Ritholtz Wealth Management Acquires New Shares in Magnolia Oil & Gas Corp $MGY

Key Points

• Ritholtz Wealth Management has acquired 16,218 shares of Magnolia Oil & Gas Corp (NYSE: MGY), valued at approximately $365,000, according to a recent 13F filing.
• Magnolia Oil & Gas reported earnings of $0.43 EPS for the last quarter, surpassing analysts' expectations and recording a revenue of $318.98 million.
• The company declared a quarterly dividend of $0.15, resulting in an annualized dividend yield of 2.6% and a payout ratio of 31.41%.

Ritholtz Wealth Management acquired a new stake in shares of Magnolia Oil & Gas Corp (NYSE:MGY - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 16,218 shares of the company's stock, valued at approximately $365,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. State of Wyoming boosted its position in Magnolia Oil & Gas by 8.2% during the 1st quarter. State of Wyoming now owns 5,777 shares of the company's stock valued at $146,000 after purchasing an additional 440 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in Magnolia Oil & Gas by 4.8% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 15,470 shares of the company's stock valued at $391,000 after purchasing an additional 715 shares during the period. HighTower Advisors LLC boosted its position in Magnolia Oil & Gas by 4.9% during the 1st quarter. HighTower Advisors LLC now owns 15,852 shares of the company's stock valued at $400,000 after purchasing an additional 746 shares during the period. Xponance Inc. boosted its position in Magnolia Oil & Gas by 6.1% during the 1st quarter. Xponance Inc. now owns 13,051 shares of the company's stock valued at $330,000 after purchasing an additional 752 shares during the period. Finally, Oppenheimer Asset Management Inc. boosted its position in Magnolia Oil & Gas by 2.1% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 38,957 shares of the company's stock valued at $984,000 after purchasing an additional 811 shares during the period. Institutional investors and hedge funds own 94.73% of the company's stock.

Magnolia Oil & Gas Stock Up 0.6%

MGY opened at $22.95 on Tuesday. Magnolia Oil & Gas Corp has a one year low of $19.09 and a one year high of $29.02. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.44 and a current ratio of 1.44. The stock's fifty day moving average is $23.94 and its 200-day moving average is $22.99. The company has a market capitalization of $4.38 billion, a PE ratio of 12.02, a P/E/G ratio of 3.05 and a beta of 1.24.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $0.43 EPS for the quarter, topping analysts' consensus estimates of $0.40 by $0.03. Magnolia Oil & Gas had a return on equity of 19.34% and a net margin of 27.57%.The company had revenue of $318.98 million for the quarter, compared to the consensus estimate of $311.58 million. During the same quarter in the previous year, the business earned $0.51 EPS. The company's quarterly revenue was down 5.3% compared to the same quarter last year. On average, equities analysts predict that Magnolia Oil & Gas Corp will post 2.1 EPS for the current fiscal year.

Magnolia Oil & Gas Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 11th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend was Monday, August 11th. Magnolia Oil & Gas's payout ratio is currently 31.41%.

Analysts Set New Price Targets

MGY has been the subject of a number of analyst reports. Weiss Ratings reiterated a "hold (c)" rating on shares of Magnolia Oil & Gas in a research report on Wednesday, October 8th. Piper Sandler boosted their price target on Magnolia Oil & Gas from $24.00 to $25.00 and gave the stock a "neutral" rating in a research report on Thursday, July 17th. Mizuho reduced their price target on Magnolia Oil & Gas from $26.00 to $25.00 and set a "neutral" rating for the company in a research report on Monday, September 15th. Citigroup reiterated a "sell" rating on shares of Magnolia Oil & Gas in a research report on Thursday, July 10th. Finally, KeyCorp set a $29.00 price target on Magnolia Oil & Gas and gave the stock an "overweight" rating in a research report on Wednesday, October 15th. Five investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $26.33.

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.

Want to see what other hedge funds are holding MGY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Magnolia Oil & Gas Corp (NYSE:MGY - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.