Magnolia Oil & Gas Corp $MGY Shares Purchased by AlphaQuest LLC

AlphaQuest LLC increased its holdings in shares of Magnolia Oil & Gas Corp (NYSE:MGY) by 360.3% during the second quarter, Holdings Channel.com reports. The fund owned 78,345 shares of the company’s stock after buying an additional 61,326 shares during the period. AlphaQuest LLC’s holdings in Magnolia Oil & Gas were worth $1,761,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Magnolia Oil & Gas during the 2nd quarter valued at about $30,000. GAMMA Investing LLC grew its position in shares of Magnolia Oil & Gas by 98.6% during the 2nd quarter. GAMMA Investing LLC now owns 5,009 shares of the company’s stock valued at $113,000 after acquiring an additional 2,487 shares during the period. Smartleaf Asset Management LLC grew its position in shares of Magnolia Oil & Gas by 34.3% during the 1st quarter. Smartleaf Asset Management LLC now owns 5,072 shares of the company’s stock valued at $128,000 after acquiring an additional 1,295 shares during the period. Pacer Advisors Inc. purchased a new position in Magnolia Oil & Gas in the 1st quarter valued at about $136,000. Finally, State of Wyoming lifted its stake in Magnolia Oil & Gas by 8.2% in the 1st quarter. State of Wyoming now owns 5,777 shares of the company’s stock valued at $146,000 after buying an additional 440 shares in the last quarter. 94.73% of the stock is currently owned by institutional investors and hedge funds.

Magnolia Oil & Gas Stock Down 1.3%

MGY stock opened at $23.33 on Friday. The firm has a market cap of $4.45 billion, a PE ratio of 12.21, a PEG ratio of 3.17 and a beta of 1.24. 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 firm’s 50 day moving average price is $23.89 and its 200-day moving average price is $23.04. Magnolia Oil & Gas Corp has a one year low of $19.09 and a one year high of $29.02.

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

Magnolia Oil & Gas Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 11th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 2.6%. The ex-dividend date was Monday, August 11th. Magnolia Oil & Gas’s dividend payout ratio (DPR) is 31.41%.

Analyst Ratings Changes

A number of research analysts recently weighed in on MGY shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Magnolia Oil & Gas in a research note on Wednesday, October 8th. Piper Sandler raised their price target on shares of Magnolia Oil & Gas from $24.00 to $25.00 and gave the company a “neutral” rating in a research note on Thursday, July 17th. Mizuho decreased their price target on shares of Magnolia Oil & Gas from $26.00 to $25.00 and set a “neutral” rating on the stock in a research note on Monday, September 15th. William Blair assumed coverage on shares of Magnolia Oil & Gas in a research note on Monday, August 25th. They issued an “outperform” rating on the stock. Finally, Citigroup reissued a “sell” rating on shares of Magnolia Oil & Gas in a research note on Thursday, July 10th. Five research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $26.33.

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.