Dynamic Technology Lab Private Ltd Acquires New Holdings in Magnolia Oil & Gas Corp $MGY

Dynamic Technology Lab Private Ltd bought a new position in Magnolia Oil & Gas Corp (NYSE:MGY) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 78,359 shares of the company’s stock, valued at approximately $1,762,000.

Several other hedge funds have also modified their holdings of the company. IFP Advisors Inc grew its holdings in Magnolia Oil & Gas by 13.5% in the first quarter. IFP Advisors Inc now owns 12,930 shares of the company’s stock worth $328,000 after purchasing an additional 1,540 shares during the last quarter. Choreo LLC acquired a new stake in Magnolia Oil & Gas in the first quarter worth about $272,000. Y Intercept Hong Kong Ltd acquired a new stake in Magnolia Oil & Gas in the first quarter worth about $614,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Magnolia Oil & Gas during the first quarter worth about $5,774,000. Finally, Wakefield Asset Management LLLP acquired a new position in shares of Magnolia Oil & Gas during the first quarter valued at about $1,110,000. 94.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. William Blair started coverage on shares of Magnolia Oil & Gas in a research report on Monday, August 25th. They set an “outperform” rating on the stock. KeyCorp set a $29.00 target price on Magnolia Oil & Gas and gave the company an “overweight” rating in a research report on Wednesday, October 15th. Weiss Ratings restated a “hold (c)” rating on shares of Magnolia Oil & Gas in a research note on Wednesday, October 8th. Piper Sandler dropped their price target on Magnolia Oil & Gas from $25.00 to $23.00 and set a “neutral” rating on the stock in a research note on Tuesday. Finally, Mizuho raised their price objective on Magnolia Oil & Gas from $25.00 to $26.00 and gave the stock a “neutral” rating in a research note on Thursday, October 30th. Five research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $26.25.

Magnolia Oil & Gas Stock Performance

MGY opened at $22.64 on Thursday. The firm has a fifty day moving average price of $23.31 and a 200 day moving average price of $23.27. Magnolia Oil & Gas Corp has a 1 year low of $19.09 and a 1 year high of $29.02. The stock has a market cap of $4.27 billion, a P/E ratio of 12.65, a P/E/G ratio of 3.07 and a beta of 1.18. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.47 and a quick ratio of 1.47.

Magnolia Oil & Gas (NYSE:MGY) last posted its earnings results on Wednesday, October 29th. The company reported $0.41 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.41. Magnolia Oil & Gas had a net margin of 25.90% and a return on equity of 18.10%. The business had revenue of $324.94 million for the quarter, compared to analyst estimates of $322.52 million. During the same period in the prior year, the company posted $0.52 EPS. The company’s revenue for the quarter was down 2.5% on a year-over-year basis. Equities research analysts anticipate that Magnolia Oil & Gas Corp will post 2.1 earnings per share for the current year.

Magnolia Oil & Gas Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Monday, November 10th will be given a $0.15 dividend. The ex-dividend date is Monday, November 10th. This represents a $0.60 annualized dividend and a dividend yield of 2.6%. Magnolia Oil & Gas’s dividend payout ratio (DPR) is 33.52%.

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.