Phocas Financial Corp. Raises Holdings in Magnolia Oil & Gas Corp $MGY

Phocas Financial Corp. boosted its stake in Magnolia Oil & Gas Corp (NYSE:MGY) by 69.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 189,378 shares of the company’s stock after purchasing an additional 77,327 shares during the period. Phocas Financial Corp.’s holdings in Magnolia Oil & Gas were worth $4,257,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MGY. Jane Street Group LLC boosted its holdings in shares of Magnolia Oil & Gas by 1,382.9% during 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 period. Mackenzie Financial Corp raised its position in Magnolia Oil & Gas by 164.9% during the 1st quarter. Mackenzie Financial Corp now owns 29,322 shares of the company’s stock valued at $741,000 after purchasing an additional 18,254 shares during the last quarter. Jupiter Asset Management Ltd. bought a new position in Magnolia Oil & Gas during the 1st quarter valued at approximately $3,963,000. Nordea Investment Management AB lifted its holdings in Magnolia Oil & Gas by 1.0% in the 2nd quarter. Nordea Investment Management AB now owns 444,636 shares of the company’s stock worth $10,062,000 after buying an additional 4,372 shares during the period. Finally, Exchange Traded Concepts LLC grew its position in shares of Magnolia Oil & Gas by 6.1% in the 2nd quarter. Exchange Traded Concepts LLC now owns 47,988 shares of the company’s stock worth $1,079,000 after buying an additional 2,758 shares during the last quarter. Institutional investors own 94.73% of the company’s stock.

Magnolia Oil & Gas Stock Performance

Shares of Magnolia Oil & Gas stock opened at $21.43 on Thursday. Magnolia Oil & Gas Corp has a 12 month low of $19.09 and a 12 month high of $29.02. The firm has a market capitalization of $4.09 billion, a P/E ratio of 11.97, a P/E/G ratio of 2.96 and a beta of 1.18. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.20. The business has a fifty day simple moving average of $23.68 and a two-hundred day simple moving average of $23.16.

Magnolia Oil & Gas (NYSE:MGY) last issued its quarterly earnings results on Wednesday, October 29th. The company reported $0.41 earnings per share (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 analyst estimates of $322.52 million. During the same period last year, the business earned $0.52 EPS. Magnolia Oil & Gas’s quarterly revenue was down 2.5% compared to the same quarter last year. On average, equities 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 firm also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Monday, November 10th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 2.8%. The ex-dividend date is Monday, November 10th. Magnolia Oil & Gas’s dividend payout ratio (DPR) is presently 33.52%.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Mizuho upped their target price on Magnolia Oil & Gas from $25.00 to $26.00 and gave the company a “neutral” rating in a report on Thursday, October 30th. William Blair assumed coverage on shares of Magnolia Oil & Gas in a research report on Monday, August 25th. They set an “outperform” rating on the stock. Citigroup restated a “sell” rating on shares of Magnolia Oil & Gas in a report on Thursday, July 10th. KeyCorp set a $29.00 target price on shares of Magnolia Oil & Gas and gave the company an “overweight” rating in a research note on Wednesday, October 15th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Magnolia Oil & Gas in a research report on Wednesday, October 8th. Five research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Magnolia Oil & Gas presently has an average rating of “Hold” and a consensus price target of $26.42.

Magnolia Oil & Gas Company 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.