Nicholas Investment Partners LP Purchases 65,532 Shares of Magnolia Oil & Gas Co. (NYSE:MGY)

Nicholas Investment Partners LP lifted its position in Magnolia Oil & Gas Co. (NYSE:MGY - Free Report) by 89.7% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 138,614 shares of the company's stock after buying an additional 65,532 shares during the period. Nicholas Investment Partners LP owned about 0.07% of Magnolia Oil & Gas worth $3,512,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in MGY. Vanguard Group Inc. increased its holdings in shares of Magnolia Oil & Gas by 16.6% in the first quarter. Vanguard Group Inc. now owns 20,757,369 shares of the company's stock worth $538,654,000 after acquiring an additional 2,956,314 shares in the last quarter. First Trust Advisors LP raised its holdings in Magnolia Oil & Gas by 20.2% during the 4th quarter. First Trust Advisors LP now owns 10,126,891 shares of the company's stock worth $215,602,000 after buying an additional 1,704,982 shares during the period. American Century Companies Inc. lifted its stake in Magnolia Oil & Gas by 9.9% in the second quarter. American Century Companies Inc. now owns 9,389,368 shares of the company's stock valued at $237,927,000 after buying an additional 847,542 shares in the last quarter. Wasatch Advisors LP boosted its holdings in shares of Magnolia Oil & Gas by 2.2% in the fourth quarter. Wasatch Advisors LP now owns 3,679,262 shares of the company's stock valued at $78,331,000 after buying an additional 77,733 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in shares of Magnolia Oil & Gas by 7.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,506,042 shares of the company's stock worth $74,647,000 after acquiring an additional 257,806 shares in the last quarter. Institutional investors and hedge funds own 94.73% of the company's stock.

Wall Street Analyst Weigh In

MGY has been the topic of several research reports. Piper Sandler cut their price objective on shares of Magnolia Oil & Gas from $29.00 to $26.00 and set a "neutral" rating on the stock in a research report on Thursday, August 15th. Benchmark reiterated a "hold" rating on shares of Magnolia Oil & Gas in a report on Thursday, July 18th. Wolfe Research started coverage on Magnolia Oil & Gas in a research report on Thursday, July 18th. They set an "outperform" rating and a $32.00 price target for the company. Bank of America lifted their price objective on shares of Magnolia Oil & Gas from $28.00 to $29.00 and gave the company a "buy" rating in a report on Tuesday, July 23rd. Finally, Capital One Financial started coverage on shares of Magnolia Oil & Gas in a research report on Tuesday, June 11th. They issued an "overweight" rating and a $28.00 target price for the company. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $28.09.

Magnolia Oil & Gas Stock Performance

Shares of MGY stock traded up $0.20 on Thursday, reaching $23.55. The stock had a trading volume of 1,832,032 shares, compared to its average volume of 2,627,776. Magnolia Oil & Gas Co. has a 12 month low of $19.16 and a 12 month high of $27.63. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $4.77 billion, a price-to-earnings ratio of 11.68, a P/E/G ratio of 1.12 and a beta of 2.00. The firm's 50-day moving average is $25.30 and its two-hundred day moving average is $25.16.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last released its quarterly earnings data on Wednesday, July 31st. The company reported $0.56 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.51 by $0.05. The company had revenue of $336.73 million during the quarter, compared to analysts' expectations of $340.72 million. Magnolia Oil & Gas had a return on equity of 21.18% and a net margin of 29.44%. On average, research analysts expect that Magnolia Oil & Gas Co. will post 2.13 EPS for the current fiscal year.

Magnolia Oil & Gas Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were given a dividend of $0.13 per share. The ex-dividend date was Friday, August 9th. This represents a $0.52 dividend on an annualized basis and a yield of 2.21%. Magnolia Oil & Gas's dividend payout ratio (DPR) is 25.87%.

Magnolia Oil & Gas 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.