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

Heartland Advisors Inc. boosted its stake in Magnolia Oil & Gas Corp (NYSE:MGY) by 13.0% during the 4th quarter, Holdings Channel.com reports. 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.’s holdings in Magnolia Oil & Gas were worth $14,256,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently modified their holdings of the business. Lido Advisors LLC grew its stake in shares of Magnolia Oil & Gas by 2.4% in the fourth quarter. Lido Advisors LLC now owns 16,197 shares of the company’s stock worth $382,000 after purchasing an additional 387 shares in the last quarter. Oak Family Advisors LLC grew its stake in shares of Magnolia Oil & Gas by 0.9% in the fourth quarter. Oak Family Advisors LLC now owns 47,620 shares of the company’s stock worth $1,042,000 after purchasing an additional 410 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Magnolia Oil & Gas by 8.0% in the fourth quarter. GAMMA Investing LLC now owns 6,130 shares of the company’s stock worth $134,000 after purchasing an additional 453 shares in the last quarter. Coldstream Capital Management Inc. grew its stake in shares of Magnolia Oil & Gas by 3.1% in the third quarter. Coldstream Capital Management Inc. now owns 15,937 shares of the company’s stock worth $380,000 after purchasing an additional 482 shares in the last quarter. Finally, Lazard Asset Management LLC grew its stake in shares of Magnolia Oil & Gas by 0.4% in the second quarter. Lazard Asset Management LLC now owns 167,071 shares of the company’s stock worth $3,755,000 after purchasing an additional 671 shares in the last quarter. Institutional investors own 94.73% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on MGY shares. Mizuho increased their price target on Magnolia Oil & Gas from $33.00 to $35.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 27th. Piper Sandler increased their price target on Magnolia Oil & Gas from $28.00 to $31.00 and gave the stock a “neutral” rating in a research note on Thursday, March 12th. Wells Fargo & Company decreased their price target on Magnolia Oil & Gas from $32.00 to $31.00 and set an “equal weight” rating for the company in a research note on Wednesday, May 13th. UBS Group increased their price target on Magnolia Oil & Gas from $29.00 to $35.00 and gave the stock a “buy” rating in a research note on Thursday, March 5th. Finally, The Goldman Sachs Group increased their price target on Magnolia Oil & Gas from $23.00 to $26.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 11th. Seven analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $31.42.

Magnolia Oil & Gas Trading Up 2.1%

Shares of NYSE MGY opened at $27.86 on Thursday. Magnolia Oil & Gas Corp has a 12 month low of $21.07 and a 12 month high of $32.76. The company has a market cap of $5.15 billion, a price-to-earnings ratio of 16.20 and a beta of 0.71. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.19. The business has a fifty day simple moving average of $29.06 and a 200-day simple moving average of $26.61.

Magnolia Oil & Gas (NYSE:MGY) last announced its earnings results on Wednesday, May 6th. The company reported $0.54 EPS for the quarter, beating 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 business had revenue of $358.51 million during the quarter, compared to the consensus estimate of $349.89 million. During the same period in the prior year, the business posted $0.54 earnings per share. Magnolia Oil & Gas’s revenue was up 2.3% compared to the same quarter last year. Sell-side analysts predict that Magnolia Oil & Gas Corp will post 2.82 EPS for the current year.

Magnolia Oil & Gas Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Tuesday, May 12th were issued a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend was Tuesday, May 12th. Magnolia Oil & Gas’s dividend payout ratio is currently 38.37%.

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).