Heartland Advisors Inc. Has $19.90 Million Stock Holdings in Magnolia Oil & Gas Corp $MGY

Heartland Advisors Inc. decreased its stake in Magnolia Oil & Gas Corp (NYSE:MGY) by 3.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 630,475 shares of the company’s stock after selling 20,774 shares during the period. Magnolia Oil & Gas comprises about 1.0% of Heartland Advisors Inc.’s holdings, making the stock its 18th largest holding. Heartland Advisors Inc. owned about 0.34% of Magnolia Oil & Gas worth $19,904,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in MGY. JPMorgan Chase & Co. boosted its holdings in shares of Magnolia Oil & Gas by 34.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 858,972 shares of the company’s stock valued at $20,504,000 after acquiring an additional 221,920 shares in the last quarter. Foster Victor Wealth Advisors LLC grew its position in Magnolia Oil & Gas by 9.2% during the 4th quarter. Foster Victor Wealth Advisors LLC now owns 417,192 shares of the company’s stock worth $9,429,000 after acquiring an additional 35,223 shares during the last quarter. Bessemer Group Inc. increased its holdings in Magnolia Oil & Gas by 22.4% in the 4th quarter. Bessemer Group Inc. now owns 1,116,993 shares of the company’s stock worth $24,452,000 after purchasing an additional 204,467 shares in the last quarter. Diamond Hill Capital Management Inc. increased its holdings in Magnolia Oil & Gas by 210.5% in the 4th quarter. Diamond Hill Capital Management Inc. now owns 414,817 shares of the company’s stock worth $9,080,000 after purchasing an additional 281,234 shares in the last quarter. Finally, GW&K Investment Management LLC increased its holdings in Magnolia Oil & Gas by 14.6% in the 4th quarter. GW&K Investment Management LLC now owns 3,169,496 shares of the company’s stock worth $69,381,000 after purchasing an additional 404,402 shares in the last quarter. Institutional investors and hedge funds own 94.73% of the company’s stock.

Magnolia Oil & Gas Stock Performance

NYSE MGY opened at $27.27 on Friday. The company has a market capitalization of $5.04 billion, a price-to-earnings ratio of 15.85 and a beta of 0.70. Magnolia Oil & Gas Corp has a twelve month low of $21.07 and a twelve month high of $32.76. The stock has a fifty day simple moving average of $27.36 and a 200 day simple moving average of $27.30. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.19.

Magnolia Oil & Gas (NYSE:MGY) last announced its earnings results on Wednesday, May 6th. The company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.03. The business had revenue of $358.51 million during the quarter, compared to analyst estimates of $349.89 million. Magnolia Oil & Gas had a return on equity of 16.28% and a net margin of 24.40%.Magnolia Oil & Gas’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period last year, the company earned $0.54 EPS. Sell-side analysts expect that Magnolia Oil & Gas Corp will post 2.67 EPS for the current year.

Magnolia Oil & Gas Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on MGY shares. Mizuho lifted their price target on Magnolia Oil & Gas from $33.00 to $35.00 and gave the company an “outperform” rating in a research note on Wednesday, May 27th. Zacks Research downgraded Magnolia Oil & Gas from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 19th. Roth Capital raised Magnolia Oil & Gas from a “neutral” rating to a “buy” rating and set a $31.00 price objective for the company in a research note on Monday, June 22nd. Weiss Ratings lowered shares of Magnolia Oil & Gas from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, May 21st. Finally, Citigroup cut their target price on shares of Magnolia Oil & Gas from $35.00 to $32.00 and set a “neutral” rating on the stock in a research report on Monday, April 13th. Eight equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, Magnolia Oil & Gas presently has an average rating of “Hold” and an average target price of $31.08.

Magnolia Oil & Gas 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).