Jacobs Levy Equity Management Inc. Has $1.15 Million Stock Position in Magnolia Oil & Gas Corp $MGY

Jacobs Levy Equity Management Inc. lessened its holdings in Magnolia Oil & Gas Corp (NYSE:MGY) by 84.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 45,364 shares of the company’s stock after selling 250,315 shares during the period. Jacobs Levy Equity Management Inc.’s holdings in Magnolia Oil & Gas were worth $1,146,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in MGY. BNP Paribas Financial Markets raised its holdings in shares of Magnolia Oil & Gas by 2.2% in the 4th quarter. BNP Paribas Financial Markets now owns 131,291 shares of the company’s stock worth $3,070,000 after acquiring an additional 2,799 shares during the last quarter. Cetera Investment Advisers raised its holdings in shares of Magnolia Oil & Gas by 26.4% in the 4th quarter. Cetera Investment Advisers now owns 10,852 shares of the company’s stock worth $254,000 after acquiring an additional 2,265 shares during the last quarter. Deutsche Bank AG raised its holdings in shares of Magnolia Oil & Gas by 42.7% in the 4th quarter. Deutsche Bank AG now owns 187,715 shares of the company’s stock worth $4,389,000 after acquiring an additional 56,161 shares during the last quarter. Ensign Peak Advisors Inc raised its holdings in shares of Magnolia Oil & Gas by 197.2% in the 4th quarter. Ensign Peak Advisors Inc now owns 214,106 shares of the company’s stock worth $5,006,000 after acquiring an additional 142,067 shares during the last quarter. Finally, Ethic Inc. raised its holdings in shares of Magnolia Oil & Gas by 18.4% in the 4th quarter. Ethic Inc. now owns 11,006 shares of the company’s stock worth $257,000 after acquiring an additional 1,713 shares during the last quarter. Institutional investors and hedge funds own 94.73% of the company’s stock.

Wall Street Analysts Forecast Growth

MGY has been the topic of a number of analyst reports. William Blair initiated coverage on shares of Magnolia Oil & Gas in a report on Monday, August 25th. They issued an “outperform” rating on the stock. UBS Group restated a “buy” rating and issued a $29.00 target price (up previously from $26.00) on shares of Magnolia Oil & Gas in a report on Friday, June 13th. Piper Sandler upped their price objective on shares of Magnolia Oil & Gas from $24.00 to $25.00 and gave the stock a “neutral” rating in a research report on Thursday, July 17th. Wells Fargo & Company reduced their price objective on shares of Magnolia Oil & Gas from $22.00 to $21.00 and set an “underweight” rating for the company in a research report on Monday, June 16th. Finally, Citigroup reaffirmed a “sell” rating on shares of Magnolia Oil & Gas in a research report on Thursday, July 10th. Four analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Magnolia Oil & Gas has a consensus rating of “Hold” and a consensus target price of $26.67.

Magnolia Oil & Gas Stock Down 0.7%

Magnolia Oil & Gas stock opened at $24.13 on Friday. Magnolia Oil & Gas Corp has a twelve month low of $19.09 and a twelve month high of $29.02. The firm has a 50 day moving average price of $23.77 and a 200-day moving average price of $23.02. The company has a market capitalization of $4.60 billion, a P/E ratio of 12.63, a P/E/G ratio of 3.20 and a beta of 1.33. 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 released its earnings results on Wednesday, July 30th. The company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.03. Magnolia Oil & Gas had a net margin of 27.57% and a return on equity of 19.34%. The firm had revenue of $318.98 million during the quarter, compared to the consensus estimate of $311.58 million. During the same period in the prior year, the firm earned $0.51 EPS. The company’s revenue was down 5.3% compared to the same quarter last year. As a group, equities analysts predict that Magnolia Oil & Gas Corp will post 2.1 EPS for the current year.

Magnolia Oil & Gas Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 11th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend was Monday, August 11th. Magnolia Oil & Gas’s dividend payout ratio is currently 31.41%.

Magnolia Oil & Gas Company 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.