Inceptionr LLC Makes New Investment in Magnolia Oil & Gas Corp $MGY

Inceptionr LLC purchased a new stake in shares of Magnolia Oil & Gas Corp (NYSE:MGY) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 28,655 shares of the company’s stock, valued at approximately $684,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. American Century Companies Inc. raised its holdings 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 worth $266,641,000 after acquiring an additional 1,358,878 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Magnolia Oil & Gas by 4.7% during the 3rd quarter. Dimensional Fund Advisors LP now owns 6,369,713 shares of the company’s stock valued at $152,051,000 after acquiring an additional 283,444 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of 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 period. TD Asset Management Inc grew its position in Magnolia Oil & Gas by 55.7% in the third quarter. TD Asset Management Inc now owns 4,478,361 shares of the company’s stock valued at $106,898,000 after acquiring an additional 1,601,809 shares during the period. Finally, Systematic Financial Management LP grew its holdings in shares of 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 purchasing an additional 24,054 shares during the last quarter. 94.73% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MGY has been the subject of a number of research reports. The Goldman Sachs Group raised their target price on Magnolia Oil & Gas from $23.00 to $26.00 and gave the company a “neutral” rating in a research note on Wednesday, February 11th. Piper Sandler lifted their price objective on Magnolia Oil & Gas from $26.00 to $28.00 and gave the stock a “neutral” rating in a research note on Thursday, March 5th. Susquehanna decreased their target price on Magnolia Oil & Gas from $30.00 to $28.00 and set a “positive” rating for the company in a research report on Monday, January 26th. Siebert Williams Shank cut Magnolia Oil & Gas from a “buy” rating to a “hold” rating in a research note on Friday, March 6th. Finally, KeyCorp lifted their price objective on shares of Magnolia Oil & Gas from $29.00 to $30.00 and gave the stock an “overweight” rating in a research note on Monday, February 9th. Eight investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $28.18.

Magnolia Oil & Gas Stock Down 1.1%

Shares of Magnolia Oil & Gas stock opened at $28.74 on Wednesday. The company has a market capitalization of $5.36 billion, a P/E ratio of 16.71 and a beta of 0.89. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.54 and a quick ratio of 1.54. The business has a 50-day moving average of $25.31 and a two-hundred day moving average of $23.95. Magnolia Oil & Gas Corp has a 1 year low of $19.09 and a 1 year high of $29.74.

Magnolia Oil & Gas (NYSE:MGY) last released its quarterly earnings data 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 return on equity of 16.67% and a net margin of 24.79%.The business had revenue of $317.63 million for the quarter, compared to analysts’ expectations of $322.18 million. During the same quarter in the previous year, the business posted $0.44 EPS. Magnolia Oil & Gas’s revenue for the quarter was down 2.8% on a year-over-year basis. As a group, equities analysts predict that Magnolia Oil & Gas Corp will post 2.1 EPS for the current year.

Magnolia Oil & Gas Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 2nd. Stockholders of record on Tuesday, February 10th were issued a $0.165 dividend. This represents a $0.66 annualized dividend and a dividend yield of 2.3%. This is a boost from Magnolia Oil & Gas’s previous quarterly dividend of $0.15. The ex-dividend date was Tuesday, February 10th. Magnolia Oil & Gas’s dividend payout ratio is currently 38.37%.

About Magnolia Oil & Gas

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).