Charles Schwab Investment Management Inc. Has $58.48 Million Stake in Magnolia Oil & Gas Corp (NYSE:MGY)

Charles Schwab Investment Management Inc. boosted its stake in shares of Magnolia Oil & Gas Corp (NYSE:MGY) by 11.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,315,012 shares of the company’s stock after acquiring an additional 238,471 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.19% of Magnolia Oil & Gas worth $58,477,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Opal Wealth Advisors LLC acquired a new position in Magnolia Oil & Gas during the first quarter worth $30,000. Quarry LP raised its stake in Magnolia Oil & Gas by 1,047.8% during the fourth quarter. Quarry LP now owns 2,135 shares of the company’s stock worth $50,000 after acquiring an additional 1,949 shares in the last quarter. Parallel Advisors LLC raised its stake in Magnolia Oil & Gas by 122.8% during the first quarter. Parallel Advisors LLC now owns 2,308 shares of the company’s stock worth $58,000 after acquiring an additional 1,272 shares in the last quarter. Farther Finance Advisors LLC raised its stake in Magnolia Oil & Gas by 16.8% during the first quarter. Farther Finance Advisors LLC now owns 4,366 shares of the company’s stock worth $111,000 after acquiring an additional 629 shares in the last quarter. Finally, Pacer Advisors Inc. acquired a new position in Magnolia Oil & Gas during the first quarter worth $136,000. 94.73% of the stock is currently owned by institutional investors and hedge funds.

Magnolia Oil & Gas Price Performance

Magnolia Oil & Gas stock opened at $23.58 on Friday. The business’s 50-day simple moving average is $23.54 and its 200 day simple moving average is $22.98. The stock has a market cap of $4.50 billion, a price-to-earnings ratio of 12.35, a P/E/G ratio of 3.06 and a beta of 1.31. Magnolia Oil & Gas Corp has a 12-month low of $19.09 and a 12-month high of $29.02. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.20.

Magnolia Oil & Gas (NYSE:MGY) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.03. The business had revenue of $318.98 million for the quarter, compared to analysts’ expectations of $311.58 million. Magnolia Oil & Gas had a return on equity of 19.34% and a net margin of 27.57%. The firm’s quarterly revenue was down 5.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.51 earnings per share. As a group, research analysts anticipate that Magnolia Oil & Gas Corp will post 2.1 earnings per share for the current year.

Magnolia Oil & Gas Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Monday, August 11th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Monday, August 11th. This represents a $0.60 annualized dividend and a yield of 2.5%. Magnolia Oil & Gas’s dividend payout ratio is presently 31.41%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on MGY shares. Wells Fargo & Company dropped their price objective on Magnolia Oil & Gas from $22.00 to $21.00 and set an “underweight” rating for the company in a research note on Monday, June 16th. Citigroup restated a “sell” rating on shares of Magnolia Oil & Gas in a report on Thursday, July 10th. Piper Sandler increased their target price on Magnolia Oil & Gas from $24.00 to $25.00 and gave the stock a “neutral” rating in a report on Thursday, July 17th. Bank of America increased their target price on Magnolia Oil & Gas from $23.00 to $25.00 and gave the stock a “neutral” rating in a report on Friday, May 23rd. Finally, Susquehanna decreased their target price on Magnolia Oil & Gas from $31.00 to $30.00 and set a “positive” rating on the stock in a report on Tuesday, April 22nd. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Magnolia Oil & Gas presently has a consensus rating of “Hold” and an average price target of $26.67.

Magnolia Oil & Gas Profile

Magnolia Oil & Gas Corp. engages in the acquisition, development, exploration, and production of oil and natural gas properties. It operates assets located in the Eagle Ford Shale and Austin Chalk formations in South Texas. The company was founded on February 14, 2017 and is headquartered in Houston, TX.