F m Investments LLC Increases Position in Magnolia Oil & Gas Corp $MGY

F m Investments LLC grew its position in Magnolia Oil & Gas Corp (NYSE:MGY) by 30.8% during the second quarter, Holdings Channel.com reports. The firm owned 215,006 shares of the company’s stock after acquiring an additional 50,594 shares during the period. F m Investments LLC’s holdings in Magnolia Oil & Gas were worth $4,833,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. State of Wyoming increased its holdings in Magnolia Oil & Gas by 8.2% in the first quarter. State of Wyoming now owns 5,777 shares of the company’s stock valued at $146,000 after buying an additional 440 shares during the last quarter. Vista Finance LLC boosted its holdings in Magnolia Oil & Gas by 4.0% in the second quarter. Vista Finance LLC now owns 12,134 shares of the company’s stock valued at $273,000 after purchasing an additional 471 shares in the last quarter. ProShare Advisors LLC increased its stake in Magnolia Oil & Gas by 1.2% in the second quarter. ProShare Advisors LLC now owns 41,617 shares of the company’s stock valued at $936,000 after purchasing an additional 495 shares during the last quarter. HighTower Advisors LLC raised its holdings in Magnolia Oil & Gas by 4.9% during the first quarter. HighTower Advisors LLC now owns 15,852 shares of the company’s stock worth $400,000 after purchasing an additional 746 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its position in shares of Magnolia Oil & Gas by 2.1% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 39,766 shares of the company’s stock worth $894,000 after buying an additional 809 shares during the last quarter. Institutional investors and hedge funds own 94.73% of the company’s stock.

Analysts Set New Price Targets

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

Magnolia Oil & Gas Stock Performance

NYSE MGY opened at $23.14 on Friday. The firm has a market cap of $4.37 billion, a P/E ratio of 12.92, a P/E/G ratio of 3.08 and a beta of 1.18. Magnolia Oil & Gas Corp has a 52-week low of $19.09 and a 52-week high of $27.90. The business’s 50-day moving average price is $23.12 and its 200 day moving average price is $23.32. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.20.

Magnolia Oil & Gas (NYSE:MGY) last posted its quarterly earnings data on Wednesday, October 29th. The company reported $0.41 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.41. Magnolia Oil & Gas had a return on equity of 18.10% and a net margin of 25.90%.The company had revenue of $324.94 million during the quarter, compared to analysts’ expectations of $322.52 million. During the same period last year, the firm earned $0.52 EPS. The firm’s revenue for the quarter was down 2.5% on a year-over-year basis. On average, equities research analysts expect that Magnolia Oil & Gas Corp will post 2.1 earnings per share for the current year.

Magnolia Oil & Gas Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Monday, November 10th will be paid 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 payout ratio is currently 33.52%.

About Magnolia Oil & Gas

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.