Foster Victor Wealth Advisors LLC Has $8.49 Million Stock Holdings in Magnolia Oil & Gas Corp $MGY

Key Points

• Foster Victor Wealth Advisors LLC has increased its stake in Magnolia Oil & Gas Corp by 7.8%, now holding 363,030 shares worth approximately $8.49 million.
• The stock currently has a consensus rating of "Hold" among analysts, with a consensus target price of $26.42.
• Magnolia Oil & Gas recently announced a quarterly dividend of $0.15 per share, translating to an annualized dividend yield of 2.5%.

Foster Victor Wealth Advisors LLC increased its stake in shares of Magnolia Oil & Gas Corp (NYSE:MGY - Free Report) by 7.8% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 363,030 shares of the company's stock after buying an additional 26,113 shares during the period. Foster Victor Wealth Advisors LLC owned 0.19% of Magnolia Oil & Gas worth $8,488,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Opal Wealth Advisors LLC acquired a new stake in Magnolia Oil & Gas during the first quarter worth approximately $30,000. Parallel Advisors LLC lifted its holdings in 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 purchasing an additional 1,272 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in 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 purchasing an additional 629 shares during the last quarter. GAMMA Investing LLC boosted its stake in Magnolia Oil & Gas by 98.6% in the 2nd quarter. GAMMA Investing LLC now owns 5,009 shares of the company's stock valued at $113,000 after purchasing an additional 2,487 shares during the period. Finally, Smartleaf Asset Management LLC grew its holdings in Magnolia Oil & Gas by 34.3% in the 1st quarter. Smartleaf Asset Management LLC now owns 5,072 shares of the company's stock valued at $128,000 after buying an additional 1,295 shares in the last quarter. 94.73% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

MGY has been the subject of a number of research reports. William Blair initiated coverage on Magnolia Oil & Gas in a report on Monday, August 25th. They set an "outperform" rating for the company. Piper Sandler raised their price target on shares of Magnolia Oil & Gas from $24.00 to $25.00 and gave the stock a "neutral" rating in a research report on Thursday, July 17th. Mizuho cut 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. Wells Fargo & Company decreased their target price on shares of Magnolia Oil & Gas from $22.00 to $21.00 and set an "underweight" rating on the stock in a research report on Monday, June 16th. Finally, UBS Group reiterated a "buy" rating and issued a $29.00 price target (up from $26.00) on shares of Magnolia Oil & Gas in a research report on Friday, June 13th. Four investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $26.42.

Magnolia Oil & Gas Stock Performance

Shares of MGY stock opened at $24.46 on Wednesday. The stock has a market capitalization of $4.67 billion, a PE ratio of 12.80, a PEG ratio of 3.15 and a beta of 1.33. The business's 50 day simple moving average is $23.90 and its 200 day simple moving average is $23.09. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.44 and a quick ratio of 1.44. Magnolia Oil & Gas Corp has a one year low of $19.09 and a one year high of $29.02.

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

Magnolia Oil & Gas Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 11th were paid 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%.

About Magnolia Oil & Gas

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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