Tyche Wealth Partners LLC Takes Position in Magnolia Oil & Gas Corp $MGY

Key Points

• Tyche Wealth Partners LLC has acquired a new stake in Magnolia Oil & Gas Corp, purchasing 15,445 shares valued at approximately $347,000 in the second quarter.
• Magnolia Oil & Gas recently declared a quarterly dividend of $0.15 per share, with a total annualized dividend of $0.60 and a dividend yield of 2.5%.
• The stock has a consensus rating of Hold, with four analysts rating it as a Buy, nine as Hold, and two as Sell, alongside a consensus price target of $26.42.

Tyche Wealth Partners LLC bought a new stake in shares of Magnolia Oil & Gas Corp (NYSE:MGY - Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 15,445 shares of the company's stock, valued at approximately $347,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. 111 Capital purchased a new position in shares of Magnolia Oil & Gas during the 2nd quarter valued at approximately $316,000. Campbell Newman Asset Management Inc. boosted its stake in shares of Magnolia Oil & Gas by 7.1% during the 2nd quarter. Campbell Newman Asset Management Inc. now owns 98,420 shares of the company's stock valued at $2,212,000 after buying an additional 6,524 shares during the last quarter. State of Alaska Department of Revenue boosted its stake in shares of Magnolia Oil & Gas by 5.1% during the 2nd quarter. State of Alaska Department of Revenue now owns 111,229 shares of the company's stock valued at $2,499,000 after buying an additional 5,378 shares during the last quarter. Foster Victor Wealth Advisors LLC boosted its stake in shares of Magnolia Oil & Gas by 7.8% during the 2nd quarter. Foster Victor Wealth Advisors LLC now owns 363,030 shares of the company's stock valued at $8,488,000 after buying an additional 26,113 shares during the last quarter. Finally, Argent Capital Management LLC boosted its stake in shares of Magnolia Oil & Gas by 5.1% during the 2nd quarter. Argent Capital Management LLC now owns 54,776 shares of the company's stock valued at $1,231,000 after buying an additional 2,661 shares during the last quarter. 94.73% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on MGY. Weiss Ratings reissued a "hold (c)" rating on shares of Magnolia Oil & Gas in a research report on Saturday, September 27th. Mizuho dropped their price target on Magnolia Oil & Gas from $26.00 to $25.00 and set a "neutral" rating on the stock in a research report on Monday, September 15th. William Blair began coverage on Magnolia Oil & Gas in a research report on Monday, August 25th. They set an "outperform" rating on the stock. Citigroup reissued a "sell" rating on shares of Magnolia Oil & Gas in a research report on Thursday, July 10th. Finally, Wells Fargo & Company dropped their price target on 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. Four research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $26.42.

Magnolia Oil & Gas Price Performance

Shares of NYSE MGY opened at $23.94 on Wednesday. Magnolia Oil & Gas Corp has a 1-year low of $19.09 and a 1-year 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 business's fifty day moving average price is $24.03 and its two-hundred day moving average price is $23.11. The firm has a market capitalization of $4.57 billion, a PE ratio of 12.53, a P/E/G ratio of 3.14 and a beta of 1.24.

Magnolia Oil & Gas (NYSE:MGY - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported $0.43 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $318.98 million for the quarter, compared to analyst estimates of $311.58 million. During the same period last year, the company earned $0.51 earnings per share. The firm's revenue for the quarter was down 5.3% on a year-over-year basis. On average, research analysts expect that Magnolia Oil & Gas Corp will post 2.1 EPS for the current year.

Magnolia Oil & Gas Announces Dividend

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