Great Lakes Advisors LLC Makes New $4.68 Million Investment in Magnolia Oil & Gas Corp $MGY

Great Lakes Advisors LLC bought a new position in shares of Magnolia Oil & Gas Corp (NYSE:MGY) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 182,784 shares of the company’s stock, valued at approximately $4,676,000.

Several other hedge funds also recently made changes to their positions in the business. Salomon & Ludwin LLC boosted its stake in shares of Magnolia Oil & Gas by 130.1% in the fourth quarter. Salomon & Ludwin LLC now owns 1,344 shares of the company’s stock valued at $29,000 after buying an additional 760 shares during the period. Valued Wealth Advisors LLC bought a new stake in shares of Magnolia Oil & Gas during the 1st quarter valued at $29,000. EverSource Wealth Advisors LLC grew its holdings in shares of Magnolia Oil & Gas by 165.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,386 shares of the company’s stock worth $31,000 after purchasing an additional 864 shares in the last quarter. Torren Management LLC acquired a new position in Magnolia Oil & Gas in the fourth quarter valued at about $38,000. Finally, Harbor Investment Advisory LLC bought a new stake in Magnolia Oil & Gas during the second quarter worth about $39,000. 94.73% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on the stock. UBS Group decreased their target price on shares of Magnolia Oil & Gas from $38.00 to $34.00 and set a “buy” rating on the stock in a report on Friday, July 10th. Roth Capital reduced their price target on shares of Magnolia Oil & Gas from $30.00 to $29.00 and set a “buy” rating on the stock in a research report on Thursday, July 23rd. Weiss Ratings raised shares of Magnolia Oil & Gas from a “hold (c)” rating to a “buy (b-)” rating in a research note on Tuesday, August 11th. Johnson Rice upgraded shares of Magnolia Oil & Gas from a “hold” rating to an “accumulate” rating and lowered their price objective for the company from $33.00 to $32.00 in a research report on Monday. Finally, Zacks Research cut Magnolia Oil & Gas from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 19th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $31.62.

Insider Buying and Selling at Magnolia Oil & Gas

In related news, Director David M. Khani bought 8,000 shares of the firm’s stock in a transaction on Friday, August 7th. The shares were purchased at an average price of $25.00 per share, with a total value of $200,000.00. Following the completion of the purchase, the director owned 30,622 shares in the company, valued at $765,550. This represents a 35.36% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Insiders own 0.92% of the company’s stock.

Magnolia Oil & Gas Stock Up 2.2%

MGY stock opened at $27.48 on Thursday. The stock has a market capitalization of $6.51 billion, a P/E ratio of 12.05 and a beta of 0.72. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 0.18. Magnolia Oil & Gas Corp has a 12 month low of $21.07 and a 12 month high of $32.76. The firm has a 50-day moving average price of $25.97 and a 200-day moving average price of $27.75.

Magnolia Oil & Gas (NYSE:MGY) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.06. The company had revenue of $478.81 million for the quarter, compared to analyst estimates of $458.10 million. Magnolia Oil & Gas had a net margin of 28.77% and a return on equity of 21.04%. The firm’s revenue was up 50.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.41 EPS. As a group, equities research analysts anticipate that Magnolia Oil & Gas Corp will post 2.8 EPS for the current fiscal year.

Magnolia Oil & Gas Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Monday, August 10th will be given a $0.18 dividend. This is an increase from Magnolia Oil & Gas’s previous quarterly dividend of $0.17. This represents a $0.72 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date is Monday, August 10th. Magnolia Oil & Gas’s dividend payout ratio (DPR) is 31.58%.

Magnolia Oil & Gas Company 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).