Magnolia Oil & Gas Corp $MGY Shares Acquired by Rhumbline Advisers

Rhumbline Advisers lifted its holdings in Magnolia Oil & Gas Corp (NYSE:MGY) by 11.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 584,235 shares of the company’s stock after buying an additional 58,824 shares during the quarter. Rhumbline Advisers owned 0.31% of Magnolia Oil & Gas worth $13,134,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. American Century Companies Inc. boosted its position in shares of Magnolia Oil & Gas by 5.7% during the 1st quarter. American Century Companies Inc. now owns 10,502,353 shares of the company’s stock worth $265,289,000 after purchasing an additional 562,223 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Magnolia Oil & Gas by 12.5% in the first quarter. Dimensional Fund Advisors LP now owns 5,365,892 shares of the company’s stock valued at $135,541,000 after purchasing an additional 597,845 shares during the period. Geode Capital Management LLC boosted its holdings in Magnolia Oil & Gas by 5.6% during the second quarter. Geode Capital Management LLC now owns 4,531,855 shares of the company’s stock worth $101,895,000 after buying an additional 238,356 shares in the last quarter. Boston Trust Walden Corp boosted its holdings in Magnolia Oil & Gas by 26.0% during the second quarter. Boston Trust Walden Corp now owns 4,003,770 shares of the company’s stock worth $90,005,000 after buying an additional 825,162 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its position in Magnolia Oil & Gas by 4.2% during the second quarter. Allspring Global Investments Holdings LLC now owns 3,307,951 shares of the company’s stock worth $75,454,000 after buying an additional 132,564 shares during the period. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Wall Street Analysts Forecast Growth

MGY has been the subject of a number of research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Magnolia Oil & Gas in a research report on Wednesday, October 8th. Mizuho boosted their target price on Magnolia Oil & Gas from $25.00 to $26.00 and gave the stock a “neutral” rating in a research report on Thursday, October 30th. Piper Sandler lowered their target price on Magnolia Oil & Gas from $25.00 to $23.00 and set a “neutral” rating on the stock in a report on Tuesday, November 18th. William Blair started coverage on Magnolia Oil & Gas in a research report on Monday, August 25th. They issued an “outperform” rating for the company. Finally, KeyCorp set a $29.00 price objective on shares of Magnolia Oil & Gas and gave the stock an “overweight” rating in a research report on Wednesday, October 15th. Five equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $26.25.

Magnolia Oil & Gas Stock Up 0.9%

Shares of NYSE:MGY opened at $23.14 on Friday. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $4.37 billion, a P/E ratio of 12.92, a P/E/G ratio of 3.11 and a beta of 1.18. Magnolia Oil & Gas Corp has a 52-week low of $19.09 and a 52-week high of $27.90. The stock’s fifty day simple moving average is $23.12 and its 200-day simple moving average is $23.32.

Magnolia Oil & Gas (NYSE:MGY) last posted its quarterly earnings data on Wednesday, October 29th. The company reported $0.41 EPS for the quarter, hitting analysts’ consensus estimates of $0.41. The firm had revenue of $324.94 million during the quarter, compared to analysts’ expectations of $322.52 million. Magnolia Oil & Gas had a return on equity of 18.10% and a net margin of 25.90%.The firm’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.52 EPS. As a group, equities research analysts forecast that Magnolia Oil & Gas Corp will post 2.1 earnings per share for the current fiscal year.

Magnolia Oil & Gas Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Monday, November 10th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Monday, November 10th. This represents a $0.60 annualized dividend and a dividend yield of 2.6%. Magnolia Oil & Gas’s dividend payout ratio is presently 33.52%.

Magnolia Oil & Gas Profile

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.