GSA Capital Partners LLP purchased a new position in shares of Magnolia Oil & Gas Corp (NYSE:MGY - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 27,646 shares of the company's stock, valued at approximately $698,000.
A number of other large investors also recently modified their holdings of the business. Mackenzie Financial Corp increased its position in shares of Magnolia Oil & Gas by 164.9% in the first quarter. Mackenzie Financial Corp now owns 29,322 shares of the company's stock valued at $741,000 after acquiring an additional 18,254 shares during the last quarter. Valley Wealth Managers Inc. grew its stake in Magnolia Oil & Gas by 5.1% in the first quarter. Valley Wealth Managers Inc. now owns 716,547 shares of the company's stock valued at $18,100,000 after purchasing an additional 34,523 shares in the last quarter. HB Wealth Management LLC acquired a new position in shares of Magnolia Oil & Gas during the 1st quarter worth approximately $232,000. Pacer Advisors Inc. acquired a new stake in Magnolia Oil & Gas in the 1st quarter valued at about $136,000. Finally, Cetera Investment Advisers grew its holdings in Magnolia Oil & Gas by 17.3% during the first quarter. Cetera Investment Advisers now owns 12,727 shares of the company's stock worth $321,000 after purchasing an additional 1,875 shares during the period. 94.73% of the stock is currently owned by institutional investors and hedge funds.
Magnolia Oil & Gas Stock Performance
NYSE MGY opened at $23.42 on Friday. The firm has a 50-day moving average price of $23.22 and a two-hundred day moving average price of $23.11. Magnolia Oil & Gas Corp has a 12-month low of $19.09 and a 12-month high of $29.02. The company has a market capitalization of $4.51 billion, a P/E ratio of 12.26, a P/E/G ratio of 3.06 and a beta of 1.31. The company has a quick ratio of 1.33, a current ratio of 1.44 and a debt-to-equity ratio of 0.20.
Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.03. The business had revenue of $318.98 million during the quarter, compared to analysts' expectations of $311.58 million. Magnolia Oil & Gas had a return on equity of 19.34% and a net margin of 27.57%. The firm's revenue for the quarter was down 5.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.51 earnings per share. Analysts anticipate that Magnolia Oil & Gas Corp will post 2.1 earnings per share for the current year.
Magnolia Oil & Gas Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Monday, August 11th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend is Monday, August 11th. Magnolia Oil & Gas's dividend payout ratio is 31.41%.
Analyst Upgrades and Downgrades
Several research firms have issued reports on MGY. Citigroup restated a "sell" rating on shares of Magnolia Oil & Gas in a research note on Thursday, July 10th. Piper Sandler increased their price target on Magnolia Oil & Gas from $24.00 to $25.00 and gave the company a "neutral" rating in a research note on Thursday, July 17th. 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 research report on Monday, June 16th. Bank of America upped their price objective on shares of Magnolia Oil & Gas from $23.00 to $25.00 and gave the company a "neutral" rating in a report on Friday, May 23rd. Finally, UBS Group restated a "buy" rating and set a $29.00 target price (up previously from $26.00) on shares of Magnolia Oil & Gas in a research note on Friday, June 13th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Magnolia Oil & Gas has a consensus rating of "Hold" and an average target price of $26.67.
Read Our Latest Stock Report on Magnolia Oil & Gas
Magnolia Oil & Gas 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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