American Century Companies Inc. Has $16.75 Million Position in Magnolia Oil & Gas Co. (NYSE:MGY)

Posted by Defense World Staff on Jun 8th, 2023

American Century Companies Inc. lowered its holdings in shares of Magnolia Oil & Gas Co. (NYSE:MGY – Get Rating) by 3.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 714,188 shares of the company’s stock after selling 24,788 shares during the period. American Century Companies Inc. owned about 0.33% of Magnolia Oil & Gas worth $16,748,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. CI Investments Inc. acquired a new stake in Magnolia Oil & Gas during the fourth quarter worth $31,000. Trifecta Capital Advisors LLC acquired a new stake in Magnolia Oil & Gas during the fourth quarter worth $71,000. Quadrant Capital Group LLC boosted its stake in Magnolia Oil & Gas by 14.5% during the fourth quarter. Quadrant Capital Group LLC now owns 3,539 shares of the company’s stock worth $83,000 after buying an additional 448 shares in the last quarter. Captrust Financial Advisors boosted its stake in Magnolia Oil & Gas by 42.4% during the first quarter. Captrust Financial Advisors now owns 3,608 shares of the company’s stock worth $85,000 after buying an additional 1,075 shares in the last quarter. Finally, Signaturefd LLC boosted its stake in Magnolia Oil & Gas by 72.9% during the third quarter. Signaturefd LLC now owns 4,709 shares of the company’s stock worth $93,000 after buying an additional 1,986 shares in the last quarter. Institutional investors and hedge funds own 98.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Mizuho cut their price objective on Magnolia Oil & Gas from $29.00 to $28.00 in a report on Friday, May 19th. Truist Financial cut their price objective on Magnolia Oil & Gas from $36.00 to $33.00 in a report on Friday, May 5th. Citigroup cut their price objective on Magnolia Oil & Gas from $25.00 to $22.00 in a report on Sunday, May 21st. Credit Suisse Group lifted their price objective on Magnolia Oil & Gas from $28.00 to $29.00 and gave the company a “buy” rating in a report on Thursday, February 16th. Finally, Roth Capital reissued a “buy” rating on shares of Magnolia Oil & Gas in a report on Tuesday, February 14th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Magnolia Oil & Gas presently has a consensus rating of “Moderate Buy” and an average target price of $28.88.

Magnolia Oil & Gas Stock Performance

Magnolia Oil & Gas stock opened at $21.01 on Thursday. The stock has a 50-day simple moving average of $20.85 and a 200 day simple moving average of $22.14. The company has a quick ratio of 2.64, a current ratio of 2.64 and a debt-to-equity ratio of 0.22. Magnolia Oil & Gas Co. has a 12-month low of $18.01 and a 12-month high of $30.31. The stock has a market capitalization of $4.45 billion, a price-to-earnings ratio of 4.87 and a beta of 2.15.

Magnolia Oil & Gas (NYSE:MGY – Get Rating) last announced its quarterly earnings data on Wednesday, May 3rd. The company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.03. The firm had revenue of $308.38 million during the quarter, compared to analysts’ expectations of $322.86 million. Magnolia Oil & Gas had a return on equity of 48.98% and a net margin of 50.72%. On average, research analysts anticipate that Magnolia Oil & Gas Co. will post 2.48 earnings per share for the current fiscal year.

Magnolia Oil & Gas Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 1st. Shareholders of record on Thursday, May 11th were issued a dividend of $0.115 per share. The ex-dividend date of this dividend was Wednesday, May 10th. This represents a $0.46 annualized dividend and a yield of 2.19%. Magnolia Oil & Gas’s dividend payout ratio is currently 10.67%.

About Magnolia Oil & Gas

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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.