TimesSquare Capital Management LLC Raises Stock Holdings in Magnolia Oil & Gas Co. (NYSE:MGY)

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

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Harbor Capital Advisors Inc. bought a new position in Magnolia Oil & Gas in the third quarter worth approximately $25,000. First Horizon Advisors Inc. grew its stake in Magnolia Oil & Gas by 64.7% in the third quarter. First Horizon Advisors Inc. now owns 1,008 shares of the company’s stock worth $25,000 after purchasing an additional 396 shares in the last quarter. Mather Group LLC. grew its stake in Magnolia Oil & Gas by 100.0% in the fourth quarter. Mather Group LLC. now owns 1,090 shares of the company’s stock worth $25,000 after purchasing an additional 545 shares in the last quarter. R Squared Ltd bought a new position in Magnolia Oil & Gas in the fourth quarter worth approximately $43,000. Finally, Avior Wealth Management LLC grew its stake in Magnolia Oil & Gas by 30.0% in the fourth quarter. Avior Wealth Management LLC now owns 2,194 shares of the company’s stock worth $51,000 after purchasing an additional 506 shares in the last quarter. 94.73% of the stock is currently owned by hedge funds and other institutional investors.

Magnolia Oil & Gas Price Performance

NYSE:MGY opened at $24.27 on Thursday. Magnolia Oil & Gas Co. has a 52 week low of $21.07 and a 52 week high of $29.02. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.20. The stock has a market capitalization 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. The stock’s 50-day moving average price is $24.26 and its 200-day moving average price is $25.22.

Magnolia Oil & Gas (NYSE:MGY) last posted its quarterly earnings data on Tuesday, February 18th. The company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $326.61 million for the quarter, compared to analysts’ expectations of $327.40 million. As a group, equities analysts expect that Magnolia Oil & Gas Co. will post 1.97 EPS 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 3rd. Investors of record on Friday, February 14th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 2.47%. This is a boost from Magnolia Oil & Gas’s previous quarterly dividend of $0.13. The ex-dividend date is Friday, February 14th. Magnolia Oil & Gas’s payout ratio is presently 29.70%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on MGY. Truist Financial increased their price objective on Magnolia Oil & Gas from $33.00 to $34.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. The Goldman Sachs Group cut Magnolia Oil & Gas from a “buy” rating to a “neutral” rating and dropped their target price for the company from $27.00 to $26.00 in a research report on Friday, January 31st. Johnson Rice cut Magnolia Oil & Gas from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, January 28th. Mizuho increased their target price on Magnolia Oil & Gas from $27.00 to $28.00 and gave the company a “neutral” rating in a research report on Monday, December 16th. Finally, Bank of America reaffirmed a “neutral” rating and set a $28.00 target price (down previously from $29.00) on shares of Magnolia Oil & Gas in a research report on Monday, January 13th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Magnolia Oil & Gas has a consensus 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.