Bosman Wealth Management LLC Has $1.20 Million Holdings in Magnolia Oil & Gas Corp $MGY

Key Points

• Bosman Wealth Management LLC reduced its holdings in Magnolia Oil & Gas Corp by 53.2%, owning 53,214 shares valued at approximately $1.20 million as of the latest reporting period.
• Magnolia Oil & Gas recently announced a quarterly dividend of $0.15 per share, giving it an annualized dividend yield of 2.5%.
• The company reported an earnings per share (EPS) of $0.43 for the last quarter, exceeding analyst expectations, but its revenue decreased 5.3% year-over-year.

Bosman Wealth Management LLC cut its position in Magnolia Oil & Gas Corp (NYSE:MGY - Free Report) by 53.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 53,214 shares of the company's stock after selling 60,453 shares during the quarter. Bosman Wealth Management LLC's holdings in Magnolia Oil & Gas were worth $1,196,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of MGY. Opal Wealth Advisors LLC bought a new position in shares of Magnolia Oil & Gas during the 1st quarter worth about $30,000. Parallel Advisors LLC lifted its holdings in shares of Magnolia Oil & Gas by 122.8% during the 1st quarter. Parallel Advisors LLC now owns 2,308 shares of the company's stock worth $58,000 after acquiring an additional 1,272 shares during the period. Farther Finance Advisors LLC lifted its holdings in shares of Magnolia Oil & Gas by 16.8% during the 1st quarter. Farther Finance Advisors LLC now owns 4,366 shares of the company's stock worth $111,000 after acquiring an additional 629 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Magnolia Oil & Gas by 98.6% during the 2nd quarter. GAMMA Investing LLC now owns 5,009 shares of the company's stock worth $113,000 after acquiring an additional 2,487 shares during the period. Finally, Smartleaf Asset Management LLC lifted its holdings in shares of Magnolia Oil & Gas by 34.3% during the 1st quarter. Smartleaf Asset Management LLC now owns 5,072 shares of the company's stock worth $128,000 after acquiring an additional 1,295 shares during the period. 94.73% of the stock is currently owned by institutional investors and hedge funds.

Magnolia Oil & Gas Stock Performance

Shares of MGY opened at $24.17 on Tuesday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.44 and a current ratio of 1.44. Magnolia Oil & Gas Corp has a twelve month low of $19.09 and a twelve month high of $29.02. The firm's 50 day moving average price is $24.05 and its two-hundred day moving average price is $23.13. The firm has a market cap of $4.61 billion, a P/E ratio of 12.65, a PEG ratio of 3.31 and a beta of 1.33.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $0.43 EPS for the quarter, topping analysts' consensus estimates of $0.40 by $0.03. The business had revenue of $318.98 million for the quarter, compared to analyst estimates of $311.58 million. Magnolia Oil & Gas had a net margin of 27.57% and a return on equity of 19.34%. The firm's revenue for the quarter was down 5.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.51 earnings per share. On average, analysts forecast that Magnolia Oil & Gas Corp will post 2.1 EPS for the current fiscal year.

Magnolia Oil & Gas Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 11th were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend was Monday, August 11th. Magnolia Oil & Gas's payout ratio is currently 31.41%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Mizuho reduced their price objective on shares of Magnolia Oil & Gas from $26.00 to $25.00 and set a "neutral" rating for the company in a report on Monday, September 15th. Citigroup reaffirmed a "sell" rating on shares of Magnolia Oil & Gas in a report on Thursday, July 10th. Wells Fargo & Company reduced their price objective on shares of Magnolia Oil & Gas from $22.00 to $21.00 and set an "underweight" rating for the company in a report on Monday, June 16th. Piper Sandler raised their price objective on shares of Magnolia Oil & Gas from $24.00 to $25.00 and gave the stock a "neutral" rating in a report on Thursday, July 17th. Finally, William Blair assumed coverage on shares of Magnolia Oil & Gas in a research report on Monday, August 25th. They set an "outperform" rating for the company. Four analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $26.42.

Magnolia Oil & Gas Profile

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.

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