Magnolia Oil & Gas Corp $MGY Shares Sold by Creative Planning

Creative Planning cut its stake in Magnolia Oil & Gas Corp (NYSE:MGY) by 10.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 76,246 shares of the company’s stock after selling 8,949 shares during the quarter. Creative Planning’s holdings in Magnolia Oil & Gas were worth $1,714,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of MGY. Campbell & CO Investment Adviser LLC increased its position in shares of Magnolia Oil & Gas by 325.0% during the second quarter. Campbell & CO Investment Adviser LLC now owns 214,211 shares of the company’s stock worth $4,815,000 after purchasing an additional 163,804 shares in the last quarter. Jane Street Group LLC boosted its stake in Magnolia Oil & Gas by 1,382.9% during the 1st quarter. Jane Street Group LLC now owns 1,059,335 shares of the company’s stock worth $26,759,000 after purchasing an additional 987,896 shares during the last quarter. Mackenzie Financial Corp boosted its stake in Magnolia Oil & Gas by 164.9% during the 1st quarter. Mackenzie Financial Corp now owns 29,322 shares of the company’s stock worth $741,000 after purchasing an additional 18,254 shares during the last quarter. Phocas Financial Corp. grew its holdings in shares of Magnolia Oil & Gas by 69.0% during the second quarter. Phocas Financial Corp. now owns 189,378 shares of the company’s stock worth $4,257,000 after buying an additional 77,327 shares in the last quarter. Finally, Jupiter Asset Management Ltd. acquired a new stake in shares of Magnolia Oil & Gas in the first quarter valued at about $3,963,000. 94.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on MGY. Mizuho boosted their price target on shares of Magnolia Oil & Gas from $25.00 to $26.00 and gave the stock a “neutral” rating in a research report on Thursday, October 30th. Weiss Ratings restated a “hold (c)” rating on shares of Magnolia Oil & Gas in a research report on Wednesday, October 8th. William Blair began coverage on Magnolia Oil & Gas in a research report on Monday, August 25th. They set an “outperform” rating on the stock. Piper Sandler dropped their target price on Magnolia Oil & Gas from $25.00 to $23.00 and set a “neutral” rating for the company in a report on Tuesday, November 18th. Finally, KeyCorp set a $29.00 target price on Magnolia Oil & Gas and gave the stock an “overweight” rating in a research note on Wednesday, October 15th. Five investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $26.25.

Magnolia Oil & Gas Stock Down 0.0%

MGY stock opened at $22.96 on Thursday. The company’s 50 day moving average price is $23.17 and its 200 day moving average price is $23.33. The firm has a market capitalization of $4.33 billion, a price-to-earnings ratio of 12.83, a PEG ratio of 3.11 and a beta of 1.18. Magnolia Oil & Gas Corp has a fifty-two week low of $19.09 and a fifty-two week high of $28.33. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.47 and a current ratio of 1.47.

Magnolia Oil & Gas (NYSE:MGY) last posted its quarterly earnings results on Wednesday, October 29th. The company reported $0.41 EPS for the quarter, hitting the consensus estimate of $0.41. Magnolia Oil & Gas had a net margin of 25.90% and a return on equity of 18.10%. The company had revenue of $324.94 million during the quarter, compared to analysts’ expectations of $322.52 million. During the same quarter in the previous year, the business posted $0.52 EPS. The firm’s revenue was down 2.5% on a year-over-year basis. 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 firm also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Monday, November 10th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend is Monday, November 10th. Magnolia Oil & Gas’s dividend payout ratio is 33.52%.

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.