Choreo LLC acquired a new position in shares of Magnolia Oil & Gas Corp (NYSE:MGY - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 10,778 shares of the company's stock, valued at approximately $272,000.
A number of other hedge funds also recently made changes to their positions in the stock. Opal Wealth Advisors LLC bought a new stake in shares of Magnolia Oil & Gas during the first quarter valued at approximately $30,000. Quarry LP increased its holdings in shares of Magnolia Oil & Gas by 1,047.8% during the fourth quarter. Quarry LP now owns 2,135 shares of the company's stock valued at $50,000 after acquiring an additional 1,949 shares in the last quarter. Parallel Advisors LLC grew its holdings in Magnolia Oil & Gas by 122.8% during the first quarter. Parallel Advisors LLC now owns 2,308 shares of the company's stock worth $58,000 after buying an additional 1,272 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in Magnolia Oil & Gas by 16.8% during the first quarter. Farther Finance Advisors LLC now owns 4,366 shares of the company's stock worth $111,000 after buying an additional 629 shares in the last quarter. Finally, Headlands Technologies LLC bought a new stake in Magnolia Oil & Gas during the fourth quarter worth $161,000. 94.73% of the stock is currently owned by institutional investors.
Magnolia Oil & Gas Price Performance
Shares of NYSE:MGY traded down $0.40 during mid-day trading on Friday, reaching $23.42. The stock had a trading volume of 3,700,494 shares, compared to its average volume of 2,696,194. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.20. The company has a market cap of $4.51 billion, a P/E ratio of 12.26, a price-to-earnings-growth ratio of 3.18 and a beta of 1.28. Magnolia Oil & Gas Corp has a 1 year low of $19.09 and a 1 year high of $29.02. The business's 50 day moving average price is $23.14 and its 200 day moving average price is $23.16.
Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.03. Magnolia Oil & Gas had a return on equity of 19.40% and a net margin of 27.57%. The company had revenue of $318.98 million for the quarter, compared to analysts' expectations of $311.58 million. During the same period in the previous year, the firm posted $0.51 earnings per share. The firm's revenue for the quarter was down 5.3% on a year-over-year basis. Research analysts expect that Magnolia Oil & Gas Corp will post 2.1 EPS for the current fiscal year.
Magnolia Oil & Gas Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Monday, August 11th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Monday, August 11th. This represents a $0.60 annualized dividend and a yield of 2.6%. Magnolia Oil & Gas's dividend payout ratio is 31.41%.
Wall Street Analyst Weigh In
MGY has been the subject of several recent research reports. Wells Fargo & Company decreased their price target on Magnolia Oil & Gas from $22.00 to $21.00 and set an "underweight" rating for the company in a report on Monday, June 16th. Citigroup reiterated a "sell" rating on shares of Magnolia Oil & Gas in a report on Thursday, July 10th. Bank of America upped their price target on Magnolia Oil & Gas from $23.00 to $25.00 and gave the stock a "neutral" rating in a report on Friday, May 23rd. Piper Sandler upped their price target on Magnolia Oil & Gas from $24.00 to $25.00 and gave the stock a "neutral" rating in a report on Thursday, July 17th. Finally, Susquehanna cut their price objective on Magnolia Oil & Gas from $31.00 to $30.00 and set a "positive" rating on the stock in a research report on Tuesday, April 22nd. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $26.67.
View Our Latest Stock Analysis on MGY
Magnolia Oil & Gas Company Profile
(
Free Report)
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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