21,740 Shares in Magnolia Oil & Gas Corp (NYSE:MGY) Acquired by Gallacher Capital Management LLC

Gallacher Capital Management LLC purchased a new position in shares of Magnolia Oil & Gas Corp (NYSE:MGY - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 21,740 shares of the company's stock, valued at approximately $549,000.

Several other institutional investors and hedge funds have also bought and sold shares of MGY. 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 boosted its holdings in Magnolia Oil & Gas by 1,047.8% during the 4th quarter. Quarry LP now owns 2,135 shares of the company's stock worth $50,000 after acquiring an additional 1,949 shares during the last quarter. Parallel Advisors LLC boosted 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 purchasing an additional 1,272 shares during the last quarter. Farther Finance Advisors LLC boosted 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 purchasing an additional 629 shares during the last quarter. Finally, Headlands Technologies LLC purchased a new position in Magnolia Oil & Gas during the fourth quarter worth about $161,000. 94.73% of the stock is owned by institutional investors.

Magnolia Oil & Gas Price Performance

Shares of NYSE:MGY traded up $0.08 on Thursday, hitting $23.61. The company's stock had a trading volume of 572,174 shares, compared to its average volume of 2,673,886. The company has a 50-day simple moving average of $22.95 and a 200 day simple moving average of $23.16. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.33 and a quick ratio of 1.33. The company has a market capitalization of $4.54 billion, a PE ratio of 11.75, a PEG ratio of 3.03 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.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.53 by $0.02. Magnolia Oil & Gas had a return on equity of 20.73% and a net margin of 28.50%. The firm had revenue of $350.30 million for the quarter, compared to the consensus estimate of $337.83 million. During the same quarter in the previous year, the business earned $0.46 earnings per share. The company's quarterly revenue was up 9.7% on a year-over-year basis. Sell-side analysts forecast that Magnolia Oil & Gas Corp will post 2.1 EPS for the current fiscal year.

Magnolia Oil & Gas Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 12th were issued a dividend of $0.15 per share. The ex-dividend date was Monday, May 12th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.54%. Magnolia Oil & Gas's dividend payout ratio (DPR) is 29.85%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on MGY shares. Susquehanna cut their target price on Magnolia Oil & Gas from $31.00 to $30.00 and set a "positive" rating on the stock in a research note on Tuesday, April 22nd. Piper Sandler boosted their price objective on Magnolia Oil & Gas from $24.00 to $25.00 and gave the stock a "neutral" rating in a research report on Thursday, July 17th. Wells Fargo & Company cut their price objective on 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. Bank of America boosted their price target on shares of Magnolia Oil & Gas from $23.00 to $25.00 and gave the stock a "neutral" rating in a report on Friday, May 23rd. Finally, UBS Group reiterated a "buy" rating and issued a $29.00 target price (up from $26.00) on shares of Magnolia Oil & Gas in a research note on Friday, June 13th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Magnolia Oil & Gas presently has a consensus rating of "Hold" and an average price target of $26.67.

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.