Boston Trust Walden Corp Purchases 825,162 Shares of Magnolia Oil & Gas Corp $MGY

Boston Trust Walden Corp raised its position in Magnolia Oil & Gas Corp (NYSE:MGY) by 26.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,003,770 shares of the company’s stock after purchasing an additional 825,162 shares during the period. Boston Trust Walden Corp’s holdings in Magnolia Oil & Gas were worth $90,005,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Opal Wealth Advisors LLC bought a new position in Magnolia Oil & Gas in the 1st quarter valued at $30,000. Farther Finance Advisors LLC boosted its holdings in Magnolia Oil & Gas by 16.8% in the 1st quarter. Farther Finance Advisors LLC now owns 4,366 shares of the company’s stock valued at $111,000 after purchasing an additional 629 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Magnolia Oil & Gas by 98.6% during the 2nd quarter. GAMMA Investing LLC now owns 5,009 shares of the company’s stock worth $113,000 after acquiring an additional 2,487 shares during the last quarter. Smartleaf Asset Management LLC lifted its holdings in shares of Magnolia Oil & Gas by 34.3% during the 1st quarter. Smartleaf Asset Management LLC now owns 5,072 shares of the company’s stock worth $128,000 after acquiring an additional 1,295 shares during the last quarter. Finally, Pacer Advisors Inc. bought a new stake in shares of Magnolia Oil & Gas during the 1st quarter worth $136,000. 94.73% of the stock is owned by institutional investors.

Magnolia Oil & Gas Price Performance

MGY stock opened at $23.32 on Tuesday. The firm’s 50-day moving average price is $24.00 and its two-hundred day moving average price is $23.04. Magnolia Oil & Gas Corp has a 12-month low of $19.09 and a 12-month high of $29.02. The stock has a market capitalization of $4.45 billion, a price-to-earnings ratio of 12.21, a PEG ratio of 2.99 and a beta of 1.24. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.20.

Magnolia Oil & Gas (NYSE:MGY) last released its quarterly earnings data on Wednesday, July 30th. The company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.03. Magnolia Oil & Gas had a net margin of 27.57% and a return on equity of 19.34%. The firm had revenue of $318.98 million for the quarter, compared to analysts’ expectations of $311.58 million. During the same quarter in the previous year, the company earned $0.51 earnings per share. The company’s revenue for the quarter was down 5.3% compared to the same quarter last year. As a group, equities analysts predict that Magnolia Oil & Gas Corp will post 2.1 earnings per share for the current year.

Magnolia Oil & Gas Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 11th were given a dividend of $0.15 per share. The ex-dividend date was Monday, August 11th. This represents a $0.60 annualized dividend and a dividend yield of 2.6%. Magnolia Oil & Gas’s payout ratio is currently 31.41%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on MGY shares. Mizuho dropped their price objective on shares of Magnolia Oil & Gas from $26.00 to $25.00 and set a “neutral” rating for the company in a report on Monday, September 15th. Piper Sandler lifted their target price on shares of Magnolia Oil & Gas from $24.00 to $25.00 and gave the stock a “neutral” rating in a research report on Thursday, July 17th. William Blair initiated coverage on shares of Magnolia Oil & Gas in a research report on Monday, August 25th. They issued an “outperform” rating on the stock. Citigroup reiterated a “sell” rating on shares of Magnolia Oil & Gas in a research report on Thursday, July 10th. Finally, Wells Fargo & Company decreased their target price on shares of Magnolia Oil & Gas from $22.00 to $21.00 and set an “underweight” rating on the stock in a research report on Monday, June 16th. Four analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $26.42.

About Magnolia Oil & Gas

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.