Magnolia Oil & Gas Corp $MGY Shares Acquired by Ashton Thomas Private Wealth LLC

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 increased its position in shares of Magnolia Oil & Gas Corp (NYSE:MGY - Free Report) by 80.6% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 45,612 shares of the company's stock after purchasing an additional 20,358 shares during the period. Ashton Thomas Private Wealth LLC's holdings in Magnolia Oil & Gas were worth $1,152,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in MGY. Opal Wealth Advisors LLC purchased a new position in shares of Magnolia Oil & Gas during the 1st quarter worth approximately $30,000. Parallel Advisors LLC grew 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 acquiring an additional 1,272 shares during the period. Farther Finance Advisors LLC raised its position in Magnolia Oil & Gas by 16.8% in the first quarter. Farther Finance Advisors LLC now owns 4,366 shares of the company's stock worth $111,000 after acquiring an additional 629 shares in the last quarter. Smartleaf Asset Management LLC raised its position in Magnolia Oil & Gas by 34.3% in the first quarter. Smartleaf Asset Management LLC now owns 5,072 shares of the company's stock worth $128,000 after acquiring an additional 1,295 shares in the last quarter. Finally, Pacer Advisors Inc. acquired a new stake in Magnolia Oil & Gas in the first quarter valued at $136,000. Hedge funds and other institutional investors own 94.73% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. Wells Fargo & Company lowered their price target 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. Piper Sandler boosted their price objective on shares of Magnolia Oil & Gas from $24.00 to $25.00 and gave the stock a "neutral" rating in a report on Thursday, July 17th. 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. Citigroup reiterated a "sell" rating on shares of Magnolia Oil & Gas in a research report on Thursday, July 10th. Finally, UBS Group reissued a "buy" rating and set a $29.00 price target (up previously from $26.00) on shares of Magnolia Oil & Gas in a research note on Friday, June 13th. Four investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $26.67.

Magnolia Oil & Gas Stock Up 4.1%

Shares of NYSE MGY opened at $24.27 on Thursday. The firm's 50-day moving average is $23.75 and its two-hundred day moving average is $23.02. The company has a market capitalization of $4.63 billion, a PE ratio of 12.71, a price-to-earnings-growth ratio of 3.07 and a beta of 1.33. 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.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last issued its quarterly earnings data 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. The firm had revenue of $318.98 million during the quarter, compared to the consensus estimate of $311.58 million. Magnolia Oil & Gas had a return on equity of 19.34% and a net margin of 27.57%.The company's quarterly revenue was down 5.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.51 EPS. Equities analysts anticipate that Magnolia Oil & Gas Corp will post 2.1 EPS for the current fiscal year.

Magnolia Oil & Gas Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 11th were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Monday, August 11th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.5%. Magnolia Oil & Gas's dividend payout ratio (DPR) is presently 31.41%.

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.

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