TimesSquare Capital Management LLC Grows Stake in Magnolia Oil & Gas Co. (NYSE:MGY)

TimesSquare Capital Management LLC increased its holdings in shares of Magnolia Oil & Gas Co. (NYSE:MGY) by 10.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 884,709 shares of the company’s stock after purchasing an additional 81,130 shares during the quarter. TimesSquare Capital Management LLC owned approximately 0.43% of Magnolia Oil & Gas worth $18,835,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. VisionPoint Advisory Group LLC increased its position in shares of Magnolia Oil & Gas by 112.3% during the third quarter. VisionPoint Advisory Group LLC now owns 1,537 shares of the company’s stock worth $35,000 after purchasing an additional 813 shares in the last quarter. Arlington Trust Co LLC acquired a new stake in shares of Magnolia Oil & Gas in the fourth quarter valued at approximately $113,000. Signaturefd LLC grew its position in shares of Magnolia Oil & Gas by 6.7% during the third quarter. Signaturefd LLC now owns 8,325 shares of the company’s stock worth $191,000 after acquiring an additional 523 shares during the last quarter. Fulton Bank N.A. acquired a new position in shares of Magnolia Oil & Gas in the 4th quarter valued at $213,000. Finally, Andina Capital Management LLC purchased a new stake in Magnolia Oil & Gas in the 4th quarter valued at $221,000. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Magnolia Oil & Gas Price Performance

NYSE:MGY traded down $0.04 during trading hours on Friday, hitting $26.33. The company’s stock had a trading volume of 60,806 shares, compared to its average volume of 3,093,710. Magnolia Oil & Gas Co. has a 52-week low of $18.92 and a 52-week high of $27.33. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.88 and a current ratio of 1.88. The business’s 50-day moving average is $25.34 and its two-hundred day moving average is $22.67. The company has a market capitalization of $5.38 billion, a PE ratio of 13.18, a PEG ratio of 1.52 and a beta of 2.03.

Magnolia Oil & Gas (NYSE:MGY) last posted its quarterly earnings results on Wednesday, February 14th. The company reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.04). Magnolia Oil & Gas had a net margin of 31.65% and a return on equity of 21.21%. The company had revenue of $322.63 million for the quarter, compared to analyst estimates of $324.95 million. As a group, research analysts anticipate that Magnolia Oil & Gas Co. will post 2.11 EPS for the current fiscal year.

Magnolia Oil & Gas Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, May 13th will be given a $0.13 dividend. The ex-dividend date is Friday, May 10th. This represents a $0.52 annualized dividend and a dividend yield of 1.97%. Magnolia Oil & Gas’s dividend payout ratio is presently 25.87%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on MGY shares. Wells Fargo & Company raised their price objective on shares of Magnolia Oil & Gas from $23.00 to $27.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 18th. Benchmark reissued a “hold” rating on shares of Magnolia Oil & Gas in a report on Tuesday, April 23rd. Susquehanna upped their price objective on Magnolia Oil & Gas from $28.00 to $31.00 and gave the company a “positive” rating in a research note on Monday, April 22nd. Citigroup lifted their target price on Magnolia Oil & Gas from $18.00 to $22.00 and gave the company a “sell” rating in a research note on Monday, April 15th. Finally, The Goldman Sachs Group upped their price target on Magnolia Oil & Gas from $24.50 to $28.00 and gave the stock a “buy” rating in a research note on Tuesday, March 26th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Magnolia Oil & Gas has a consensus rating of “Hold” and a consensus target price of $27.63.

Magnolia Oil & Gas Company 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.