Magnolia Oil & Gas Corp $MGY Shares Purchased by Entropy Technologies LP

Entropy Technologies LP grew its position in shares of Magnolia Oil & Gas Corp (NYSE:MGY) by 51.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 81,810 shares of the company’s stock after buying an additional 27,756 shares during the period. Entropy Technologies LP’s holdings in Magnolia Oil & Gas were worth $2,583,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Renaissance Technologies LLC increased its holdings in shares of Magnolia Oil & Gas by 43.7% in the 1st quarter. Renaissance Technologies LLC now owns 1,701,802 shares of the company’s stock valued at $53,726,000 after acquiring an additional 517,500 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in Magnolia Oil & Gas by 790.8% during the first quarter. Arrowstreet Capital Limited Partnership now owns 6,263,808 shares of the company’s stock worth $197,748,000 after purchasing an additional 5,560,619 shares during the last quarter. Sei Investments Co. boosted its holdings in Magnolia Oil & Gas by 93.2% in the first quarter. Sei Investments Co. now owns 455,352 shares of the company’s stock worth $14,375,000 after purchasing an additional 219,603 shares during the period. State of Wyoming boosted its holdings in Magnolia Oil & Gas by 25.2% in the first quarter. State of Wyoming now owns 10,877 shares of the company’s stock worth $343,000 after purchasing an additional 2,188 shares during the period. Finally, Cetera Investment Advisers boosted its holdings in Magnolia Oil & Gas by 5.2% in the first quarter. Cetera Investment Advisers now owns 17,549 shares of the company’s stock worth $554,000 after purchasing an additional 867 shares during the period. Institutional investors and hedge funds own 94.73% of the company’s stock.

Analysts Set New Price Targets

MGY has been the subject of several recent research reports. KeyCorp reiterated an “overweight” rating on shares of Magnolia Oil & Gas in a research note on Monday, June 29th. Zacks Research downgraded shares of Magnolia Oil & Gas from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 19th. Truist Financial decreased their price target on shares of Magnolia Oil & Gas from $34.00 to $32.00 and set a “hold” rating for the company in a report on Tuesday, July 7th. Susquehanna boosted their price objective on shares of Magnolia Oil & Gas from $35.00 to $36.00 and gave the company a “positive” rating in a research report on Tuesday, July 21st. Finally, Wells Fargo & Company dropped their price objective on shares of Magnolia Oil & Gas from $32.00 to $31.00 and set an “equal weight” rating on the stock in a research note on Wednesday, May 13th. Eight analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, Magnolia Oil & Gas currently has a consensus rating of “Hold” and a consensus price target of $31.42.

Magnolia Oil & Gas Price Performance

Shares of NYSE MGY opened at $25.33 on Monday. The stock has a market cap of $4.69 billion, a P/E ratio of 14.73 and a beta of 0.70. The firm’s 50-day simple moving average is $27.03 and its 200 day simple moving average is $27.46. Magnolia Oil & Gas Corp has a fifty-two week low of $21.07 and a fifty-two week high of $32.76. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.19.

Magnolia Oil & Gas (NYSE:MGY) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.03. The company had revenue of $358.51 million for the quarter, compared to the consensus estimate of $349.89 million. Magnolia Oil & Gas had a net margin of 24.40% and a return on equity of 16.28%. Magnolia Oil & Gas’s revenue was up 2.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.54 EPS. Equities analysts expect that Magnolia Oil & Gas Corp will post 2.7 EPS for the current year.

Magnolia Oil & Gas Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Tuesday, May 12th were given a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date was Tuesday, May 12th. Magnolia Oil & Gas’s dividend payout ratio is 38.37%.

About Magnolia Oil & Gas

Magnolia Oil & Gas Corp (NYSE: MGY) is an independent exploration and production company focused on the acquisition, development and optimization of onshore oil and gas assets in South Texas. Headquartered in Houston, the company concentrates its efforts on the Eagle Ford Shale, where it holds significant working interests in key producing counties.

The company’s core operations center on horizontal drilling and multi-stage completions designed to extract light crude oil, natural gas and natural gas liquids (NGLs).