DRW Securities LLC Purchases Shares of 54,800 Magnolia Oil & Gas Co. (NYSE:MGY)

DRW Securities LLC acquired a new position in shares of Magnolia Oil & Gas Co. (NYSE:MGY) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 54,800 shares of the company’s stock, valued at approximately $1,389,000.

Several other large investors have also modified their holdings of MGY. Vanguard Group Inc. raised its stake in Magnolia Oil & Gas by 16.6% during the 1st quarter. Vanguard Group Inc. now owns 20,757,369 shares of the company’s stock worth $538,654,000 after acquiring an additional 2,956,314 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of Magnolia Oil & Gas by 2,799.2% during the first 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 increased its position in shares of Magnolia Oil & Gas by 20.2% during the fourth 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 in the last quarter. Ranger Investment Management L.P. purchased a new stake in shares of Magnolia Oil & Gas in the 4th quarter valued at about $25,226,000. Finally, Jacobs Levy Equity Management Inc. acquired a new stake in shares of Magnolia Oil & Gas in the 1st quarter valued at about $30,161,000. Institutional investors and hedge funds own 94.73% of the company’s stock.

Magnolia Oil & Gas Price Performance

Shares of NYSE:MGY opened at $26.00 on Monday. Magnolia Oil & Gas Co. has a 52 week low of $19.16 and a 52 week high of $27.63. The company has a 50-day moving average price of $25.16 and a 200 day moving average price of $25.28. The company has a market cap of $5.27 billion, a P/E ratio of 12.94, a PEG ratio of 1.18 and a beta of 2.00. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.21.

Magnolia Oil & Gas (NYSE:MGY) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $0.56 EPS for the quarter, beating the consensus estimate of $0.51 by $0.05. Magnolia Oil & Gas had a return on equity of 21.18% and a net margin of 29.44%. The business had revenue of $336.73 million during the quarter, compared to analysts’ expectations of $340.72 million. Research analysts predict that Magnolia Oil & Gas Co. will post 2.08 earnings per share for the current year.

Magnolia Oil & Gas Announces Dividend

The firm also recently announced 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 was Friday, August 9th. Magnolia Oil & Gas’s dividend payout ratio (DPR) is currently 25.87%.

Analysts Set New Price Targets

Several research firms have commented on MGY. Benchmark reaffirmed a “hold” rating on shares of Magnolia Oil & Gas in a research report on Thursday, July 18th. Susquehanna lowered their target price on shares of Magnolia Oil & Gas from $33.00 to $32.00 and set a “positive” rating on the stock in a research report on Wednesday, September 4th. Wolfe Research started coverage on shares of Magnolia Oil & Gas in a research report on Thursday, July 18th. They issued an “outperform” rating and a $32.00 price target for the company. JPMorgan Chase & Co. lowered their price objective on shares of Magnolia Oil & Gas from $26.00 to $23.00 and set a “neutral” rating on the stock in a research report on Thursday, September 12th. Finally, Mizuho dropped their price objective on shares of Magnolia Oil & Gas from $28.00 to $27.00 and set a “neutral” rating on the stock in a research note on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $28.00.

Magnolia Oil & Gas Company 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.