Magnolia Oil & Gas Corp $MGY Shares Bought by Heartland Advisors Inc.

Heartland Advisors Inc. grew its position in Magnolia Oil & Gas Corp (NYSE:MGY) by 92.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 576,290 shares of the company’s stock after buying an additional 276,290 shares during the quarter. Heartland Advisors Inc. owned 0.30% of Magnolia Oil & Gas worth $13,756,000 as of its most recent filing with the Securities and Exchange Commission.

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

Magnolia Oil & Gas Trading Up 3.0%

NYSE:MGY opened at $26.77 on Tuesday. Magnolia Oil & Gas Corp has a 52-week low of $19.09 and a 52-week 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 company has a market capitalization of $5.05 billion, a PE ratio of 15.56 and a beta of 0.96. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 0.20.

Magnolia Oil & Gas (NYSE:MGY) last released its quarterly earnings data on Thursday, February 5th. The company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.01. The firm had revenue of $317.63 million during the quarter, compared to analysts’ expectations of $322.18 million. Magnolia Oil & Gas had a return on equity of 16.67% and a net margin of 24.79%.Magnolia Oil & Gas’s revenue was down 2.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.44 earnings per share. On average, research analysts anticipate that Magnolia Oil & Gas Corp will post 2.1 EPS for the current year.

Magnolia Oil & Gas Increases Dividend

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

Analyst Upgrades and Downgrades

MGY has been the subject of several recent research reports. Piper Sandler lifted their price objective on Magnolia Oil & Gas from $23.00 to $26.00 and gave the company a “neutral” rating in a research note on Tuesday, February 10th. Wells Fargo & Company set a $25.00 target price on shares of Magnolia Oil & Gas in a report on Monday. Benchmark reiterated a “hold” rating on shares of Magnolia Oil & Gas in a report on Wednesday, January 21st. UBS Group restated a “buy” rating and issued a $29.00 price objective on shares of Magnolia Oil & Gas in a report on Friday, January 9th. Finally, Mizuho set a $30.00 price objective on shares of Magnolia Oil & Gas in a research report on Friday, February 6th. Nine research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $27.25.

Magnolia Oil & Gas Company 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).