Diamond Hill Capital Management Inc. Purchases Shares of 560,403 Magnolia Oil & Gas Co. (NYSE:MGY)

Diamond Hill Capital Management Inc. purchased a new stake in shares of Magnolia Oil & Gas Co. (NYSE:MGY) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 560,403 shares of the company’s stock, valued at approximately $14,201,000. Diamond Hill Capital Management Inc. owned 0.28% of Magnolia Oil & Gas as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in MGY. Charles Schwab Investment Management Inc. increased its stake in Magnolia Oil & Gas by 2.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,782,465 shares of the company’s stock worth $37,949,000 after acquiring an additional 46,510 shares during the last quarter. Teacher Retirement System of Texas increased its stake in Magnolia Oil & Gas by 4.7% during the fourth quarter. Teacher Retirement System of Texas now owns 50,496 shares of the company’s stock worth $1,075,000 after acquiring an additional 2,263 shares during the last quarter. BNP Paribas Financial Markets increased its stake in Magnolia Oil & Gas by 10.6% during the fourth quarter. BNP Paribas Financial Markets now owns 341,493 shares of the company’s stock worth $7,270,000 after acquiring an additional 32,662 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in 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 during the last quarter. Finally, Envestnet Portfolio Solutions Inc. increased its stake in Magnolia Oil & Gas by 5.9% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 13,156 shares of the company’s stock worth $280,000 after acquiring an additional 730 shares during the last quarter. 94.73% of the stock is owned by institutional investors.

Magnolia Oil & Gas Stock Up 1.2 %

Shares of NYSE:MGY opened at $23.84 on Monday. Magnolia Oil & Gas Co. has a 52-week low of $19.16 and a 52-week high of $27.63. The stock has a market cap of $4.75 billion, a P/E ratio of 11.86, a price-to-earnings-growth ratio of 1.12 and a beta of 2.00. The business’s 50 day moving average is $25.22 and its 200 day moving average is $25.21. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.21.

Magnolia Oil & Gas (NYSE:MGY) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.05. Magnolia Oil & Gas had a return on equity of 21.18% and a net margin of 29.44%. The company had revenue of $336.73 million for the quarter, compared to analysts’ expectations of $340.72 million. Sell-side analysts predict that Magnolia Oil & Gas Co. will post 2.13 EPS for the current year.

Magnolia Oil & Gas Dividend Announcement

The business also recently announced 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 annualized dividend and a yield of 2.18%. Magnolia Oil & Gas’s dividend payout ratio (DPR) is presently 25.87%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Capital One Financial assumed coverage on Magnolia Oil & Gas in a research report on Tuesday, June 11th. They set an “overweight” rating and a $28.00 target price for the company. Susquehanna dropped their target price on Magnolia Oil & Gas from $33.00 to $32.00 and set a “positive” rating for the company in a research report on Wednesday, September 4th. Benchmark restated a “hold” rating on shares of Magnolia Oil & Gas in a research report on Thursday, July 18th. JPMorgan Chase & Co. dropped their target price on Magnolia Oil & Gas from $26.00 to $23.00 and set a “neutral” rating for the company in a research report on Thursday. Finally, Bank of America boosted their target price 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. One research analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $28.09.

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.