Y Intercept Hong Kong Ltd Boosts Holdings in Magnolia Oil & Gas Corp $MGY

Y Intercept Hong Kong Ltd lifted its holdings in Magnolia Oil & Gas Corp (NYSE:MGY) by 481.9% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 153,445 shares of the company’s stock after purchasing an additional 127,077 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Magnolia Oil & Gas were worth $4,844,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Salomon & Ludwin LLC boosted its position in Magnolia Oil & Gas by 130.1% in the 4th quarter. Salomon & Ludwin LLC now owns 1,344 shares of the company’s stock valued at $29,000 after buying an additional 760 shares during the period. EverSource Wealth Advisors LLC raised its stake in shares of Magnolia Oil & Gas by 165.5% in the second quarter. EverSource Wealth Advisors LLC now owns 1,386 shares of the company’s stock valued at $31,000 after acquiring an additional 864 shares in the last quarter. Torren Management LLC purchased a new position in Magnolia Oil & Gas in the fourth quarter valued at $38,000. Parallel Advisors LLC boosted its holdings in Magnolia Oil & Gas by 79.8% in the fourth quarter. Parallel Advisors LLC now owns 1,769 shares of the company’s stock valued at $39,000 after purchasing an additional 785 shares during the period. Finally, First Horizon Corp boosted its holdings in Magnolia Oil & Gas by 159.8% in the fourth quarter. First Horizon Corp now owns 1,889 shares of the company’s stock valued at $41,000 after purchasing an additional 1,162 shares during the period. 94.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MGY has been the topic of several recent research reports. KeyCorp restated an “overweight” rating on shares of Magnolia Oil & Gas in a report on Monday, June 29th. Zacks Research cut Magnolia Oil & Gas from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 19th. Weiss Ratings downgraded Magnolia Oil & Gas from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, May 21st. Piper Sandler upped their target price on shares of Magnolia Oil & Gas from $28.00 to $31.00 and gave the stock a “neutral” rating in a research note on Thursday, March 12th. Finally, Roth Mkm upgraded shares of Magnolia Oil & Gas from a “neutral” rating to a “buy” rating and set a $31.00 target price on the stock in a research note on Monday, June 22nd. Eight investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $31.33.

Magnolia Oil & Gas Stock Performance

Shares of Magnolia Oil & Gas stock opened at $25.14 on Monday. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.19. Magnolia Oil & Gas Corp has a 52 week low of $21.07 and a 52 week high of $32.76. The firm’s 50 day moving average is $27.97 and its two-hundred day moving average is $27.02. The firm has a market capitalization of $4.65 billion, a P/E ratio of 14.62 and a beta of 0.70.

Magnolia Oil & Gas (NYSE:MGY) last issued its earnings results on Wednesday, May 6th. The company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.03. The business had revenue of $358.51 million during the quarter, compared to analysts’ expectations of $349.89 million. Magnolia Oil & Gas had a net margin of 24.40% and a return on equity of 16.28%. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.54 EPS. Research analysts forecast that Magnolia Oil & Gas Corp will post 2.83 EPS for the current fiscal year.

Magnolia Oil & Gas Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Tuesday, May 12th were given a $0.165 dividend. The ex-dividend date of this dividend was Tuesday, May 12th. This represents a $0.66 dividend on an annualized basis and a yield of 2.6%. Magnolia Oil & Gas’s payout ratio is 38.37%.

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).