28,655 Shares in Magnolia Oil & Gas Corp $MGY Acquired by Inceptionr LLC

Inceptionr LLC bought a new stake in shares of Magnolia Oil & Gas Corp (NYSE:MGY) in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm bought 28,655 shares of the company’s stock, valued at approximately $684,000.

Several other institutional investors have also recently added to or reduced their stakes in MGY. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Magnolia Oil & Gas by 236.2% during the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,190 shares of the company’s stock worth $27,000 after purchasing an additional 836 shares during the period. Mather Group LLC. acquired a new position in shares of Magnolia Oil & Gas during the 3rd quarter valued at about $31,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Magnolia Oil & Gas by 165.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,386 shares of the company’s stock worth $31,000 after acquiring an additional 864 shares during the period. Geneos Wealth Management Inc. lifted its holdings in shares of Magnolia Oil & Gas by 90.5% during the 2nd quarter. Geneos Wealth Management Inc. now owns 2,212 shares of the company’s stock worth $50,000 after acquiring an additional 1,051 shares during the period. Finally, Nisa Investment Advisors LLC boosted its position in shares of Magnolia Oil & Gas by 31.5% in the third quarter. Nisa Investment Advisors LLC now owns 3,003 shares of the company’s stock worth $72,000 after acquiring an additional 720 shares during the last quarter. Institutional investors and hedge funds own 94.73% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on MGY. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Magnolia Oil & Gas in a research report on Thursday, January 22nd. Bank of America upgraded shares of Magnolia Oil & Gas from a “neutral” rating to a “buy” rating and lifted their price target for the company from $26.00 to $28.00 in a report on Friday, January 16th. Citigroup increased their target price on Magnolia Oil & Gas from $25.00 to $29.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 18th. Wells Fargo & Company set a $25.00 price target on Magnolia Oil & Gas in a research report on Monday, February 16th. Finally, KeyCorp increased their target price on shares of Magnolia Oil & Gas from $29.00 to $30.00 and gave the stock an “overweight” rating in a research report on Monday, February 9th. Eight investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $28.18.

Magnolia Oil & Gas Stock Performance

Shares of NYSE MGY opened at $28.74 on Wednesday. Magnolia Oil & Gas Corp has a 52-week low of $19.09 and a 52-week high of $29.74. The stock has a market capitalization of $5.36 billion, a P/E ratio of 16.71 and a beta of 0.89. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 0.20. The firm’s 50-day moving average price is $25.31 and its two-hundred day moving average price is $23.95.

Magnolia Oil & Gas (NYSE:MGY) last posted its earnings results on Thursday, February 5th. The company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.36 by $0.01. Magnolia Oil & Gas had a net margin of 24.79% and a return on equity of 16.67%. The firm had revenue of $317.63 million during the quarter, compared to analysts’ expectations of $322.18 million. During the same quarter in the prior year, the firm earned $0.44 EPS. Magnolia Oil & Gas’s quarterly revenue was down 2.8% on a year-over-year basis. As a group, sell-side analysts forecast that Magnolia Oil & Gas Corp will post 2.1 earnings per share for the current year.

Magnolia Oil & Gas Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 2nd. Stockholders of record on Tuesday, February 10th were given a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 2.3%. This is a boost from Magnolia Oil & Gas’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Tuesday, February 10th. Magnolia Oil & Gas’s payout ratio is presently 38.37%.

Magnolia Oil & Gas Profile

Magnolia Oil & Gas Corp (NYSE: MGY) is an independent exploration and production company focused on the acquisition, development and optimization of onshore oil and gas assets in South Texas. Headquartered in Houston, the company concentrates its efforts on the Eagle Ford Shale, where it holds significant working interests in key producing counties.

The company’s core operations center on horizontal drilling and multi-stage completions designed to extract light crude oil, natural gas and natural gas liquids (NGLs).