Swiss National Bank Purchases 45,600 Shares of Magnolia Oil & Gas Co. (NYSE:MGY)

Swiss National Bank raised its position in shares of Magnolia Oil & Gas Co. (NYSE:MGYGet Rating) by 13.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 389,500 shares of the company’s stock after acquiring an additional 45,600 shares during the period. Swiss National Bank owned approximately 0.17% of Magnolia Oil & Gas worth $8,176,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of MGY. Ten Capital Wealth Advisors LLC bought a new stake in Magnolia Oil & Gas during the second quarter valued at about $28,000. NN Investment Partners Holdings N.V. bought a new stake in shares of Magnolia Oil & Gas in the first quarter valued at about $54,000. Assetmark Inc. lifted its stake in shares of Magnolia Oil & Gas by 311.4% in the second quarter. Assetmark Inc. now owns 2,880 shares of the company’s stock valued at $60,000 after buying an additional 2,180 shares during the period. National Bank of Canada FI bought a new stake in shares of Magnolia Oil & Gas in the second quarter valued at about $73,000. Finally, Captrust Financial Advisors lifted its stake in shares of Magnolia Oil & Gas by 42.4% in the first quarter. Captrust Financial Advisors now owns 3,608 shares of the company’s stock valued at $85,000 after buying an additional 1,075 shares during the period. 84.09% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on MGY shares. Piper Sandler increased their target price on shares of Magnolia Oil & Gas from $32.00 to $36.00 and gave the company an “overweight” rating in a research note on Thursday, November 17th. TheStreet upgraded shares of Magnolia Oil & Gas from a “c” rating to a “b-” rating in a research note on Thursday, October 27th. Finally, KeyCorp increased their target price on shares of Magnolia Oil & Gas from $28.00 to $30.00 and gave the company an “overweight” rating in a research note on Thursday, November 3rd. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $30.38.

Magnolia Oil & Gas Stock Down 2.7 %

Shares of MGY opened at $25.59 on Tuesday. The stock has a market cap of $5.53 billion, a price-to-earnings ratio of 5.91 and a beta of 2.15. The company has a 50-day moving average price of $23.70 and a two-hundred day moving average price of $23.67. The company has a quick ratio of 2.63, a current ratio of 2.63 and a debt-to-equity ratio of 0.27. Magnolia Oil & Gas Co. has a 12 month low of $17.23 and a 12 month high of $30.31.

Magnolia Oil & Gas (NYSE:MGYGet Rating) last posted its quarterly earnings data on Tuesday, November 1st. The company reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.18 by $0.11. The company had revenue of $482.96 million during the quarter, compared to analyst estimates of $454.87 million. Magnolia Oil & Gas had a net margin of 48.42% and a return on equity of 66.39%. Equities analysts predict that Magnolia Oil & Gas Co. will post 4.7 EPS for the current fiscal year.

Magnolia Oil & Gas Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Monday, November 7th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.56%. The ex-dividend date is Friday, November 4th. Magnolia Oil & Gas’s payout ratio is 9.24%.

Magnolia Oil & Gas Profile

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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 Field in South Texas principally comprising the Eagle Ford Shale and the Austin Chalk formation.

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Institutional Ownership by Quarter for Magnolia Oil & Gas (NYSE:MGY)

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