Valley Wealth Managers Inc. Acquires 34,523 Shares of Magnolia Oil & Gas Corp (NYSE:MGY)

Key Points

• Valley Wealth Managers Inc. increased its stake in Magnolia Oil & Gas Corp by 5.1% during the first quarter, owning approximately 0.37% of the company valued at $18.1 million.
• Magnolia Oil & Gas reported earnings of $0.55 per share, exceeding analyst expectations of $0.53, and its revenue increased 9.7% year-over-year to $350.3 million.
• The company declared a quarterly dividend of $0.15, related to a 2.53% dividend yield, with an annual payout ratio of 29.85%.

Valley Wealth Managers Inc. increased its holdings in shares of Magnolia Oil & Gas Corp (NYSE:MGY - Free Report) by 5.1% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 716,547 shares of the company's stock after purchasing an additional 34,523 shares during the quarter. Valley Wealth Managers Inc. owned 0.37% of Magnolia Oil & Gas worth $18,100,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of the business. First Trust Advisors LP grew its stake in shares of Magnolia Oil & Gas by 24.6% during the 4th quarter. First Trust Advisors LP now owns 15,410,496 shares of the company's stock worth $360,297,000 after acquiring an additional 3,038,709 shares in the last quarter. Janus Henderson Group PLC grew its stake in shares of Magnolia Oil & Gas by 11.7% during the 4th quarter. Janus Henderson Group PLC now owns 6,396,875 shares of the company's stock worth $149,559,000 after acquiring an additional 667,973 shares in the last quarter. Renaissance Technologies LLC grew its stake in shares of Magnolia Oil & Gas by 910.5% during the 4th quarter. Renaissance Technologies LLC now owns 541,400 shares of the company's stock worth $12,658,000 after acquiring an additional 487,820 shares in the last quarter. Wasatch Advisors LP grew its stake in shares of Magnolia Oil & Gas by 21.2% during the 4th quarter. Wasatch Advisors LP now owns 2,773,828 shares of the company's stock worth $64,852,000 after acquiring an additional 484,683 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of Magnolia Oil & Gas by 2.2% during the 4th quarter. Vanguard Group Inc. now owns 20,938,200 shares of the company's stock worth $489,535,000 after acquiring an additional 452,836 shares in the last quarter. 94.73% of the stock is owned by institutional investors.

Magnolia Oil & Gas Stock Performance

NYSE:MGY traded down $0.01 during trading on Wednesday, reaching $24.59. The company's stock had a trading volume of 995,527 shares, compared to its average volume of 2,667,012. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.33 and a current ratio of 1.33. The firm has a market cap of $4.73 billion, a price-to-earnings ratio of 12.25, a price-to-earnings-growth ratio of 3.19 and a beta of 1.28. Magnolia Oil & Gas Corp has a 12 month low of $19.09 and a 12 month high of $29.02. The firm has a 50 day moving average of $23.09 and a 200-day moving average of $23.15.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.02. The company had revenue of $350.30 million during the quarter, compared to the consensus estimate of $337.83 million. Magnolia Oil & Gas had a return on equity of 20.73% and a net margin of 28.50%. The firm's quarterly revenue was up 9.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.46 EPS. Research analysts expect that Magnolia Oil & Gas Corp will post 2.1 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Wells Fargo & Company cut their price objective on Magnolia Oil & Gas from $22.00 to $21.00 and set an "underweight" rating for the company in a report on Monday, June 16th. Susquehanna cut their price objective on Magnolia Oil & Gas from $31.00 to $30.00 and set a "positive" rating for the company in a report on Tuesday, April 22nd. Piper Sandler increased their price objective on Magnolia Oil & Gas from $24.00 to $25.00 and gave the company a "neutral" rating in a report on Thursday, July 17th. Bank of America raised their price target on 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 reaffirmed a "buy" rating and set a $29.00 price target (up previously from $26.00) on shares of Magnolia Oil & Gas in a report on Friday, June 13th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $26.67.

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.