434,263 Shares in Magnolia Oil & Gas Corp $MGY Purchased by Kingstone Capital Partners Texas LLC

Key Points

• Kingstone Capital Partners Texas LLC acquired 434,263 shares of Magnolia Oil & Gas Corp, valued at approximately $10.36 million, representing about 0.23% of the company.
• Magnolia Oil & Gas reported an earnings per share (EPS) of $0.43, exceeding analysts' expectations and generating revenue of $318.98 million for the quarter.
• The company declared a quarterly dividend of $0.15 per share, with a dividend yield of 2.5% and a payout ratio of 31.41%.

Kingstone Capital Partners Texas LLC bought a new position in Magnolia Oil & Gas Corp (NYSE:MGY - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 434,263 shares of the company's stock, valued at approximately $10,357,000. Kingstone Capital Partners Texas LLC owned approximately 0.23% of Magnolia Oil & Gas at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in MGY. Opal Wealth Advisors LLC acquired a new stake in shares of Magnolia Oil & Gas during the first quarter valued at approximately $30,000. Parallel Advisors LLC raised its holdings in shares of Magnolia Oil & Gas by 122.8% during the first quarter. Parallel Advisors LLC now owns 2,308 shares of the company's stock valued at $58,000 after acquiring an additional 1,272 shares during the period. Farther Finance Advisors LLC raised its holdings in shares of Magnolia Oil & Gas by 16.8% during the first quarter. Farther Finance Advisors LLC now owns 4,366 shares of the company's stock valued at $111,000 after acquiring an additional 629 shares during the period. Smartleaf Asset Management LLC raised its holdings in shares of Magnolia Oil & Gas by 34.3% during the first quarter. Smartleaf Asset Management LLC now owns 5,072 shares of the company's stock valued at $128,000 after acquiring an additional 1,295 shares during the period. Finally, Pacer Advisors Inc. acquired a new position in Magnolia Oil & Gas in the 1st quarter valued at approximately $136,000. Institutional investors and hedge funds own 94.73% of the company's stock.

Magnolia Oil & Gas Stock Up 2.3%

Shares of NYSE MGY traded up $0.55 during midday trading on Tuesday, reaching $24.46. The company's stock had a trading volume of 1,006,766 shares, compared to its average volume of 2,617,481. The stock has a market capitalization of $4.67 billion, a price-to-earnings ratio of 12.81, a PEG ratio of 3.17 and a beta of 1.33. Magnolia Oil & Gas Corp has a fifty-two week low of $19.09 and a fifty-two week high of $29.02. The stock has a 50 day simple moving average of $23.87 and a 200-day simple moving average of $23.08. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.20.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported $0.43 earnings per share for the quarter, topping analysts' consensus estimates 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 business had revenue of $318.98 million for the quarter, compared to the consensus estimate of $311.58 million. During the same period in the previous year, the company earned $0.51 earnings per share. The firm's revenue for the quarter was down 5.3% on a year-over-year basis. Equities research analysts predict that Magnolia Oil & Gas Corp will post 2.1 earnings per share for the current year.

Magnolia Oil & Gas Dividend Announcement

The firm also recently announced 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 presently 31.41%.

Wall Street Analyst Weigh In

Several research firms have weighed in on MGY. Wells Fargo & Company dropped their price objective on shares of Magnolia Oil & Gas from $22.00 to $21.00 and set an "underweight" rating on the stock in a research note on Monday, June 16th. William Blair began coverage on shares of Magnolia Oil & Gas in a research note on Monday, August 25th. They issued an "outperform" rating on the stock. Piper Sandler upped their price objective on shares of Magnolia Oil & Gas from $24.00 to $25.00 and gave the company a "neutral" rating in a research note on Thursday, July 17th. Citigroup reiterated a "sell" rating on shares of Magnolia Oil & Gas in a research note on Thursday, July 10th. Finally, Mizuho dropped their price objective on shares of Magnolia Oil & Gas from $26.00 to $25.00 and set a "neutral" rating on the stock in a research note on Monday, September 15th. Four investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, Magnolia Oil & Gas has a consensus rating of "Hold" and a consensus price target 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.