetera Investment Advisers increased its position in Magnolia Oil & Gas by 3.9% during the 4th quarter. Cetera Investment Advisers now owns 16,682 shares of the company’s stock worth $365,000 after purchasing an additional 621 shares in the last quarter. Trexquant Investment LP increased its position in Magnolia Oil & Gas by 188.0% during the 4th quarter. Trexquant Investment LP now owns 392,595 shares of the company’s stock worth $8,594,000 after purchasing an additional 256,297 shares in the last quarter. BTG Pactual Asset Management US LLC acquired a new position in Magnolia Oil & Gas during the 4th quarter worth approximately $206,000. Finally, Laurion Capital Management LP acquired a new position in Magnolia Oil & Gas during the 4th quarter worth approximately $675,000. 94.73% of the stock is currently owned by institutional investors and hedge funds.

Magnolia Oil & Gas Trading Down 0.9%

MGY opened at $26.87 on Thursday. Magnolia Oil & Gas Corp has a fifty-two week low of $21.07 and a fifty-two week high of $32.76. 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 firm has a market capitalization of $4.97 billion, a price-to-earnings ratio of 15.62 and a beta of 0.71. The company’s 50 day moving average price is $28.68 and its two-hundred day moving average price is $26.76.

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 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 company had revenue of $358.51 million for the quarter, compared to analyst estimates of $349.89 million. During the same period in the prior year, the firm posted $0.54 EPS. The company’s quarterly revenue was up 2.3% on a year-over-year basis. As a group, research analysts predict that Magnolia Oil & Gas Corp will post 2.79 earnings per share for the current year.

Magnolia Oil & Gas Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Tuesday, May 12th were paid a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend was Tuesday, May 12th. Magnolia Oil & Gas’s dividend payout ratio is currently 38.37%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on MGY shares. Wells Fargo & Company reduced their target price on shares of Magnolia Oil & Gas from $32.00 to $31.00 and set an “equal weight” rating on the stock in a report on Wednesday, May 13th. Siebert Williams Shank lowered shares of Magnolia Oil & Gas from a “buy” rating to a “hold” rating in a report on Friday, March 6th. Citigroup reduced their target price on shares of Magnolia Oil & Gas from $35.00 to $32.00 and set a “neutral” rating on the stock in a report on Monday, April 13th. Roth Mkm reissued a “neutral” rating and set a $32.00 target price (up from $29.00) on shares of Magnolia Oil & Gas in a report on Wednesday, April 8th. Finally, Zacks Research lowered shares of Magnolia Oil & Gas from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 19th. Seven analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average 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).