SG Americas Securities LLC Acquires 88,841 Shares of Magnolia Oil & Gas Corp $MGY

SG Americas Securities LLC raised its stake in shares of Magnolia Oil & Gas Corp (NYSE:MGY) by 391.8% during the 3rd quarter, Holdings Channel.com reports. The fund owned 111,518 shares of the company’s stock after purchasing an additional 88,841 shares during the quarter. SG Americas Securities LLC’s holdings in Magnolia Oil & Gas were worth $2,662,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in MGY. American Century Companies Inc. raised its holdings in shares of Magnolia Oil & Gas by 12.9% during the second quarter. American Century Companies Inc. now owns 11,861,231 shares of the company’s stock valued at $266,641,000 after purchasing an additional 1,358,878 shares during the last quarter. Geode Capital Management LLC grew its position in Magnolia Oil & Gas by 5.6% in the 2nd quarter. Geode Capital Management LLC now owns 4,531,855 shares of the company’s stock worth $101,895,000 after purchasing an additional 238,356 shares during the period. Boston Trust Walden Corp raised its stake in Magnolia Oil & Gas by 26.0% during the 2nd quarter. Boston Trust Walden Corp now owns 4,003,770 shares of the company’s stock valued at $90,005,000 after buying an additional 825,162 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Magnolia Oil & Gas by 4.2% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 3,307,951 shares of the company’s stock valued at $75,454,000 after buying an additional 132,564 shares during the period. Finally, Systematic Financial Management LP boosted its stake in shares of Magnolia Oil & Gas by 0.8% in the 2nd quarter. Systematic Financial Management LP now owns 3,013,800 shares of the company’s stock worth $67,750,000 after buying an additional 24,054 shares during the last quarter. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Analysts Set New Price Targets

MGY has been the subject of several research analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Magnolia Oil & Gas in a research report on Wednesday, October 8th. UBS Group restated a “buy” rating and set a $29.00 price target on shares of Magnolia Oil & Gas in a research note on Friday. Mizuho set a $29.00 price target on shares of Magnolia Oil & Gas in a research report on Friday, December 12th. BMO Capital Markets initiated coverage on shares of Magnolia Oil & Gas in a report on Friday. They issued an “outperform” rating and a $27.00 price objective on the stock. Finally, KeyCorp set a $29.00 target price on shares of Magnolia Oil & Gas and gave the company an “overweight” rating in a research report on Wednesday, October 15th. Six investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Magnolia Oil & Gas has a consensus rating of “Hold” and an average target price of $25.92.

Magnolia Oil & Gas Stock Performance

Shares of MGY opened at $22.49 on Wednesday. The business has a 50-day simple moving average of $22.41 and a two-hundred day simple moving average of $23.21. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.20. Magnolia Oil & Gas Corp has a 52 week low of $19.09 and a 52 week high of $26.84. The stock has a market cap of $4.24 billion, a price-to-earnings ratio of 12.56, a PEG ratio of 3.28 and a beta of 0.92.

Magnolia Oil & Gas (NYSE:MGY) last posted its quarterly earnings data on Wednesday, October 29th. The company reported $0.41 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.41. The firm had revenue of $324.94 million for 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 business’s quarterly revenue was down 2.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.52 EPS. On average, analysts expect that Magnolia Oil & Gas Corp will post 2.1 EPS for the current year.

Magnolia Oil & Gas Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Monday, November 10th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Monday, November 10th. This represents a $0.60 annualized dividend and a yield of 2.7%. Magnolia Oil & Gas’s payout ratio is currently 33.52%.

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).