Ashton Thomas Private Wealth LLC Boosts Holdings in Magnolia Oil & Gas Corp $MGY

Key Points

• Ashton Thomas Private Wealth LLC significantly increased its stake in Magnolia Oil & Gas Corp by 80.6%, acquiring 20,358 additional shares in the first quarter, raising their total to 45,612 shares valued at approximately $1.15 million.
• Magnolia Oil & Gas reported a quarterly earnings per share (EPS) of $0.43, exceeding the consensus estimate of $0.40, with revenue of $318.98 million for the quarter.
• Analysts have mixed opinions on Magnolia Oil & Gas, with four analysts rating it a Buy while the consensus rating remains a "Hold" with a price target of $26.67.

Ashton Thomas Private Wealth LLC boosted its holdings in shares of Magnolia Oil & Gas Corp (NYSE:MGY - Free Report) by 80.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 45,612 shares of the company's stock after acquiring an additional 20,358 shares during the quarter. Ashton Thomas Private Wealth LLC's holdings in Magnolia Oil & Gas were worth $1,152,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in MGY. Encompass Capital Advisors LLC bought a new stake in Magnolia Oil & Gas during the 1st quarter worth approximately $53,819,000. Jane Street Group LLC lifted its position in shares of Magnolia Oil & Gas by 1,382.9% in the 1st quarter. Jane Street Group LLC now owns 1,059,335 shares of the company's stock worth $26,759,000 after purchasing an additional 987,896 shares during the period. Millennium Management LLC lifted its position in shares of Magnolia Oil & Gas by 506.2% in the 1st quarter. Millennium Management LLC now owns 1,022,836 shares of the company's stock worth $25,837,000 after purchasing an additional 854,113 shares during the period. Nuveen LLC acquired a new position in shares of Magnolia Oil & Gas during the 1st quarter valued at $21,066,000. Finally, Dimensional Fund Advisors LP lifted its position in shares of Magnolia Oil & Gas by 12.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 5,365,892 shares of the company's stock valued at $135,541,000 after acquiring an additional 597,845 shares during the period. 94.73% of the stock is owned by institutional investors.

Magnolia Oil & Gas Stock Up 4.1%

Shares of NYSE MGY traded up $0.96 during trading on Tuesday, hitting $24.63. The stock had a trading volume of 2,453,916 shares, compared to its average volume of 2,018,004. Magnolia Oil & Gas Corp has a 12 month low of $19.09 and a 12 month high of $29.02. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.44 and a quick ratio of 1.44. The company has a market capitalization of $4.70 billion, a PE ratio of 12.90, a PEG ratio of 3.12 and a beta of 1.33. The firm has a fifty day moving average of $23.82 and a two-hundred day moving average of $23.03.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last posted its 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 in the prior year, the business posted $0.51 EPS. The business's revenue was down 5.3% compared to the same quarter last year. As a group, equities research 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 Tuesday, September 2nd. Stockholders of record on Monday, August 11th were paid a $0.15 dividend. The ex-dividend date was Monday, August 11th. This represents a $0.60 annualized dividend and a dividend yield of 2.4%. Magnolia Oil & Gas's dividend payout ratio is presently 31.41%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. William Blair assumed coverage on shares of Magnolia Oil & Gas in a research report on Monday, August 25th. They set an "outperform" rating on the stock. Bank of America boosted their target price on shares of Magnolia Oil & Gas from $23.00 to $25.00 and gave the company a "neutral" rating in a research report on Friday, May 23rd. Wells Fargo & Company dropped 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. Citigroup reiterated a "sell" rating on shares of Magnolia Oil & Gas in a research report on Thursday, July 10th. Finally, Mizuho dropped their target price on shares of Magnolia Oil & Gas from $26.00 to $25.00 and set a "neutral" rating on the stock in a research report on Monday. Four equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, Magnolia Oil & Gas has a consensus rating of "Hold" and an average price target of $26.42.

Magnolia Oil & Gas Company 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.