Wealth Enhancement Advisory Services LLC Increases Holdings in Magnolia Oil & Gas Corp (NYSE:MGY)

Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Magnolia Oil & Gas Corp (NYSE:MGY) by 4.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,470 shares of the company’s stock after purchasing an additional 715 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Magnolia Oil & Gas were worth $391,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in Magnolia Oil & Gas by 2.2% during the 4th quarter. Vanguard Group Inc. now owns 20,938,200 shares of the company’s stock valued at $489,535,000 after purchasing an additional 452,836 shares during the period. First Trust Advisors LP increased its holdings in Magnolia Oil & Gas by 24.6% during the 4th quarter. First Trust Advisors LP now owns 15,410,496 shares of the company’s stock valued at $360,297,000 after purchasing an additional 3,038,709 shares during the period. Janus Henderson Group PLC increased its holdings in Magnolia Oil & Gas by 11.7% during the 4th quarter. Janus Henderson Group PLC now owns 6,396,875 shares of the company’s stock valued at $149,559,000 after purchasing an additional 667,973 shares during the period. Wellington Management Group LLP increased its holdings in Magnolia Oil & Gas by 0.5% during the 4th quarter. Wellington Management Group LLP now owns 5,020,646 shares of the company’s stock valued at $117,383,000 after purchasing an additional 26,943 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in Magnolia Oil & Gas by 1.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,768,047 shares of the company’s stock valued at $111,475,000 after acquiring an additional 86,166 shares in the last quarter. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on MGY. Citigroup reduced their target price on Magnolia Oil & Gas from $22.00 to $19.00 and set a “sell” rating on the stock in a report on Tuesday, April 8th. Susquehanna reduced their target price on Magnolia Oil & Gas from $31.00 to $30.00 and set a “positive” rating on the stock in a report on Tuesday, April 22nd. Wells Fargo & Company dropped their target price on shares of Magnolia Oil & Gas from $22.00 to $21.00 and set an “underweight” rating on the stock in a report on Monday, June 16th. UBS Group restated a “buy” rating and set a $29.00 target price (up previously from $26.00) on shares of Magnolia Oil & Gas in a report on Friday, June 13th. Finally, Bank of America boosted their target price on shares of Magnolia Oil & Gas from $23.00 to $25.00 and gave the company a “neutral” rating in a report on Friday, May 23rd. Two analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $27.00.

Magnolia Oil & Gas Stock Performance

Shares of MGY opened at $23.33 on Monday. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.20. The business’s 50 day moving average price is $22.53 and its 200-day moving average price is $23.16. Magnolia Oil & Gas Corp has a 52 week low of $19.09 and a 52 week high of $29.02. The stock has a market cap of $4.49 billion, a P/E ratio of 11.61, a P/E/G ratio of 3.11 and a beta of 1.28.

Magnolia Oil & Gas (NYSE:MGY) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.02. Magnolia Oil & Gas had a return on equity of 20.73% and a net margin of 28.50%. The firm had revenue of $350.30 million for the quarter, compared to analysts’ expectations of $337.83 million. During the same period in the previous year, the firm posted $0.46 EPS. The business’s revenue for the quarter was up 9.7% compared to the same quarter last year. Equities research analysts anticipate that Magnolia Oil & Gas Corp will post 2.1 earnings per share for the current fiscal year.

Magnolia Oil & Gas Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 12th were given a $0.15 dividend. The ex-dividend date was Monday, May 12th. This represents a $0.60 annualized dividend and a yield of 2.57%. Magnolia Oil & Gas’s dividend payout ratio (DPR) is presently 29.85%.

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.