King Luther Capital Management Corp boosted its holdings in shares of Magnolia Oil & Gas Co. (NYSE:MGY – Free Report) by 0.2% in the second quarter, according to its most recent filing with the SEC. The firm owned 1,070,912 shares of the company’s stock after acquiring an additional 2,339 shares during the period. King Luther Capital Management Corp owned 0.51% of Magnolia Oil & Gas worth $22,382,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently bought and sold shares of MGY. ProShare Advisors LLC grew its stake in shares of Magnolia Oil & Gas by 16.2% during the second quarter. ProShare Advisors LLC now owns 23,863 shares of the company’s stock worth $499,000 after purchasing an additional 3,333 shares during the period. Edgestream Partners L.P. acquired a new position in shares of Magnolia Oil & Gas during the 2nd quarter worth about $3,675,000. Commonwealth Equity Services LLC increased its stake in shares of Magnolia Oil & Gas by 8.3% in the 2nd quarter. Commonwealth Equity Services LLC now owns 106,840 shares of the company’s stock valued at $2,233,000 after acquiring an additional 8,214 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Magnolia Oil & Gas by 7.3% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 81,653 shares of the company’s stock valued at $1,707,000 after acquiring an additional 5,545 shares during the period. Finally, Truvestments Capital LLC boosted its stake in Magnolia Oil & Gas by 26.3% during the 2nd quarter. Truvestments Capital LLC now owns 9,072 shares of the company’s stock worth $190,000 after acquiring an additional 1,889 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 have commented on MGY. Truist Financial upped their target price on shares of Magnolia Oil & Gas from $27.00 to $29.00 and gave the company a “buy” rating in a research note on Wednesday, September 6th. Wells Fargo & Company started coverage on Magnolia Oil & Gas in a report on Wednesday, November 15th. They set an “equal weight” rating and a $23.00 target price on the stock. Mizuho increased their price target on Magnolia Oil & Gas from $25.00 to $26.00 and gave the stock a “neutral” rating in a report on Wednesday, September 6th. Finally, Citigroup cut their price objective on Magnolia Oil & Gas from $25.00 to $24.00 and set a “neutral” rating on the stock in a report on Monday, October 9th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $26.67.
Magnolia Oil & Gas Stock Performance
Shares of Magnolia Oil & Gas stock opened at $21.75 on Tuesday. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.65 and a quick ratio of 2.65. The firm has a market cap of $4.50 billion, a price-to-earnings ratio of 8.00 and a beta of 2.06. The stock’s 50-day moving average is $22.44 and its 200-day moving average is $21.66. Magnolia Oil & Gas Co. has a one year low of $18.72 and a one year high of $26.78.
Magnolia Oil & Gas (NYSE:MGY – Get Free Report) last released its earnings results on Wednesday, November 1st. The company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.53 by $0.01. The firm had revenue of $315.68 million for the quarter, compared to analysts’ expectations of $318.30 million. Magnolia Oil & Gas had a return on equity of 25.75% and a net margin of 41.62%. The business’s quarterly revenue was down 34.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.29 EPS. Equities analysts predict that Magnolia Oil & Gas Co. will post 2.16 earnings per share for the current fiscal year.
Magnolia Oil & Gas Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Thursday, November 9th will be given a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date of this dividend is Wednesday, November 8th. Magnolia Oil & Gas’s dividend payout ratio (DPR) is currently 16.91%.
About Magnolia Oil & Gas
Magnolia Oil & Gas Corporation engages in the acquisition, development, exploration, and production of oil, natural gas, and natural gas liquids reserves in the United States. Its properties are located primarily in Karnes County and the Giddings area in South Texas principally comprising the Eagle Ford Shale and the Austin Chalk formation.
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