Magnolia Oil & Gas Corp $MGY Shares Bought by Heartland Advisors Inc.

Heartland Advisors Inc. raised its holdings in Magnolia Oil & Gas Corp (NYSE:MGY) by 13.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 651,249 shares of the company’s stock after purchasing an additional 74,959 shares during the period. Heartland Advisors Inc. owned about 0.35% of Magnolia Oil & Gas worth $14,256,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Salomon & Ludwin LLC raised its position in shares of Magnolia Oil & Gas by 130.1% during the 4th quarter. Salomon & Ludwin LLC now owns 1,344 shares of the company’s stock valued at $29,000 after acquiring an additional 760 shares in the last quarter. EverSource Wealth Advisors LLC raised 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 valued at $31,000 after acquiring an additional 864 shares in the last quarter. Torren Management LLC acquired a new stake in shares of Magnolia Oil & Gas during the 4th quarter valued at approximately $38,000. Parallel Advisors LLC raised its position in shares of Magnolia Oil & Gas by 79.8% during the 4th quarter. Parallel Advisors LLC now owns 1,769 shares of the company’s stock valued at $39,000 after acquiring an additional 785 shares in the last quarter. Finally, First Horizon Corp raised its position in shares of Magnolia Oil & Gas by 159.8% during the 4th quarter. First Horizon Corp now owns 1,889 shares of the company’s stock valued at $41,000 after acquiring an additional 1,162 shares in the last quarter. 94.73% of the stock is owned by institutional investors and hedge funds.

Magnolia Oil & Gas Price Performance

Shares of NYSE MGY opened at $27.86 on Thursday. Magnolia Oil & Gas Corp has a 1-year low of $21.07 and a 1-year 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 business’s fifty day moving average price is $29.06 and its two-hundred day moving average price is $26.61. The firm has a market capitalization of $5.15 billion, a PE ratio of 16.20 and a beta of 0.71.

Magnolia Oil & Gas (NYSE:MGY) last issued its earnings results on Wednesday, May 6th. The company reported $0.54 earnings per share 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 for the quarter, compared to analyst estimates of $349.89 million. During the same period last year, the company earned $0.54 earnings per share. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. On average, research analysts expect that Magnolia Oil & Gas Corp will post 2.82 EPS for the current year.

Magnolia Oil & Gas Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 1st. Shareholders 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 yield of 2.4%. Magnolia Oil & Gas’s dividend payout ratio (DPR) is currently 38.37%.

Wall Street Analyst Weigh In

MGY has been the topic of several research reports. UBS Group upped their price target on Magnolia Oil & Gas from $29.00 to $35.00 and gave the company a “buy” rating in a research report on Thursday, March 5th. Roth Mkm reissued a “neutral” rating and set a $32.00 price target (up from $29.00) on shares of Magnolia Oil & Gas in a research report on Wednesday, April 8th. Weiss Ratings lowered Magnolia Oil & Gas from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, May 21st. The Goldman Sachs Group upped their price target on Magnolia Oil & Gas from $23.00 to $26.00 and gave the company a “neutral” rating in a research report on Wednesday, February 11th. Finally, Wells Fargo & Company dropped their price target on Magnolia Oil & Gas from $32.00 to $31.00 and set an “equal weight” rating on the stock in a research report on Wednesday, May 13th. Seven equities research 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, Magnolia Oil & Gas currently has an average 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).