Envestnet Asset Management Inc. Raises Stake in Magnolia Oil & Gas Corp (NYSE:MGY)

Envestnet Asset Management Inc. boosted its holdings in Magnolia Oil & Gas Corp (NYSE:MGY) by 3.7% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 421,895 shares of the company’s stock after buying an additional 15,224 shares during the period. Envestnet Asset Management Inc. owned approximately 0.22% of Magnolia Oil & Gas worth $10,657,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. OneDigital Investment Advisors LLC lifted its position in shares of Magnolia Oil & Gas by 3.0% during the fourth quarter. OneDigital Investment Advisors LLC now owns 15,768 shares of the company’s stock worth $369,000 after purchasing an additional 464 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in Magnolia Oil & Gas by 1.4% in the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 40,783 shares of the company’s stock worth $954,000 after buying an additional 564 shares in the last quarter. Summit Investment Advisors Inc. lifted its holdings in Magnolia Oil & Gas by 3.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 18,119 shares of the company’s stock worth $424,000 after buying an additional 574 shares in the last quarter. Farther Finance Advisors LLC boosted its position in Magnolia Oil & Gas by 16.8% in the 1st quarter. Farther Finance Advisors LLC now owns 4,366 shares of the company’s stock valued at $111,000 after buying an additional 629 shares during the last quarter. Finally, BOKF NA grew its stake in shares of Magnolia Oil & Gas by 3.9% during the fourth quarter. BOKF NA now owns 19,014 shares of the company’s stock valued at $473,000 after acquiring an additional 713 shares in the last quarter. 94.73% of the stock is owned by institutional investors and hedge funds.

Magnolia Oil & Gas Price Performance

Shares of NYSE:MGY opened at $23.12 on Monday. The company has a market cap of $4.45 billion, a PE ratio of 11.50, a P/E/G ratio of 3.05 and a beta of 1.28. Magnolia Oil & Gas Corp has a fifty-two week low of $19.09 and a fifty-two week high of $29.02. The firm has a 50-day simple moving average of $22.95 and a 200 day simple moving average of $23.17. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.20.

Magnolia Oil & Gas (NYSE:MGY) last posted its earnings results on Wednesday, April 30th. The company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.53 by $0.02. The company had revenue of $350.30 million during the quarter, compared to analyst estimates of $337.83 million. Magnolia Oil & Gas had a return on equity of 20.73% and a net margin of 28.50%. The business’s revenue was up 9.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.46 earnings per share. On average, sell-side analysts anticipate that Magnolia Oil & Gas Corp will post 2.1 EPS for the current year.

Magnolia Oil & Gas Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 12th were paid a dividend of $0.15 per share. The ex-dividend date was Monday, May 12th. This represents a $0.60 dividend on an annualized basis and a yield of 2.60%. Magnolia Oil & Gas’s payout ratio is currently 29.85%.

Wall Street Analysts Forecast Growth

MGY has been the topic of several recent analyst reports. Piper Sandler boosted their price target on Magnolia Oil & Gas from $24.00 to $25.00 and gave the stock a “neutral” rating in a research note on Thursday. Citigroup reaffirmed a “sell” rating on shares of Magnolia Oil & Gas in a research report on Thursday, July 10th. Bank of America raised their price target on shares of Magnolia Oil & Gas from $23.00 to $25.00 and gave the stock a “neutral” rating in a research report on Friday, May 23rd. UBS Group restated a “buy” rating and issued a $29.00 price target (up previously from $26.00) on shares of Magnolia Oil & Gas in a research note on Friday, June 13th. Finally, Susquehanna reduced their price objective on shares of Magnolia Oil & Gas from $31.00 to $30.00 and set a “positive” rating on the stock in a research note on Tuesday, April 22nd. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Magnolia Oil & Gas currently has an average rating of “Hold” and an average price target of $26.67.

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.