Smartleaf Asset Management LLC Has $128,000 Stake in Magnolia Oil & Gas Corp $MGY

Smartleaf Asset Management LLC boosted its position in shares of Magnolia Oil & Gas Corp (NYSE:MGY) by 34.3% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,072 shares of the company’s stock after buying an additional 1,295 shares during the period. Smartleaf Asset Management LLC’s holdings in Magnolia Oil & Gas were worth $128,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of MGY. Nuveen LLC acquired a new stake in Magnolia Oil & Gas during the first quarter worth about $21,066,000. Janus Henderson Group PLC grew its stake in Magnolia Oil & Gas by 11.7% during the fourth quarter. Janus Henderson Group PLC now owns 6,396,875 shares of the company’s stock worth $149,559,000 after buying an additional 667,973 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Magnolia Oil & Gas by 12.5% during the first quarter. Dimensional Fund Advisors LP now owns 5,365,892 shares of the company’s stock worth $135,541,000 after buying an additional 597,845 shares in the last quarter. American Century Companies Inc. grew its stake in Magnolia Oil & Gas by 5.7% during the first quarter. American Century Companies Inc. now owns 10,502,353 shares of the company’s stock worth $265,289,000 after buying an additional 562,223 shares in the last quarter. Finally, Ruffer LLP acquired a new stake in Magnolia Oil & Gas during the first quarter worth about $6,577,000. 94.73% of the stock is currently owned by institutional investors and hedge funds.

Magnolia Oil & Gas Stock Up 2.5%

NYSE:MGY opened at $24.75 on Thursday. The firm’s 50 day simple moving average is $23.53 and its 200 day simple moving average is $22.98. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.44 and a quick ratio of 1.44. Magnolia Oil & Gas Corp has a one year low of $19.09 and a one year high of $29.02. The company has a market cap of $4.72 billion, a PE ratio of 12.96, a P/E/G ratio of 3.16 and a beta of 1.31.

Magnolia Oil & Gas (NYSE:MGY) last posted its earnings results on Wednesday, July 30th. The company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.40 by $0.03. Magnolia Oil & Gas had a net margin of 27.57% and a return on equity of 19.34%. The business had revenue of $318.98 million for the quarter, compared to the consensus estimate of $311.58 million. During the same period last year, the company earned $0.51 EPS. The firm’s revenue was down 5.3% compared to the same quarter last year. On average, research analysts anticipate that Magnolia Oil & Gas Corp will post 2.1 earnings per share for the current year.

Magnolia Oil & Gas Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Monday, August 11th will be issued a dividend of $0.15 per share. The ex-dividend date is Monday, August 11th. This represents a $0.60 annualized dividend and a yield of 2.4%. Magnolia Oil & Gas’s dividend payout ratio (DPR) is presently 31.41%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on MGY. UBS Group reiterated a “buy” rating and set a $29.00 price objective (up from $26.00) on shares of Magnolia Oil & Gas in a research note on Friday, June 13th. Piper Sandler increased their target price on shares of Magnolia Oil & Gas from $24.00 to $25.00 and gave the stock a “neutral” rating in a report on Thursday, July 17th. William Blair assumed coverage on shares of Magnolia Oil & Gas in a report on Monday. They issued an “outperform” rating for the company. Bank of America increased their target price on shares of Magnolia Oil & Gas from $23.00 to $25.00 and gave the stock a “neutral” rating in a report on Friday, May 23rd. Finally, Wells Fargo & Company dropped their target price on shares of Magnolia Oil & Gas from $22.00 to $21.00 and set an “underweight” rating for the company in a report on Monday, June 16th. Four investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $26.67.

Magnolia Oil & Gas Profile

Magnolia Oil & Gas Corp. engages in the acquisition, development, exploration, and production of oil and natural gas properties. It operates assets located in the Eagle Ford Shale and Austin Chalk formations in South Texas. The company was founded on February 14, 2017 and is headquartered in Houston, TX.