Park Avenue Securities LLC Has $278,000 Stake in Magnolia Oil & Gas Corp $MGY

Park Avenue Securities LLC decreased its position in Magnolia Oil & Gas Corp (NYSE:MGY) by 4.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,365 shares of the company’s stock after selling 621 shares during the period. Park Avenue Securities LLC’s holdings in Magnolia Oil & Gas were worth $278,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Opal Wealth Advisors LLC acquired a new position in Magnolia Oil & Gas in the first quarter valued at $30,000. Parallel Advisors LLC lifted its holdings in Magnolia Oil & Gas by 122.8% in the first quarter. Parallel Advisors LLC now owns 2,308 shares of the company’s stock valued at $58,000 after buying an additional 1,272 shares during the period. Farther Finance Advisors LLC lifted its holdings in Magnolia Oil & Gas by 16.8% in the first 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 period. Smartleaf Asset Management LLC lifted its holdings in Magnolia Oil & Gas by 34.3% in the first quarter. Smartleaf Asset Management LLC now owns 5,072 shares of the company’s stock valued at $128,000 after buying an additional 1,295 shares during the period. Finally, Pacer Advisors Inc. acquired a new position in Magnolia Oil & Gas in the first quarter valued at $136,000. Institutional investors and hedge funds own 94.73% of the company’s stock.

Magnolia Oil & Gas Trading Down 1.1%

Shares of MGY stock opened at $23.92 on Wednesday. Magnolia Oil & Gas Corp has a 52-week low of $19.09 and a 52-week high of $29.02. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.44 and a current ratio of 1.44. The company has a 50-day simple moving average of $24.07 and a two-hundred day simple moving average of $23.14. The company has a market capitalization of $4.56 billion, a price-to-earnings ratio of 12.52, a PEG ratio of 3.17 and a beta of 1.33.

Magnolia Oil & Gas (NYSE:MGY) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.03. The business had revenue of $318.98 million during the quarter, compared to the consensus estimate of $311.58 million. Magnolia Oil & Gas had a net margin of 27.57% and a return on equity of 19.34%. The firm’s quarterly revenue was down 5.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.51 EPS. 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 announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Monday, August 11th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date was Monday, August 11th. Magnolia Oil & Gas’s payout ratio is presently 31.41%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Mizuho dropped their target price on shares of Magnolia Oil & Gas from $26.00 to $25.00 and set a “neutral” rating on the stock in a report on Monday, September 15th. Piper Sandler lifted 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 note on Thursday, July 17th. UBS Group reaffirmed a “buy” rating and issued a $29.00 price target (up from $26.00) on shares of Magnolia Oil & Gas in a research note on Friday, June 13th. Wells Fargo & Company decreased their price target 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. Finally, William Blair started coverage on shares of Magnolia Oil & Gas in a research note on Monday, August 25th. They issued an “outperform” rating for the company. Four 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 company. According to MarketBeat.com, Magnolia Oil & Gas presently has a consensus rating of “Hold” and an average target price of $26.42.

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.