Magnolia Oil & Gas Co. (NYSE:MGY) Shares Acquired by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP raised its holdings in shares of Magnolia Oil & Gas Co. (NYSE:MGY) by 16.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,520,725 shares of the company’s stock after purchasing an additional 627,933 shares during the period. Dimensional Fund Advisors LP owned 2.23% of Magnolia Oil & Gas worth $114,554,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Magnolia Oil & Gas by 16.6% in the first quarter. Vanguard Group Inc. now owns 20,757,369 shares of the company’s stock valued at $538,654,000 after purchasing an additional 2,956,314 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Magnolia Oil & Gas by 2,799.2% during the 1st quarter. Principal Financial Group Inc. now owns 1,881,039 shares of the company’s stock worth $48,813,000 after purchasing an additional 1,816,158 shares during the last quarter. First Trust Advisors LP raised its position in shares of Magnolia Oil & Gas by 20.2% during the 4th quarter. First Trust Advisors LP now owns 10,126,891 shares of the company’s stock worth $215,602,000 after purchasing an additional 1,704,982 shares during the last quarter. Ranger Investment Management L.P. acquired a new position in shares of Magnolia Oil & Gas during the 4th quarter worth about $25,226,000. Finally, Jacobs Levy Equity Management Inc. purchased a new stake in shares of Magnolia Oil & Gas in the 1st quarter valued at approximately $30,161,000. 94.73% of the stock is owned by hedge funds and other institutional investors.

Magnolia Oil & Gas Price Performance

Shares of NYSE:MGY opened at $26.28 on Tuesday. The company’s fifty day moving average price is $25.14 and its 200 day moving average price is $25.30. Magnolia Oil & Gas Co. has a 12 month low of $19.16 and a 12 month high of $27.63. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.28 and a quick ratio of 1.28. The firm has a market capitalization of $5.33 billion, a P/E ratio of 13.07, a P/E/G ratio of 1.18 and a beta of 2.00.

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

Magnolia Oil & Gas Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were paid a dividend of $0.13 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $0.52 annualized dividend and a yield of 1.98%. Magnolia Oil & Gas’s dividend payout ratio is currently 25.87%.

Analyst Ratings Changes

A number of research firms recently weighed in on MGY. Wolfe Research started coverage on shares of Magnolia Oil & Gas in a research report on Thursday, July 18th. They set an “outperform” rating and a $32.00 price objective for the company. JPMorgan Chase & Co. decreased their price target on shares of Magnolia Oil & Gas from $26.00 to $23.00 and set a “neutral” rating for the company in a research report on Thursday, September 12th. Bank of America raised their price target on shares of Magnolia Oil & Gas from $28.00 to $29.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Truist Financial raised their price target on shares of Magnolia Oil & Gas from $34.00 to $35.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Finally, Mizuho decreased their price target on shares of Magnolia Oil & Gas from $28.00 to $27.00 and set a “neutral” rating for the company in a research report on Monday, September 16th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Magnolia Oil & Gas presently has an average rating of “Hold” and a consensus target price of $28.00.

Magnolia Oil & Gas Profile

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.