TD Asset Management Inc Has $106.90 Million Stock Holdings in Magnolia Oil & Gas Corp $MGY

TD Asset Management Inc lifted its stake in shares of Magnolia Oil & Gas Corp (NYSE:MGY) by 55.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,478,361 shares of the company’s stock after acquiring an additional 1,601,809 shares during the quarter. TD Asset Management Inc’s holdings in Magnolia Oil & Gas were worth $106,898,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Magnolia Oil & Gas by 236.2% in the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,190 shares of the company’s stock valued at $27,000 after acquiring an additional 836 shares during the last quarter. Mather Group LLC. acquired a new position in shares of Magnolia Oil & Gas in the 3rd quarter worth approximately $31,000. EverSource Wealth Advisors LLC lifted its position in shares of Magnolia Oil & Gas by 165.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,386 shares of the company’s stock worth $31,000 after purchasing an additional 864 shares during the period. Geneos Wealth Management Inc. boosted its stake in shares of Magnolia Oil & Gas by 90.5% in the 2nd quarter. Geneos Wealth Management Inc. now owns 2,212 shares of the company’s stock valued at $50,000 after purchasing an additional 1,051 shares during the last quarter. Finally, Nisa Investment Advisors LLC increased its position in shares of Magnolia Oil & Gas by 31.5% during the third quarter. Nisa Investment Advisors LLC now owns 3,003 shares of the company’s stock worth $72,000 after buying an additional 720 shares during the period. 94.73% of the stock is owned by institutional investors and hedge funds.

Magnolia Oil & Gas Stock Performance

NYSE MGY opened at $27.03 on Thursday. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 0.20. The company has a fifty day simple moving average of $24.10 and a 200 day simple moving average of $23.63. The company has a market cap of $5.04 billion, a P/E ratio of 15.71 and a beta of 0.96. Magnolia Oil & Gas Corp has a 12-month low of $19.09 and a 12-month high of $27.52.

Magnolia Oil & Gas (NYSE:MGY) last announced its quarterly earnings results on Thursday, February 5th. The company reported $0.37 earnings per share (EPS) for the quarter, topping 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 business had revenue of $317.63 million during the quarter, compared to the consensus estimate of $322.18 million. During the same quarter in the prior year, the company posted $0.44 earnings per share. Magnolia Oil & Gas’s revenue was down 2.8% compared to the same quarter last year. Sell-side analysts predict that Magnolia Oil & Gas Corp will post 2.1 earnings per share for the current fiscal year.

Magnolia Oil & Gas Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 2nd. Investors of record on Tuesday, February 10th will be issued a $0.165 dividend. This is an increase from Magnolia Oil & Gas’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Tuesday, February 10th. This represents a $0.66 annualized dividend and a yield of 2.4%. Magnolia Oil & Gas’s payout ratio is 38.37%.

Wall Street Analysts Forecast Growth

MGY has been the topic of several recent analyst reports. The Goldman Sachs Group boosted their target price on shares of Magnolia Oil & Gas from $23.00 to $26.00 and gave the company a “neutral” rating in a report on Wednesday, February 11th. Mizuho set a $30.00 price objective on Magnolia Oil & Gas in a research report on Friday, February 6th. Wells Fargo & Company set a $25.00 price objective on Magnolia Oil & Gas in a research note on Monday, February 16th. UBS Group reaffirmed a “buy” rating and set a $29.00 target price on shares of Magnolia Oil & Gas in a research note on Friday, January 9th. Finally, BMO Capital Markets initiated coverage on Magnolia Oil & Gas in a research note on Friday, January 9th. They issued an “outperform” rating and a $27.00 price target on the stock. Eight investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $27.58.

About Magnolia Oil & Gas

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).