Magnolia Oil & Gas Co. (NYSE:MGY) Shares Bought by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC raised its stake in shares of Magnolia Oil & Gas Co. (NYSE:MGY) by 6.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,364 shares of the company’s stock after purchasing an additional 889 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Magnolia Oil & Gas were worth $351,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Texas Permanent School Fund Corp purchased a new position in shares of Magnolia Oil & Gas in the first quarter worth about $4,207,000. Vanguard Group Inc. lifted its stake in shares of Magnolia Oil & Gas by 16.6% in the first quarter. Vanguard Group Inc. now owns 20,757,369 shares of the company’s stock worth $538,654,000 after buying an additional 2,956,314 shares in the last quarter. Oliver Luxxe Assets LLC lifted its stake in shares of Magnolia Oil & Gas by 80.6% in the third quarter. Oliver Luxxe Assets LLC now owns 87,624 shares of the company’s stock worth $2,140,000 after buying an additional 39,098 shares in the last quarter. Quantbot Technologies LP acquired a new stake in shares of Magnolia Oil & Gas during the first quarter valued at about $762,000. Finally, Argent Capital Management LLC increased its position in shares of Magnolia Oil & Gas by 56.8% during the second quarter. Argent Capital Management LLC now owns 29,111 shares of the company’s stock valued at $738,000 after acquiring an additional 10,547 shares during the last quarter. 94.73% of the stock is owned by hedge funds and other institutional investors.

Magnolia Oil & Gas Stock Up 1.3 %

Shares of NYSE:MGY opened at $27.41 on Monday. The stock has a market cap of $5.39 billion, a P/E ratio of 13.57, a P/E/G ratio of 1.39 and a beta of 1.99. The firm has a fifty day moving average price of $25.41 and a 200 day moving average price of $25.38. 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 Co. has a 1-year low of $19.16 and a 1-year high of $27.63.

Magnolia Oil & Gas (NYSE:MGY) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.04. The firm had revenue of $333.14 million during the quarter, compared to analysts’ expectations of $331.45 million. Magnolia Oil & Gas had a net margin of 28.88% and a return on equity of 20.78%. Sell-side analysts predict that Magnolia Oil & Gas Co. will post 1.99 EPS for the current year.

Magnolia Oil & Gas Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be given a dividend of $0.13 per share. The ex-dividend date is Friday, November 8th. This represents a $0.52 dividend on an annualized basis and a yield of 1.90%. Magnolia Oil & Gas’s payout ratio is currently 25.74%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on MGY shares. Piper Sandler dropped their price objective on shares of Magnolia Oil & Gas from $29.00 to $26.00 and set a “neutral” rating for the company in a report on Thursday, August 15th. Benchmark reiterated a “hold” rating on shares of Magnolia Oil & Gas in a research note on Tuesday, October 15th. Siebert Williams Shank downgraded shares of Magnolia Oil & Gas from a “buy” rating to a “hold” rating and set a $30.00 price target for the company. in a research note on Tuesday, October 15th. Susquehanna decreased their price target on shares of Magnolia Oil & Gas from $33.00 to $32.00 and set a “positive” rating for the company in a research note on Wednesday, September 4th. Finally, Truist Financial boosted their price objective on shares of Magnolia Oil & Gas from $31.00 to $33.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Two analysts have rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $27.67.

Insiders Place Their Bets

In other Magnolia Oil & Gas news, Director Ltd. Enervest sold 7,000,000 shares of the company’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $25.86, for a total transaction of $181,020,000.00. Following the completion of the transaction, the director now owns 2,099,403 shares in the company, valued at approximately $54,290,561.58. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.20% of the stock is owned by insiders.

Magnolia Oil & Gas Company Profile

Magnolia Oil & Gas Corporation, an independent oil and natural gas company, 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.