Magnolia Oil & Gas Corp $MGY Shares Purchased by Cetera Investment Advisers

Cetera Investment Advisers increased its holdings in shares of Magnolia Oil & Gas Corp (NYSE:MGY) by 17.3% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 12,727 shares of the company’s stock after acquiring an additional 1,875 shares during the period. Cetera Investment Advisers’ holdings in Magnolia Oil & Gas were worth $321,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Wakefield Asset Management LLLP acquired a new stake in shares of Magnolia Oil & Gas during the 1st quarter valued at about $1,110,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Magnolia Oil & Gas during the first quarter worth about $5,774,000. Y Intercept Hong Kong Ltd purchased a new stake in shares of Magnolia Oil & Gas during the first quarter worth about $614,000. Choreo LLC purchased a new stake in shares of Magnolia Oil & Gas during the first quarter worth about $272,000. Finally, Gallacher Capital Management LLC purchased a new stake in shares of Magnolia Oil & Gas during the first quarter worth about $549,000. 94.73% of the stock is currently owned by institutional investors and hedge funds.

Magnolia Oil & Gas Stock Performance

Magnolia Oil & Gas stock opened at $23.0950 on Wednesday. The firm has a 50 day simple moving average of $23.53 and a 200-day simple moving average of $22.95. Magnolia Oil & Gas Corp has a 1-year low of $19.09 and a 1-year high of $29.02. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.44 and a quick ratio of 1.44. The stock has a market cap of $4.41 billion, a price-to-earnings ratio of 12.09, a price-to-earnings-growth ratio of 3.01 and a beta of 1.31.

Magnolia Oil & Gas (NYSE:MGY) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.03. Magnolia Oil & Gas had a net margin of 27.57% and a return on equity of 19.34%. The business had revenue of $318.98 million during the quarter, compared to analysts’ expectations of $311.58 million. During the same quarter in the prior year, the company posted $0.51 EPS. The business’s revenue for the quarter was down 5.3% on a year-over-year basis. On average, analysts expect that Magnolia Oil & Gas Corp will post 2.1 EPS for the current year.

Magnolia Oil & Gas Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Monday, August 11th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Monday, August 11th. This represents a $0.60 annualized dividend and a dividend yield of 2.6%. Magnolia Oil & Gas’s dividend payout ratio is 31.41%.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Wells Fargo & Company cut their target price on shares of Magnolia Oil & Gas from $22.00 to $21.00 and set an “underweight” rating for the company in a research note on Monday, June 16th. Susquehanna cut their target price on shares of Magnolia Oil & Gas from $31.00 to $30.00 and set a “positive” rating for the company in a research note on Tuesday, April 22nd. Piper Sandler boosted their target price on shares of Magnolia Oil & Gas from $24.00 to $25.00 and gave the stock a “neutral” rating in a research note on Thursday, July 17th. Bank of America boosted their target price on shares of Magnolia Oil & Gas from $23.00 to $25.00 and gave the stock a “neutral” rating in a research note on Friday, May 23rd. Finally, UBS Group reissued a “buy” rating and set a $29.00 target price (up previously from $26.00) on shares of Magnolia Oil & Gas in a research note on Friday, June 13th. Three investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Magnolia Oil & Gas presently has an average rating of “Hold” and an average price target of $26.67.

About Magnolia Oil & Gas

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.