Exchange Traded Concepts LLC Has $1.08 Million Holdings in Magnolia Oil & Gas Corp $MGY

Exchange Traded Concepts LLC raised its holdings in shares of Magnolia Oil & Gas Corp (NYSE:MGY) by 6.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 47,988 shares of the company’s stock after purchasing an additional 2,758 shares during the period. Exchange Traded Concepts LLC’s holdings in Magnolia Oil & Gas were worth $1,079,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC acquired a new position in Magnolia Oil & Gas during the 1st quarter valued at about $30,000. Parallel Advisors LLC lifted its position in Magnolia Oil & Gas by 122.8% during the 1st quarter. Parallel Advisors LLC now owns 2,308 shares of the company’s stock valued at $58,000 after purchasing an additional 1,272 shares during the period. Farther Finance Advisors LLC lifted its position in Magnolia Oil & Gas by 16.8% during the 1st quarter. Farther Finance Advisors LLC now owns 4,366 shares of the company’s stock valued at $111,000 after purchasing an additional 629 shares during the period. Smartleaf Asset Management LLC lifted its position in Magnolia Oil & Gas by 34.3% during the 1st quarter. Smartleaf Asset Management LLC now owns 5,072 shares of the company’s stock valued at $128,000 after purchasing an additional 1,295 shares during the period. Finally, Pacer Advisors Inc. acquired a new position in Magnolia Oil & Gas during the 1st quarter valued at about $136,000. 94.73% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently weighed in on MGY shares. William Blair started coverage on shares of Magnolia Oil & Gas in a research report on Monday, August 25th. They issued an “outperform” rating on the stock. Wells Fargo & Company cut their price target on shares of Magnolia Oil & Gas from $22.00 to $21.00 and set an “underweight” rating on the stock in a research report on Monday, June 16th. Citigroup reiterated a “sell” rating on shares of Magnolia Oil & Gas in a research report on Thursday, July 10th. Piper Sandler increased their price target on shares of Magnolia Oil & Gas from $24.00 to $25.00 and gave the company a “neutral” rating in a research report on Thursday, July 17th. Finally, Mizuho cut their price target on shares of Magnolia Oil & Gas from $26.00 to $25.00 and set a “neutral” rating on the stock in a research report on Monday, September 15th. Four research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Magnolia Oil & Gas has a consensus rating of “Hold” and a consensus price target of $26.42.

Magnolia Oil & Gas Trading Down 0.3%

NYSE MGY opened at $23.95 on Tuesday. The company has a market cap of $4.57 billion, a PE ratio of 12.54, a PEG ratio of 3.17 and a beta of 1.33. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.20. Magnolia Oil & Gas Corp has a 12 month low of $19.09 and a 12 month high of $29.02. The stock has a 50 day moving average of $23.87 and a 200-day moving average of $23.08.

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

Magnolia Oil & Gas Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 11th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend was Monday, August 11th. Magnolia Oil & Gas’s dividend payout ratio is presently 31.41%.

Magnolia Oil & Gas 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.