Magnolia Oil & Gas Corp $MGY Shares Bought by Bessemer Group Inc.

Bessemer Group Inc. lifted its holdings in shares of Magnolia Oil & Gas Corp (NYSE:MGY) by 12.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,254,441 shares of the company’s stock after acquiring an additional 137,448 shares during the quarter. Bessemer Group Inc.’s holdings in Magnolia Oil & Gas were worth $39,602,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. AQR Capital Management LLC boosted its stake in shares of Magnolia Oil & Gas by 77.7% during the 1st quarter. AQR Capital Management LLC now owns 56,346 shares of the company’s stock valued at $1,423,000 after buying an additional 24,631 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Magnolia Oil & Gas by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 103,109 shares of the company’s stock worth $2,605,000 after buying an additional 4,512 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Magnolia Oil & Gas by 8.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 242,880 shares of the company’s stock worth $6,135,000 after buying an additional 18,447 shares during the last quarter. Intech Investment Management LLC raised its holdings in Magnolia Oil & Gas by 11.3% in the first quarter. Intech Investment Management LLC now owns 68,814 shares of the company’s stock valued at $1,738,000 after acquiring an additional 7,008 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in Magnolia Oil & Gas by 165.5% in the second quarter. EverSource Wealth Advisors LLC now owns 1,386 shares of the company’s stock valued at $31,000 after acquiring an additional 864 shares in the last quarter. Institutional investors and hedge funds own 94.73% of the company’s stock.

Magnolia Oil & Gas Stock Up 1.4%

Shares of Magnolia Oil & Gas stock opened at $27.27 on Friday. Magnolia Oil & Gas Corp has a twelve month low of $21.07 and a twelve month high of $32.76. The stock has a market capitalization of $5.04 billion, a price-to-earnings ratio of 15.85 and a beta of 0.70. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.19. The business’s 50 day simple moving average is $27.36 and its 200-day simple moving average is $27.30.

Magnolia Oil & Gas (NYSE:MGY) last posted its earnings results on Wednesday, May 6th. The company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $358.51 million for the quarter, compared to analysts’ expectations of $349.89 million. During the same period last year, the business posted $0.54 earnings per share. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. Equities research analysts forecast that Magnolia Oil & Gas Corp will post 2.67 earnings per share for the current year.

Magnolia Oil & Gas Dividend Announcement

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

Analyst Ratings Changes

A number of research analysts have commented on the stock. Weiss Ratings downgraded shares of Magnolia Oil & Gas from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, May 21st. UBS Group cut their target price on shares of Magnolia Oil & Gas from $38.00 to $34.00 and set a “buy” rating on the stock in a research note on Friday, July 10th. Roth Capital raised shares of Magnolia Oil & Gas from a “neutral” rating to a “buy” rating and set a $31.00 price target on the stock in a research report on Monday, June 22nd. Citigroup reduced their price target 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. Finally, 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. Eight research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $31.08.

About Magnolia Oil & Gas

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).