Magnolia Oil & Gas Co. (NYSE:MGY) Shares Purchased by TimesSquare Capital Management LLC

TimesSquare Capital Management LLC increased its position in shares of Magnolia Oil & Gas Co. (NYSE:MGY - Free Report) by 25.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 793,965 shares of the company's stock after purchasing an additional 159,730 shares during the quarter. TimesSquare Capital Management LLC owned 0.40% of Magnolia Oil & Gas worth $18,563,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Harbor Capital Advisors Inc. acquired a new position in Magnolia Oil & Gas in the third quarter valued at approximately $25,000. First Horizon Advisors Inc. lifted its holdings 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 valued at $25,000 after acquiring an additional 396 shares during the period. Mather Group LLC. lifted its holdings in Magnolia Oil & Gas by 100.0% in the fourth quarter. Mather Group LLC. now owns 1,090 shares of the company's stock valued at $25,000 after acquiring an additional 545 shares during the period. R Squared Ltd acquired a new position in Magnolia Oil & Gas in the fourth quarter valued at approximately $43,000. Finally, Avior Wealth Management LLC lifted its holdings 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 valued at $51,000 after acquiring an additional 506 shares during the period. Institutional investors and hedge funds own 94.73% of the company's stock.

Magnolia Oil & Gas Trading Down 2.3 %

Shares of Magnolia Oil & Gas stock traded down $0.57 during trading hours on Friday, hitting $24.04. The company's stock had a trading volume of 2,633,660 shares, compared to its average volume of 1,857,494. Magnolia Oil & Gas Co. has a twelve month low of $21.49 and a twelve month high of $29.02. The firm has a fifty day moving average of $24.22 and a 200-day moving average of $25.22. The stock has a market cap of $4.72 billion, a price-to-earnings ratio of 12.45, a P/E/G ratio of 3.01 and a beta of 1.98. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.47 and a current ratio of 1.42.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last posted its earnings results 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 20.74% and a net margin of 27.82%. The firm had revenue of $326.61 million for the quarter, compared to analyst estimates of $327.40 million. Research analysts forecast that Magnolia Oil & Gas Co. will post 2.1 EPS for the current year.

Magnolia Oil & Gas Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Friday, February 14th will be paid a dividend of $0.15 per share. This is a positive change from Magnolia Oil & Gas's previous quarterly dividend of $0.13. The ex-dividend date is Friday, February 14th. This represents a $0.60 annualized dividend and a yield of 2.50%. Magnolia Oil & Gas's dividend payout ratio is presently 31.09%.

Analyst Ratings Changes

A number of research analysts have issued reports on MGY shares. Mizuho boosted their price target on Magnolia Oil & Gas from $27.00 to $28.00 and gave the company a "neutral" rating in a report on Monday, December 16th. Piper Sandler boosted their price objective on Magnolia Oil & Gas from $24.00 to $26.00 and gave the company a "neutral" rating in a research report on Wednesday, January 29th. Truist Financial boosted their price objective on Magnolia Oil & Gas from $33.00 to $34.00 and gave the company a "buy" rating in a research report on Monday, January 13th. Bank of America restated a "neutral" rating and issued a $28.00 price objective (down from $29.00) on shares of Magnolia Oil & Gas in a research report on Monday, January 13th. Finally, The Goldman Sachs Group cut Magnolia Oil & Gas from a "buy" rating to a "neutral" rating and cut their price objective for the company from $27.00 to $26.00 in a research report on Friday, January 31st. Two analysts have rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $27.58.

About Magnolia Oil & Gas

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.