TD Asset Management Inc Buys 1,601,809 Shares of Magnolia Oil & Gas Corp $MGY

TD Asset Management Inc raised its stake in Magnolia Oil & Gas Corp (NYSE:MGY) by 55.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,478,361 shares of the company’s stock after acquiring an additional 1,601,809 shares during the period. TD Asset Management Inc owned approximately 2.37% of Magnolia Oil & Gas worth $106,898,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Magnolia Oil & Gas by 236.2% in the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,190 shares of the company’s stock worth $27,000 after purchasing an additional 836 shares during the period. Mather Group LLC. acquired a new position in Magnolia Oil & Gas during the third quarter valued at approximately $31,000. EverSource Wealth Advisors LLC raised its position in Magnolia Oil & Gas by 165.5% during the second quarter. EverSource Wealth Advisors LLC now owns 1,386 shares of the company’s stock valued at $31,000 after purchasing an additional 864 shares in the last quarter. Geneos Wealth Management Inc. lifted its stake in Magnolia Oil & Gas by 90.5% during the second quarter. Geneos Wealth Management Inc. now owns 2,212 shares of the company’s stock worth $50,000 after purchasing an additional 1,051 shares during the last quarter. Finally, Nisa Investment Advisors LLC boosted its holdings in shares of Magnolia Oil & Gas by 31.5% in the 3rd quarter. Nisa Investment Advisors LLC now owns 3,003 shares of the company’s stock valued at $72,000 after purchasing an additional 720 shares in the last quarter. 94.73% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently commented on MGY shares. Susquehanna lowered their price target on Magnolia Oil & Gas from $30.00 to $28.00 and set a “positive” rating for the company in a report on Monday, January 26th. Weiss Ratings reissued a “hold (c)” rating on shares of Magnolia Oil & Gas in a research note on Thursday, January 22nd. The Goldman Sachs Group increased their target price on shares of Magnolia Oil & Gas from $23.00 to $26.00 and gave the stock a “neutral” rating in a report on Wednesday, February 11th. BMO Capital Markets started coverage on shares of Magnolia Oil & Gas in a report on Friday, January 9th. They set an “outperform” rating and a $27.00 price target on the stock. Finally, Bank of America upgraded shares of Magnolia Oil & Gas from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $26.00 to $28.00 in a research report on Friday, January 16th. Eight equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, Magnolia Oil & Gas currently has a consensus rating of “Moderate Buy” and a consensus price target of $27.58.

Magnolia Oil & Gas Stock Performance

Magnolia Oil & Gas stock opened at $27.03 on Thursday. The business has a 50 day moving average of $24.10 and a 200-day moving average of $23.63. Magnolia Oil & Gas Corp has a 1 year low of $19.09 and a 1 year high of $27.52. 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 company has a market capitalization of $5.04 billion, a P/E ratio of 15.71 and a beta of 0.96.

Magnolia Oil & Gas (NYSE:MGY) last posted its earnings results on Thursday, February 5th. The company reported $0.37 EPS for the quarter, topping 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 for the quarter, compared to the consensus estimate of $322.18 million. During the same period last year, the company earned $0.44 EPS. The firm’s revenue was down 2.8% compared to the same quarter last year. On average, equities research analysts predict that Magnolia Oil & Gas Corp will post 2.1 earnings per share for the current year.

Magnolia Oil & Gas Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 2nd. Investors of record on Tuesday, February 10th will be paid a $0.165 dividend. This is a positive change from Magnolia Oil & Gas’s previous quarterly dividend of $0.15. This represents a $0.66 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend is Tuesday, February 10th. Magnolia Oil & Gas’s payout ratio is presently 38.37%.

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).