Magnolia Oil & Gas Corp (NYSE:MGY) Shares Purchased by Foster Victor Wealth Advisors LLC

Foster Victor Wealth Advisors LLC increased its holdings in shares of Magnolia Oil & Gas Corp (NYSE:MGY - Free Report) by 7.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 336,917 shares of the company's stock after buying an additional 22,402 shares during the quarter. Foster Victor Wealth Advisors LLC owned 0.17% of Magnolia Oil & Gas worth $8,511,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MGY. Larson Financial Group LLC raised its stake in Magnolia Oil & Gas by 112.3% in the fourth quarter. Larson Financial Group LLC now owns 1,072 shares of the company's stock valued at $25,000 after buying an additional 567 shares during the last quarter. Opal Wealth Advisors LLC acquired a new position in shares of Magnolia Oil & Gas during the first quarter valued at about $30,000. Quarry LP raised its position in shares of Magnolia Oil & Gas by 1,047.8% in the 4th quarter. Quarry LP now owns 2,135 shares of the company's stock valued at $50,000 after purchasing an additional 1,949 shares during the last quarter. Parallel Advisors LLC boosted its stake in Magnolia Oil & Gas by 122.8% in 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 in the last quarter. Finally, Smartleaf Asset Management LLC grew its position in Magnolia Oil & Gas by 95.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 3,777 shares of the company's stock worth $88,000 after purchasing an additional 1,844 shares during the last quarter. 94.73% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Piper Sandler decreased their price target on shares of Magnolia Oil & Gas from $25.00 to $24.00 and set a "neutral" rating for the company in a report on Tuesday, May 13th. UBS Group reissued a "buy" rating and issued a $29.00 target price (up from $26.00) on shares of Magnolia Oil & Gas in a research report on Friday, June 13th. Susquehanna reduced their target price on Magnolia Oil & Gas from $31.00 to $30.00 and set a "positive" rating for the company in a research note on Tuesday, April 22nd. Williams Trading set a $29.00 price target on Magnolia Oil & Gas in a research note on Wednesday, March 5th. Finally, JPMorgan Chase & Co. cut their price objective on Magnolia Oil & Gas from $28.00 to $24.00 and set a "neutral" rating on the stock in a report on Thursday, March 13th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Magnolia Oil & Gas currently has a consensus rating of "Hold" and a consensus price target of $27.00.

Magnolia Oil & Gas Stock Performance

Shares of MGY traded down $0.14 during mid-day trading on Wednesday, reaching $24.08. The company had a trading volume of 2,832,945 shares, compared to its average volume of 2,299,666. The stock has a market capitalization of $4.63 billion, a P/E ratio of 11.98, a PEG ratio of 3.21 and a beta of 1.29. Magnolia Oil & Gas Corp has a 52-week low of $19.09 and a 52-week high of $29.02. The stock has a 50 day moving average of $21.88 and a two-hundred day moving average of $23.38. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.20.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.55 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 company had revenue of $350.30 million during the quarter, compared to the consensus estimate of $337.83 million. During the same period in the previous year, the company posted $0.46 earnings per share. Magnolia Oil & Gas's revenue for the quarter was up 9.7% on a year-over-year basis. On average, analysts expect that Magnolia Oil & Gas Corp will post 2.1 earnings per share for the current year.

Magnolia Oil & Gas Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 12th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 2.49%. The ex-dividend date of this dividend was Monday, May 12th. Magnolia Oil & Gas's dividend payout ratio is currently 29.85%.

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.