Heartland Advisors Inc. Increases Stock Holdings in Magnolia Oil & Gas Corp $MGY

Heartland Advisors Inc. increased its holdings in Magnolia Oil & Gas Corp (NYSE:MGY) by 92.1% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 576,290 shares of the company’s stock after buying an additional 276,290 shares during the period. Heartland Advisors Inc.’s holdings in Magnolia Oil & Gas were worth $13,756,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. American Century Companies Inc. grew its holdings in Magnolia Oil & Gas by 12.9% during the 2nd quarter. American Century Companies Inc. now owns 11,861,231 shares of the company’s stock valued at $266,641,000 after buying an additional 1,358,878 shares during the last quarter. Geode Capital Management LLC raised its stake in Magnolia Oil & Gas by 5.6% in the 2nd quarter. Geode Capital Management LLC now owns 4,531,855 shares of the company’s stock valued at $101,895,000 after purchasing an additional 238,356 shares during the last quarter. Systematic Financial Management LP grew its stake in Magnolia Oil & Gas by 0.8% in the 2nd quarter. Systematic Financial Management LP now owns 3,013,800 shares of the company’s stock worth $67,750,000 after acquiring an additional 24,054 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in shares of Magnolia Oil & Gas by 16.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,360,238 shares of the company’s stock worth $53,058,000 after acquiring an additional 333,566 shares during the period. Finally, Balyasny Asset Management L.P. boosted its position in shares of Magnolia Oil & Gas by 14.8% in the second quarter. Balyasny Asset Management L.P. now owns 2,229,450 shares of the company’s stock worth $50,118,000 after acquiring an additional 287,414 shares during the last quarter. 94.73% of the stock is currently owned by institutional investors and hedge funds.

Magnolia Oil & Gas Stock Performance

Magnolia Oil & Gas stock opened at $26.77 on Tuesday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.54 and a current ratio of 1.54. Magnolia Oil & Gas Corp has a one year low of $19.09 and a one year high of $27.47. The stock’s 50 day moving average price is $23.48 and its 200 day moving average price is $23.48. The firm has a market capitalization of $5.05 billion, a PE ratio of 15.56 and a beta of 0.96.

Magnolia Oil & Gas (NYSE:MGY) last announced its earnings results on Thursday, February 5th. The company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.01. Magnolia Oil & Gas had a net margin of 24.79% and a return on equity of 16.67%. The business had revenue of $317.63 million during the quarter, compared to the consensus estimate of $322.18 million. During the same period in the prior year, the firm earned $0.44 earnings per share. The business’s quarterly revenue was down 2.8% compared to the same quarter last year. As a group, sell-side analysts expect that Magnolia Oil & Gas Corp will post 2.1 EPS for the current fiscal year.

Magnolia Oil & Gas Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 2nd. Investors of record on Tuesday, February 10th will be issued a $0.165 dividend. This is an increase from Magnolia Oil & Gas’s previous quarterly dividend of $0.15. This represents a $0.66 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend is Tuesday, February 10th. Magnolia Oil & Gas’s dividend payout ratio (DPR) is currently 38.37%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Susquehanna decreased their price target on shares of Magnolia Oil & Gas from $30.00 to $28.00 and set a “positive” rating on the stock in a report on Monday, January 26th. Wells Fargo & Company set a $25.00 price target on Magnolia Oil & Gas in a research report on Monday. BMO Capital Markets began coverage on Magnolia Oil & Gas in a report on Friday, January 9th. They issued an “outperform” rating and a $27.00 price objective on the stock. UBS Group reiterated a “buy” rating and set a $29.00 target price on shares of Magnolia Oil & Gas in a report on Friday, January 9th. Finally, Roth Mkm restated a “buy” rating on shares of Magnolia Oil & Gas in a report on Tuesday, February 10th. Nine research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $27.25.

Magnolia Oil & Gas Profile

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).