Legato Capital Management LLC Takes $244,000 Position in Magnolia Oil & Gas Co. (NYSE:MGY)

Legato Capital Management LLC acquired a new stake in Magnolia Oil & Gas Co. (NYSE:MGY) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 9,627 shares of the company’s stock, valued at approximately $244,000.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of Magnolia Oil & Gas by 16.6% during the 1st quarter. Vanguard Group Inc. now owns 20,757,369 shares of the company’s stock valued at $538,654,000 after purchasing an additional 2,956,314 shares during 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 valued at $215,602,000 after buying an additional 1,704,982 shares during the period. Victory Capital Management Inc. boosted its stake in Magnolia Oil & Gas by 2.1% during the fourth quarter. Victory Capital Management Inc. now owns 6,162,526 shares of the company’s stock worth $131,200,000 after buying an additional 128,097 shares during the period. Wasatch Advisors LP increased its position in Magnolia Oil & Gas by 2.2% during the fourth quarter. Wasatch Advisors LP now owns 3,679,262 shares of the company’s stock valued at $78,331,000 after acquiring an additional 77,733 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Magnolia Oil & Gas by 7.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,506,042 shares of the company’s stock valued at $74,647,000 after acquiring an additional 257,806 shares during the period. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Magnolia Oil & Gas Stock Down 1.7 %

NYSE:MGY traded down $0.45 during trading hours on Tuesday, reaching $25.28. The company’s stock had a trading volume of 663,815 shares, compared to its average volume of 2,679,921. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.28 and a current ratio of 1.28. The company has a market capitalization of $5.03 billion, a P/E ratio of 12.76, a price-to-earnings-growth ratio of 1.17 and a beta of 2.02. The stock has a 50 day moving average price of $25.47 and a two-hundred day moving average price of $24.91. Magnolia Oil & Gas Co. has a 12 month low of $19.16 and a 12 month high of $27.63.

Magnolia Oil & Gas (NYSE:MGY) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.05. The firm 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%. Equities analysts predict that Magnolia Oil & Gas Co. will post 2.14 EPS for the current fiscal year.

Magnolia Oil & Gas Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th will be issued a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 2.06%. The ex-dividend date is Friday, August 9th. Magnolia Oil & Gas’s dividend payout ratio is currently 25.87%.

Analyst Ratings Changes

MGY has been the topic of several analyst reports. Mizuho upped their price target on shares of Magnolia Oil & Gas from $26.00 to $28.00 and gave the company a “neutral” rating in a report on Monday, May 13th. Wolfe Research began coverage on Magnolia Oil & Gas in a research note on Thursday, July 18th. They set an “outperform” rating and a $32.00 price target for the company. Bank of America upped their price objective on Magnolia Oil & Gas from $28.00 to $29.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Truist Financial lifted their target price on Magnolia Oil & Gas from $34.00 to $35.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Finally, Capital One Financial initiated coverage on shares of Magnolia Oil & Gas in a research note on Tuesday, June 11th. They set an “overweight” rating and a $28.00 target price for the company. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $28.70.

About Magnolia Oil & Gas

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.