AlphaQuest LLC Has $51,000 Position in Magnolia Oil & Gas Corp $MGY

AlphaQuest LLC cut its position in Magnolia Oil & Gas Corp (NYSE:MGY) by 97.3% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,149 shares of the company’s stock after selling 76,196 shares during the period. AlphaQuest LLC’s holdings in Magnolia Oil & Gas were worth $51,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vista Finance LLC increased its position in shares of Magnolia Oil & Gas by 4.0% in the 2nd quarter. Vista Finance LLC now owns 12,134 shares of the company’s stock valued at $273,000 after buying an additional 471 shares in the last quarter. ProShare Advisors LLC increased its holdings in shares of Magnolia Oil & Gas by 1.2% in the second quarter. ProShare Advisors LLC now owns 41,617 shares of the company’s stock worth $936,000 after acquiring an additional 495 shares in the last quarter. Farther Finance Advisors LLC increased its holdings in shares of Magnolia Oil & Gas by 13.2% in the third quarter. Farther Finance Advisors LLC now owns 4,284 shares of the company’s stock worth $102,000 after acquiring an additional 500 shares in the last quarter. Amalgamated Bank raised its position in shares of Magnolia Oil & Gas by 1.0% during the third quarter. Amalgamated Bank now owns 53,307 shares of the company’s stock worth $1,272,000 after purchasing an additional 552 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in shares of Magnolia Oil & Gas by 13.3% during the 3rd quarter. GAMMA Investing LLC now owns 5,677 shares of the company’s stock valued at $136,000 after purchasing an additional 668 shares in the last quarter. 94.73% of the stock is owned by institutional investors.

Magnolia Oil & Gas Stock Performance

Shares of MGY opened at $26.77 on Monday. Magnolia Oil & Gas Corp has a 12 month low of $19.09 and a 12 month high of $27.47. The firm has a fifty day simple moving average of $23.41 and a 200 day simple moving average of $23.45. The stock has a market capitalization of $5.05 billion, a price-to-earnings ratio of 15.56 and a beta of 0.96. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 0.20.

Magnolia Oil & Gas (NYSE:MGY) last issued its quarterly earnings results on Thursday, February 5th. The company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.01. Magnolia Oil & Gas had a net margin of 24.79% and a return on equity of 16.67%. The firm had revenue of $317.63 million for the quarter, compared to analyst estimates of $322.18 million. During the same period in the previous year, the business earned $0.44 EPS. The company’s revenue was down 2.8% compared to the same quarter last year. Research analysts forecast that Magnolia Oil & Gas Corp will post 2.1 EPS for the current fiscal year.

Magnolia Oil & Gas Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 2nd. Stockholders of record on Tuesday, February 10th will be paid a dividend of $0.165 per share. The ex-dividend date is Tuesday, February 10th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 2.5%. This is an increase from Magnolia Oil & Gas’s previous quarterly dividend of $0.15. Magnolia Oil & Gas’s dividend payout ratio (DPR) is currently 38.37%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Zacks Research raised Magnolia Oil & Gas from a “strong sell” rating to a “hold” rating in a research note on Wednesday, February 11th. Roth Mkm reiterated a “buy” rating on shares of Magnolia Oil & Gas in a report on Tuesday, February 10th. KeyCorp raised their price objective on shares of Magnolia Oil & Gas from $29.00 to $30.00 and gave the stock an “overweight” rating in a report on Monday, February 9th. Benchmark reaffirmed a “hold” rating on shares of Magnolia Oil & Gas in a research report on Wednesday, January 21st. Finally, Wells Fargo & Company set a $22.00 target price on shares of Magnolia Oil & Gas and gave the stock an “equal weight” rating in a research note on Tuesday, January 27th. Nine equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $27.00.

Magnolia Oil & Gas Profile

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).