Oppenheimer Asset Management Inc. Increases Position in Magnolia Oil & Gas Co. (NYSE:MGY)

Oppenheimer Asset Management Inc. lifted its position in shares of Magnolia Oil & Gas Co. (NYSE:MGY) by 15.5% in the 2nd quarter, Holdings Channel.com reports. The firm owned 37,927 shares of the company’s stock after purchasing an additional 5,100 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Magnolia Oil & Gas were worth $961,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its position in shares of Magnolia Oil & Gas by 7.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,506,042 shares of the company’s stock worth $74,647,000 after acquiring an additional 257,806 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its holdings in Magnolia Oil & Gas by 5.9% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 13,156 shares of the company’s stock valued at $280,000 after purchasing an additional 730 shares in the last quarter. Principal Financial Group Inc. increased its stake in Magnolia Oil & Gas by 25.1% in the fourth quarter. Principal Financial Group Inc. now owns 64,881 shares of the company’s stock valued at $1,381,000 after purchasing an additional 13,025 shares during the last quarter. Quadrant Capital Group LLC raised its holdings in Magnolia Oil & Gas by 40.4% during the fourth quarter. Quadrant Capital Group LLC now owns 4,623 shares of the company’s stock worth $98,000 after purchasing an additional 1,331 shares in the last quarter. Finally, Brown Advisory Inc. acquired a new stake in Magnolia Oil & Gas during the fourth quarter worth approximately $694,000. Institutional investors and hedge funds own 94.73% of the company’s stock.

Magnolia Oil & Gas Stock Performance

Shares of MGY opened at $25.91 on Friday. Magnolia Oil & Gas Co. has a 1 year low of $19.16 and a 1 year high of $27.63. The stock has a market capitalization of $5.16 billion, a P/E ratio of 12.89, a P/E/G ratio of 1.18 and a beta of 2.00. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.28 and a current ratio of 1.28. The company’s fifty day moving average is $25.17 and its two-hundred day moving average is $25.24.

Magnolia Oil & Gas (NYSE:MGY) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.05. Magnolia Oil & Gas had a net margin of 29.44% and a return on equity of 21.18%. The firm had revenue of $336.73 million during the quarter, compared to analysts’ expectations of $340.72 million. On average, sell-side analysts predict that Magnolia Oil & Gas Co. will post 2.08 earnings per share for the current year.

Magnolia Oil & Gas Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date was Friday, August 9th. Magnolia Oil & Gas’s dividend payout ratio is presently 25.87%.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Capital One Financial started coverage on shares of Magnolia Oil & Gas in a research report on Tuesday, June 11th. They issued an “overweight” rating and a $28.00 target price on the stock. Wolfe Research began coverage on Magnolia Oil & Gas in a research report on Thursday, July 18th. They set an “outperform” rating and a $32.00 target price on the stock. Benchmark reissued a “hold” rating on shares of Magnolia Oil & Gas in a report on Thursday, July 18th. Bank of America raised their price target on Magnolia Oil & Gas from $28.00 to $29.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Finally, Wells Fargo & Company reduced their price objective on Magnolia Oil & Gas from $27.00 to $26.00 and set an “equal weight” rating for the company in a research note on Monday, August 5th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Magnolia Oil & Gas currently has an average rating of “Hold” and a consensus target price of $28.00.

Magnolia Oil & Gas Profile

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.