Moody Aldrich Partners LLC Acquires 103,504 Shares of Magnolia Oil & Gas Corp $MGY

Key Points

• Moody Aldrich Partners increased its Magnolia Oil & Gas stake by 62% in the third quarter, acquiring 103,504 shares for a total holding of 270,544 shares valued at approximately $6.36 million. Institutional investors collectively own 94.73% of the company.
• Magnolia reported quarterly earnings of $0.99 per share, exceeding estimates of $0.93, while revenue rose 50.1% year over year to $478.81 million. The company also declared a quarterly dividend of $0.18, representing a 2.7% annualized yield.
• Analysts give MGY a consensus “Moderate Buy” rating with an average price target of $31.53, compared with a share price of $26.62. The stock trades between a 52-week range of $21.07 and $32.76.

Moody Aldrich Partners LLC lifted its holdings in shares of Magnolia Oil & Gas Corp (NYSE:MGY - Free Report) by 62.0% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 270,544 shares of the company's stock after buying an additional 103,504 shares during the period. Magnolia Oil & Gas comprises about 1.2% of Moody Aldrich Partners LLC's portfolio, making the stock its 14th biggest holding. Moody Aldrich Partners LLC owned about 0.11% of Magnolia Oil & Gas worth $6,355,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Valued Wealth Advisors LLC acquired a new position in Magnolia Oil & Gas during the first quarter worth about $29,000. Harbor Investment Advisory LLC bought a new stake in shares of Magnolia Oil & Gas during the 2nd quarter valued at approximately $39,000. Ancora Advisors LLC bought a new stake in shares of Magnolia Oil & Gas during the 2nd quarter valued at approximately $51,000. Versant Capital Management Inc increased its position in Magnolia Oil & Gas by 96.9% during the 2nd quarter. Versant Capital Management Inc now owns 2,257 shares of the company's stock worth $58,000 after purchasing an additional 1,111 shares in the last quarter. Finally, Integrated Wealth Concepts LLC acquired a new position in Magnolia Oil & Gas during the 2nd quarter worth approximately $72,000. Institutional investors and hedge funds own 94.73% of the company's stock.

Magnolia Oil & Gas Price Performance

Shares of NYSE:MGY opened at $26.62 on Thursday. The firm has a market cap of $6.31 billion, a PE ratio of 11.68 and a beta of 0.80. The firm's fifty day moving average is $25.79 and its 200-day moving average is $26.97. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.58 and a current ratio of 1.58. Magnolia Oil & Gas Corp has a 52 week low of $21.07 and a 52 week high of $32.76.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.06. The company had revenue of $478.81 million for the quarter, compared to analysts' expectations of $458.10 million. Magnolia Oil & Gas had a net margin of 28.77% and a return on equity of 21.04%. Magnolia Oil & Gas's revenue for the quarter was up 50.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.41 earnings per share. Sell-side analysts predict that Magnolia Oil & Gas Corp will post 2.83 earnings per share for the current year.

Magnolia Oil & Gas Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Tuesday, November 10th will be given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date is Tuesday, November 10th. Magnolia Oil & Gas's payout ratio is 31.58%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on MGY shares. Zacks Research downgraded shares of Magnolia Oil & Gas from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, October 13th. Seaport Research Partners initiated coverage on shares of Magnolia Oil & Gas in a research note on Thursday, September 3rd. They set a "neutral" rating on the stock. Weiss Ratings upgraded shares of Magnolia Oil & Gas from a "hold (c)" rating to a "buy (b-)" rating in a report on Tuesday, August 11th. Roth Capital dropped their price target on Magnolia Oil & Gas from $30.00 to $29.00 and set a "buy" rating for the company in a research note on Thursday, July 23rd. Finally, UBS Group set a $35.00 price target on Magnolia Oil & Gas in a research note on Thursday, October 15th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $31.53.

Insider Activity at Magnolia Oil & Gas

In related news, Director David Khani purchased 8,000 shares of Magnolia Oil & Gas stock in a transaction on Friday, August 7th. The shares were purchased at an average price of $25.00 per share, for a total transaction of $200,000.00. Following the transaction, the director owned 30,622 shares of the company's stock, valued at approximately $765,550. This represents a 35.36% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.92% of the company's stock.

Magnolia Oil & Gas Profile

Magnolia Oil & Gas Corporation NYSE: MGY is an independent oil and natural gas exploration and production company focused on developing assets in South Texas. Its operations are concentrated in the Eagle Ford Shale and Austin Chalk formations, where it owns and operates a substantial acreage position.

The company produces crude oil, condensate, natural gas liquids and natural gas. Magnolia uses horizontal drilling and hydraulic fracturing technologies to develop unconventional reserves, with activity primarily centered in the Karnes and Giddings areas of South Texas.

Magnolia Oil & Gas was formed in 2017 through a business combination involving Silver Run Acquisition Corporation II and certain oil and gas assets previously associated with TGP Investments.

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