TimesSquare Capital Management LLC Purchases 12,638 Shares of Magnolia Oil & Gas Corp $MGY

TimesSquare Capital Management LLC boosted its stake in shares of Magnolia Oil & Gas Corp (NYSE:MGY) by 1.9% during the 2nd quarter, Holdings Channel.com reports. The firm owned 691,959 shares of the company’s stock after buying an additional 12,638 shares during the quarter. TimesSquare Capital Management LLC’s holdings in Magnolia Oil & Gas were worth $15,555,000 as of its most recent filing with the SEC.

Other hedge funds have also recently made changes to their positions in the company. Jane Street Group LLC increased its holdings in shares of Magnolia Oil & Gas by 1,382.9% in the first quarter. Jane Street Group LLC now owns 1,059,335 shares of the company’s stock worth $26,759,000 after purchasing an additional 987,896 shares during the last quarter. Campbell & CO Investment Adviser LLC lifted its holdings in Magnolia Oil & Gas by 325.0% during the 2nd quarter. Campbell & CO Investment Adviser LLC now owns 214,211 shares of the company’s stock valued at $4,815,000 after buying an additional 163,804 shares in the last quarter. Mackenzie Financial Corp increased its holdings in Magnolia Oil & Gas by 164.9% during the 1st quarter. Mackenzie Financial Corp now owns 29,322 shares of the company’s stock worth $741,000 after purchasing an additional 18,254 shares during the period. Phocas Financial Corp. lifted its stake in Magnolia Oil & Gas by 69.0% in the second quarter. Phocas Financial Corp. now owns 189,378 shares of the company’s stock worth $4,257,000 after acquiring an additional 77,327 shares during the period. Finally, Jupiter Asset Management Ltd. bought a new position in Magnolia Oil & Gas in the first quarter worth approximately $3,963,000. Institutional investors own 94.73% of the company’s stock.

Wall Street Analyst Weigh In

MGY has been the subject of a number of recent analyst reports. William Blair assumed coverage on Magnolia Oil & Gas in a research report on Monday, August 25th. They issued an “outperform” rating for the company. Mizuho raised their price objective on shares of Magnolia Oil & Gas from $25.00 to $26.00 and gave the stock a “neutral” rating in a research note on Thursday, October 30th. KeyCorp set a $29.00 price target on shares of Magnolia Oil & Gas and gave the company an “overweight” rating in a research note on Wednesday, October 15th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Magnolia Oil & Gas in a research report on Wednesday, October 8th. Finally, Piper Sandler increased their target price on Magnolia Oil & Gas from $24.00 to $25.00 and gave the company a “neutral” rating in a report on Thursday, July 17th. Five analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $26.42.

Magnolia Oil & Gas Stock Performance

Shares of MGY opened at $22.73 on Thursday. The company has a market capitalization of $4.29 billion, a PE ratio of 12.70, a PEG ratio of 3.09 and a beta of 1.18. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.47 and a current ratio of 1.47. The company’s 50 day moving average price is $23.42 and its 200 day moving average price is $23.21. Magnolia Oil & Gas Corp has a 52 week low of $19.09 and a 52 week high of $29.02.

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

Magnolia Oil & Gas Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Monday, November 10th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 2.6%. The ex-dividend date is Monday, November 10th. Magnolia Oil & Gas’s dividend payout ratio (DPR) is currently 33.52%.

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.