Magnolia Oil & Gas Co. (NYSE:MGY) Stake Increased by Renaissance Technologies LLC

Renaissance Technologies LLC raised its stake in shares of Magnolia Oil & Gas Co. (NYSE:MGY) by 18.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 500,700 shares of the company’s stock after acquiring an additional 77,800 shares during the quarter. Renaissance Technologies LLC owned approximately 0.25% of Magnolia Oil & Gas worth $12,688,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Lindbrook Capital LLC lifted its position in shares of Magnolia Oil & Gas by 61.5% during the first quarter. Lindbrook Capital LLC now owns 1,647 shares of the company’s stock worth $43,000 after purchasing an additional 627 shares during the last quarter. Commerce Bank increased its holdings in shares of Magnolia Oil & Gas by 4.0% in the 4th quarter. Commerce Bank now owns 24,820 shares of the company’s stock valued at $528,000 after acquiring an additional 945 shares during the last quarter. Fulton Bank N.A. raised its position in shares of Magnolia Oil & Gas by 10.3% during the 2nd quarter. Fulton Bank N.A. now owns 10,411 shares of the company’s stock valued at $264,000 after acquiring an additional 968 shares in the last quarter. Massmutual Trust Co. FSB ADV lifted its stake in Magnolia Oil & Gas by 1,753.6% during the second quarter. Massmutual Trust Co. FSB ADV now owns 1,038 shares of the company’s stock worth $26,000 after purchasing an additional 982 shares during the last quarter. Finally, Mather Group LLC. acquired a new position in Magnolia Oil & Gas in the first quarter worth $27,000. 94.73% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently issued reports on MGY shares. Bank of America raised their price target on shares of Magnolia Oil & Gas from $28.00 to $29.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Wells Fargo & Company lowered their target price on Magnolia Oil & Gas from $27.00 to $26.00 and set an “equal weight” rating for the company in a report on Monday, August 5th. Wolfe Research started coverage on Magnolia Oil & Gas in a report on Thursday, July 18th. They issued an “outperform” rating and a $32.00 price target on the stock. Susquehanna reduced their price target on shares of Magnolia Oil & Gas from $33.00 to $32.00 and set a “positive” rating for the company in a report on Wednesday, September 4th. Finally, Benchmark reaffirmed a “hold” rating on shares of Magnolia Oil & Gas in a report on Thursday, July 18th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $28.00.

Magnolia Oil & Gas Trading Up 0.3 %

Magnolia Oil & Gas stock opened at $26.00 on Monday. The stock has a market capitalization of $5.27 billion, a PE ratio of 12.94, a price-to-earnings-growth ratio of 1.18 and a beta of 2.00. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.28 and a quick ratio of 1.28. Magnolia Oil & Gas Co. has a 12-month low of $19.16 and a 12-month high of $27.63. The firm has a 50 day simple moving average of $25.16 and a 200-day simple moving average of $25.28.

Magnolia Oil & Gas (NYSE:MGY) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.05. The company had revenue of $336.73 million for the quarter, compared to the consensus estimate of $340.72 million. Magnolia Oil & Gas had a return on equity of 21.18% and a net margin of 29.44%. As a group, equities research analysts expect that Magnolia Oil & Gas Co. will post 2.08 EPS for the current fiscal year.

Magnolia Oil & Gas Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date of this dividend was Friday, August 9th. Magnolia Oil & Gas’s payout ratio is 25.87%.

About Magnolia Oil & Gas

Magnolia Oil & Gas Corporation, an independent oil and natural gas company, engages in the acquisition, development, exploration, and production of oil, natural gas, and natural gas liquids reserves in the United States. Its properties are located primarily in Karnes County and the Giddings area in South Texas principally comprising the Eagle Ford Shale and the Austin Chalk formation.