Epoch Investment Partners Inc. Acquires 1,191,438 Shares of Magnolia Oil & Gas Corp $MGY

Epoch Investment Partners Inc. grew its holdings in Magnolia Oil & Gas Corp (NYSE:MGY) by 28.8% in the 4th quarter, Holdings Channel reports. The fund owned 5,330,064 shares of the company’s stock after purchasing an additional 1,191,438 shares during the quarter. Epoch Investment Partners Inc.’s holdings in Magnolia Oil & Gas were worth $116,675,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Salomon & Ludwin LLC increased its holdings in shares of Magnolia Oil & Gas by 130.1% in the fourth quarter. Salomon & Ludwin LLC now owns 1,344 shares of the company’s stock worth $29,000 after acquiring an additional 760 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings 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 worth $31,000 after acquiring an additional 864 shares in the last quarter. Torren Management LLC bought a new stake in shares of Magnolia Oil & Gas in the fourth quarter worth about $38,000. Parallel Advisors LLC increased its holdings in shares of Magnolia Oil & Gas by 79.8% in the fourth quarter. Parallel Advisors LLC now owns 1,769 shares of the company’s stock worth $39,000 after acquiring an additional 785 shares in the last quarter. Finally, First Horizon Corp increased its holdings in shares of Magnolia Oil & Gas by 159.8% in the fourth quarter. First Horizon Corp now owns 1,889 shares of the company’s stock worth $41,000 after acquiring an additional 1,162 shares in the last quarter. 94.73% of the stock is currently owned by institutional investors.

Magnolia Oil & Gas Stock Up 1.3%

MGY stock opened at $27.59 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.10 and a quick ratio of 1.10. The stock has a market capitalization of $5.10 billion, a P/E ratio of 16.04 and a beta of 0.71. The business has a 50-day moving average of $28.92 and a 200-day moving average of $26.65. Magnolia Oil & Gas Corp has a fifty-two week low of $21.07 and a fifty-two week high of $32.76.

Magnolia Oil & Gas (NYSE:MGY) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.03. The company had revenue of $358.51 million during the quarter, compared to analysts’ expectations of $349.89 million. Magnolia Oil & Gas had a return on equity of 16.28% and a net margin of 24.40%.Magnolia Oil & Gas’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.54 earnings per share. On average, sell-side analysts anticipate that Magnolia Oil & Gas Corp will post 2.82 earnings per share for the current fiscal year.

Magnolia Oil & Gas Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Tuesday, May 12th were given a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend was Tuesday, May 12th. Magnolia Oil & Gas’s dividend payout ratio is currently 38.37%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on MGY shares. Roth Mkm restated a “neutral” rating and issued a $32.00 price target (up from $29.00) on shares of Magnolia Oil & Gas in a report on Wednesday, April 8th. Siebert Williams Shank downgraded Magnolia Oil & Gas from a “buy” rating to a “hold” rating in a report on Friday, March 6th. Zacks Research downgraded Magnolia Oil & Gas from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 19th. KeyCorp upped their price objective on Magnolia Oil & Gas from $30.00 to $38.00 and gave the stock an “overweight” rating in a research report on Thursday, April 2nd. Finally, UBS Group upped their price objective on Magnolia Oil & Gas from $29.00 to $35.00 and gave the stock a “buy” rating in a research report on Thursday, March 5th. Seven investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Magnolia Oil & Gas currently has an average rating of “Hold” and a consensus target price of $31.42.

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).