GSA Capital Partners LLP Has $1.23 Million Stake in Magnolia Oil & Gas Corp $MGY

GSA Capital Partners LLP raised its position in shares of Magnolia Oil & Gas Corp (NYSE:MGY) by 106.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 51,488 shares of the company’s stock after acquiring an additional 26,547 shares during the period. GSA Capital Partners LLP’s holdings in Magnolia Oil & Gas were worth $1,229,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. American Century Companies Inc. boosted its stake in Magnolia Oil & Gas by 12.9% during the 2nd quarter. American Century Companies Inc. now owns 11,861,231 shares of the company’s stock valued at $266,641,000 after purchasing an additional 1,358,878 shares during the period. Pacer Advisors Inc. boosted its position in shares of Magnolia Oil & Gas by 16,251.3% in the third quarter. Pacer Advisors Inc. now owns 626,745 shares of the company’s stock valued at $14,960,000 after acquiring an additional 622,912 shares during the period. The Manufacturers Life Insurance Company grew its stake in shares of Magnolia Oil & Gas by 16.5% in the second quarter. The Manufacturers Life Insurance Company now owns 2,360,238 shares of the company’s stock worth $53,058,000 after acquiring an additional 333,566 shares during the last quarter. Balyasny Asset Management L.P. increased its position in Magnolia Oil & Gas by 14.8% during the second quarter. Balyasny Asset Management L.P. now owns 2,229,450 shares of the company’s stock worth $50,118,000 after acquiring an additional 287,414 shares during the period. Finally, Brandywine Global Investment Management LLC raised its stake in Magnolia Oil & Gas by 43.0% during the 2nd quarter. Brandywine Global Investment Management LLC now owns 805,578 shares of the company’s stock valued at $18,109,000 after purchasing an additional 242,160 shares during the last quarter. 94.73% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. BMO Capital Markets assumed coverage on shares of Magnolia Oil & Gas in a research report on Friday, January 9th. They issued an “outperform” rating and a $27.00 price target on the stock. Susquehanna decreased their target price on Magnolia Oil & Gas from $30.00 to $28.00 and set a “positive” rating on the stock in a research report on Monday, January 26th. Roth Mkm restated a “buy” rating on shares of Magnolia Oil & Gas in a research note on Tuesday, February 10th. Benchmark reiterated a “hold” rating on shares of Magnolia Oil & Gas in a research report on Wednesday, January 21st. Finally, Piper Sandler lifted their price objective on Magnolia Oil & Gas from $23.00 to $26.00 and gave the stock a “neutral” rating in a report on Tuesday, February 10th. Eight analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $27.58.

Magnolia Oil & Gas Stock Performance

NYSE:MGY opened at $26.42 on Thursday. The firm has a market capitalization of $4.98 billion, a PE ratio of 15.36 and a beta of 0.96. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 0.20. Magnolia Oil & Gas Corp has a 12-month low of $19.09 and a 12-month high of $27.47. The firm has a 50-day moving average price of $23.61 and a 200 day moving average price of $23.51.

Magnolia Oil & Gas (NYSE:MGY) last released its quarterly earnings data on Thursday, February 5th. The company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.01. Magnolia Oil & Gas had a return on equity of 16.67% and a net margin of 24.79%.The company had revenue of $317.63 million for the quarter, compared to analyst estimates of $322.18 million. During the same period in the prior year, the company posted $0.44 EPS. The company’s revenue was down 2.8% compared to the same quarter last year. Research analysts anticipate that Magnolia Oil & Gas Corp will post 2.1 earnings per share for the current fiscal year.

Magnolia Oil & Gas Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Tuesday, February 10th will be issued a dividend of $0.165 per share. The ex-dividend date of this dividend is Tuesday, February 10th. This is a boost from Magnolia Oil & Gas’s previous quarterly dividend of $0.15. This represents a $0.66 dividend on an annualized basis and a dividend yield of 2.5%. Magnolia Oil & Gas’s dividend payout ratio (DPR) is 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).