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

TimesSquare Capital Management LLC boosted its stake in shares of Magnolia Oil & Gas Co. (NYSE:MGY) by 25.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 793,965 shares of the company’s stock after purchasing an additional 159,730 shares during the period. TimesSquare Capital Management LLC owned about 0.40% of Magnolia Oil & Gas worth $18,563,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of MGY. Creative Planning lifted its position in shares of Magnolia Oil & Gas by 8.3% in the third quarter. Creative Planning now owns 68,878 shares of the company’s stock valued at $1,682,000 after acquiring an additional 5,289 shares in the last quarter. Moody Aldrich Partners LLC lifted its position in shares of Magnolia Oil & Gas by 15.2% in the third quarter. Moody Aldrich Partners LLC now owns 309,433 shares of the company’s stock valued at $7,556,000 after acquiring an additional 40,747 shares in the last quarter. Argent Capital Management LLC lifted its position in shares of Magnolia Oil & Gas by 35.0% in the third quarter. Argent Capital Management LLC now owns 39,290 shares of the company’s stock valued at $959,000 after acquiring an additional 10,179 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of Magnolia Oil & Gas by 6.6% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 14,364 shares of the company’s stock valued at $351,000 after acquiring an additional 889 shares in the last quarter. Finally, Boston Trust Walden Corp lifted its position in shares of Magnolia Oil & Gas by 4.4% in the third quarter. Boston Trust Walden Corp now owns 2,823,126 shares of the company’s stock valued at $68,941,000 after acquiring an additional 119,582 shares in the last quarter. 94.73% of the stock is currently owned by hedge funds and other institutional investors.

Magnolia Oil & Gas Trading Up 1.6 %

Shares of MGY stock opened at $24.27 on Thursday. Magnolia Oil & Gas Co. has a 1 year low of $21.07 and a 1 year high of $29.02. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.47 and a quick ratio of 1.47. The stock’s 50 day simple moving average is $24.26 and its two-hundred day simple moving average is $25.22. The company has a market cap of $4.77 billion, a PE ratio of 12.02, a price-to-earnings-growth ratio of 2.92 and a beta of 1.98.

Magnolia Oil & Gas (NYSE:MGY) last issued its quarterly earnings data on Tuesday, February 18th. The company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.03. Magnolia Oil & Gas had a return on equity of 20.78% and a net margin of 28.88%. The business had revenue of $326.61 million for the quarter, compared to the consensus estimate of $327.40 million. Research analysts predict that Magnolia Oil & Gas Co. will post 1.97 earnings per share for the current year.

Magnolia Oil & Gas Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Friday, February 14th will be given a dividend of $0.15 per share. The ex-dividend date is Friday, February 14th. This is an increase from Magnolia Oil & Gas’s previous quarterly dividend of $0.13. This represents a $0.60 dividend on an annualized basis and a yield of 2.47%. Magnolia Oil & Gas’s dividend payout ratio is 29.70%.

Analyst Ratings Changes

Several equities analysts have recently commented on MGY shares. Johnson Rice downgraded Magnolia Oil & Gas from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, January 28th. Truist Financial lifted their target price on Magnolia Oil & Gas from $33.00 to $34.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Piper Sandler lifted their target price on Magnolia Oil & Gas from $24.00 to $26.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Mizuho lifted their target price on Magnolia Oil & Gas from $27.00 to $28.00 and gave the stock a “neutral” rating in a report on Monday, December 16th. Finally, Bank of America reaffirmed a “neutral” rating and issued a $28.00 target price (down from $29.00) on shares of Magnolia Oil & Gas in a report on Monday, January 13th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Magnolia Oil & Gas currently has an average rating of “Hold” and a consensus price target of $27.58.

Magnolia Oil & Gas 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.