TimesSquare Capital Management LLC Boosts Stock Position in Magnolia Oil & Gas Co. (NYSE:MGY)

TimesSquare Capital Management LLC raised its position in Magnolia Oil & Gas Co. (NYSE:MGY) by 10.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 884,709 shares of the company’s stock after purchasing an additional 81,130 shares during the period. TimesSquare Capital Management LLC’s holdings in Magnolia Oil & Gas were worth $18,835,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. abrdn plc purchased a new stake in Magnolia Oil & Gas in the 3rd quarter valued at about $28,249,000. American Century Companies Inc. increased its position in Magnolia Oil & Gas by 24.7% during the third quarter. American Century Companies Inc. now owns 6,009,953 shares of the company’s stock worth $137,688,000 after purchasing an additional 1,188,536 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in Magnolia Oil & Gas by 9.9% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 3,041,390 shares of the company’s stock worth $64,751,000 after purchasing an additional 274,908 shares during the period. Vest Financial LLC boosted its holdings in shares of Magnolia Oil & Gas by 51.4% in the 4th quarter. Vest Financial LLC now owns 606,277 shares of the company’s stock valued at $12,908,000 after purchasing an additional 205,924 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Magnolia Oil & Gas by 12.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,735,955 shares of the company’s stock valued at $39,771,000 after buying an additional 195,467 shares during the period. 94.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on MGY shares. Citigroup increased their target price on Magnolia Oil & Gas from $18.00 to $22.00 and gave the stock a “sell” rating in a research report on Monday, April 15th. The Goldman Sachs Group lifted their price objective on Magnolia Oil & Gas from $24.50 to $28.00 and gave the company a “buy” rating in a research note on Tuesday, March 26th. Truist Financial increased their target price on shares of Magnolia Oil & Gas from $32.00 to $33.00 and gave the stock a “buy” rating in a research report on Friday, February 16th. Susquehanna lifted their price target on shares of Magnolia Oil & Gas from $28.00 to $31.00 and gave the company a “positive” rating in a research report on Monday, April 22nd. Finally, Piper Sandler reissued a “neutral” rating and issued a $29.00 price objective on shares of Magnolia Oil & Gas in a research report on Friday, April 19th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $27.63.

Magnolia Oil & Gas Stock Down 0.2 %

Shares of MGY stock traded down $0.04 on Friday, hitting $26.33. The stock had a trading volume of 60,806 shares, compared to its average volume of 3,093,710. Magnolia Oil & Gas Co. has a 52-week low of $18.92 and a 52-week high of $27.33. The firm has a market capitalization of $5.38 billion, a price-to-earnings ratio of 13.18, a P/E/G ratio of 1.52 and a beta of 2.03. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.88 and a current ratio of 1.88. The stock’s 50 day moving average is $25.34 and its 200-day moving average is $22.67.

Magnolia Oil & Gas (NYSE:MGY) last posted its quarterly earnings data on Wednesday, February 14th. The company reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.04). Magnolia Oil & Gas had a net margin of 31.65% and a return on equity of 21.21%. The firm had revenue of $322.63 million during the quarter, compared to analysts’ expectations of $324.95 million. As a group, research analysts expect that Magnolia Oil & Gas Co. will post 2.11 earnings per share for the current year.

Magnolia Oil & Gas Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 13th will be paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 1.97%. The ex-dividend date is Friday, May 10th. Magnolia Oil & Gas’s dividend payout ratio (DPR) is currently 25.87%.

About Magnolia Oil & Gas

Magnolia Oil & Gas Corporation, an independent oil and natural gas company, engages in the acquisition, development, exploration, and production of oil, natural gas, and natural gas liquids reserves in the United States. Its properties are located primarily in Karnes County and the Giddings area in South Texas principally comprising the Eagle Ford Shale and the Austin Chalk formation.